MDCAP’S Cohort 1 Of 28 Companies Pledge Their Commitment Towards Sustainability And Climate Action

Malaysia Digital Economy Corporation (MDEC) has launched its Malaysia Digital Climate Action Pledge (MDCAP), a corporate pledge that aims to build capacity and increase the adoption of sustainability and climate action by businesses across the digital economy.

The corporate pledge which is jointly developed by the Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, in partnership with UN Global Compact Network Malaysia & Brunei (UNGCMYB) consist of 28 businesses from the digital economy sector.

The signatories will have access to resources including a climate action playbook and carbon toolkit (including a calculator, online scoresheet and reporting tool), to help them take affirmative climate action plan.

According to the Ministry of Communications and Multimedia, Malaysia’s digital economy reached 22.6 percent of gross domestic product (GDP) last year and is expected to grow beyond the initial target of 25.5 percent by 2025. This makes the digital economy a key catalyst for the nation’s shift to more sustainable economic practices.”

This Pledge is also aligned the Government’s commitment to be a carbon-neutral nation by 2050. As outlined in Twelfth Malaysia Plan (12MP), the Government is aiming for a 45 percent reduction in greenhouse gas emissions intensity of GDP by 2030, compared to a 2005 baseline, and to achieve a 31 percent renewable energy mix by 2025.

Ts. Mahadhir Aziz, Chief Executive Officer of MDEC, said, “To leverage the vast opportunities of the green economy, we must adapt strategies, structures and processes to strengthen our ability to face emerging risks such as climate change. MDCAP is a very important step in supporting the acceleration the growth of the digital economy sustainably”.

Signatories of MDCAP are required to undertake a minimum of two out of the following six commitments:

  • Conduct business operations in an environmentally responsible manner, through Reduce, Reuse, Recycle practices.
  • Take action to minimise greenhouse gas (GHG) emissions by implementing energy efficiency and/or renewable energy or other emission-reducing measures.
  • Implement responsible sourcing across the supply chain.
  • Define a climate governance strategy in accordance with the mission, vision, and values of the company.
  • Encourage stakeholder dialogue on the company’s sustainability practices.
  • Share sustainability best practices in terms of strategies, action plans, and initiatives.

“We started with an initial goal of signing up 10 companies but the responses towards MDCAP have been overwhelming. The companies that have signed up have been given a period of 12 months to collectively disclose what they have achieved through their commitments,” Dr Sumitra Nair, Senior Vice President & Head – Strategy & Policy, MDEC told Disruptr.

She further shared that efforts are in place to further reach out to companies that are of MD-status as well as companies within the wider business ecosystem.

Executive Director of UNGCMYB, Faroze Nadar added “Positive actions begin with strong intentions, and this is what we hope to enable with MDCAP. Sustainability need not be overwhelming, it starts with the desire to be a better, responsible business, and the digital economy actors especially are pivotal change agents in enabling the fulfillment of national and global goals on the climate agenda.

“The resources and best practices provided have been tailored to be as relatable as possible across all spectrums of sustainability implementation maturity levels. We hope this programme will be the catalyst for digital economy companies, to unlock the value of sustainability to increase their resilience and competitiveness and tap the growing sustainable trade demand,” he said.

Other programmes offered under MDCAP include a Sustainability eLearning, co-developed by UNGCMYB and Taylor’s University, that will also be offered to the first 75 SMEs taking the Pledge, at a subsidised rate.

Interested companies are welcomed to learn more about MDCAP by visiting https://mdec.my/mdw/

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