KUALA LUMPUR, Oct 30 — The Malaysian Institute of Accountants (MIA) has welcomed the inclusivity and sustainability themes of Budget 2022 which are aligned with the global momentum of Environment, Social and Governance (ESG) and the 17 UN Sustainable Development Goals (SDGs).

President Veerinderjeet Singh said as the regulator and developer of the accountancy profession, the MIA has been emphasising strongly on the adoption of ESG and sustainability among accountancy professionals and its members to help drive good governance and support sustainable business and economic development.

The MIA has focussed on positioning the profession as a leader for ESG and climate governance in line with the stance of the International Federation of Accountants.

“The MIA supports the government’s aspiration of making Malaysia a carbon-neutral country by 2050 through the launch of a Voluntary Carbon Market under Bursa Malaysia as a voluntary platform for carbon credit trading between green asset owners and other entities,” he said in a statement, today.

Meanwhile, MIA chief executive officer Dr Nurmazilah Mahzan said the national accountancy body looks forward to contributing, especially in the emerging areas of climate change and sustainability, which is aligned with the global accountancy profession’s direction as the MIA strives to enhance the future relevance of the accountancy profession.

Plus Xnergy Holding Sdn Bhd group chief executive officer and co-founder Ko Chuan Zhen said Bank Negara Malaysia’s allocation of RM1 billion towards assisting small and medium enterprises (SMEs) in adopting sustainable and low carbon practices is a right direction as SMEs fuel the country’s growth with 38.2 per cent growth domestic product contribution.

“We foresee that such efforts in encouraging SMEs to adopt sustainable practices would encompass government-backed microfinancing schemes, aimed to provide easy instalment loans to both businesses and households to clean energy such as solar,” he said.

He said the company is pleased to see the RM485 million for electricity supply projects in rural areas, benefiting 2,100 households.

“Being a clean energy solutionist ourselves, we feel strongly about the right to have access to energy for every person.

“ At least 10,000 people will now have access to electricity, improving their quality of life,” he added. — Bernama