Paper on proposed modification to Fundamental, ACE Market itemizing issued

KUALA LUMPUR: Bursa Malaysia has issued a public session paper on the proposed amendments to the Fundamental Market Itemizing Necessities and the ACE Market Itemizing Necessities with the intention of elevating the sustainability practices and disclosures of listed issuers.

In a press release yesterday, Bursa Malaysia mentioned it had noticed enhancements amongst listed issuers for the reason that launch of its Sustainability Reporting Framework in 2015.

“Nevertheless, as the worldwide sustainability panorama has advanced considerably in recent times, the change acknowledges the necessity to improve the Sustainability Reporting Framework to make sure its continued relevance,” it mentioned.

Chief government officer Datuk Muhamad Umar Swift mentioned the improved sustainability reporting framework will function a springboard to propel listed issuers to undertake worldwide greatest practices and realise the nationwide aspiration to be a number one capital marketplace for sustainability within the area.

For the Fundamental Market, the change is proposing to require the disclosure of prescribed sustainability issues and indicators which can be deemed materials for listed issuers throughout all sectors. “Equally essential is the pressing must internalize and successfully handle local weather change-related dangers and alternatives with the intention to efficiently transition to a low-carbon world.

“Combating the impacts of local weather change won’t solely strengthen our listed issuers’ enterprise resilience, however may also realise Malaysia’s aspiration of changing into carbon impartial as early as 2050.

“Due to this fact, the change proposes requiring all listed issuers to supply local weather change associated disclosures which can be aligned with the Job Power on Local weather-related Monetary Disclosures suggestions,” it mentioned.

The change additional proposes that, the place acceptable, the sustainability practices and disclosures of the ACE Market listed firms be strengthened to be on par with these of the Fundamental Market.

“On this regard, the change proposes that ACE Market listed firms disclose the prescribed sustainability data at present stipulated for Fundamental Market listed issuers, in addition to the proposed frequent sustainability issues, enhanced quantitative data and a press release of assurance.

“As well as, the change proposes the disclosure of a fundamental plan to facilitate ACE Market listed firms in contemplating local weather change dangers and alternatives when transitioning in the direction of a low carbon financial system,” it added. — Bernama.


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