28 November 2017, Kuala Lumpur: The United Nations Global Compact Malaysia (GCMY) and KPMG Management & Risk Consulting Sdn. Bhd. (KPMG) have designed an entry-level Sustainability Reporting Self-Assessment Tool to help Small and Medium Enterprises (SMEs).
“For SMEs, business continuity and Sustainability can mean the same thing. Our goal is to introduce Sustainability thinking to the thousands of SMEs forming the economic base of the business pyramid. The self-assessment tool identifies basic qualities and activities for SMEs to begin a process to track their Sustainability journey,” said Kasturi Nathan (pictured left), Head of Governance & Sustainability at KPMG.
The first phase of the GCMY-KPMG collaboration will familiarise SMEs with practices and ideas behind Sustainability Reporting. Future phases will integrate SME goals with GCMY offerings in partnership with Bursa Malaysia, the Securities Commission and investment banks. The objective is to enable SMEs to understand both how Sustainability adds value to their business, and how their business becomes more valuable when recognised as being sustainable.
“SMEs make a significant contribution in Malaysia. To make them more globally competitive, GCMY has an opportunity to work with smaller companies to make them familiar with what domestic and global buyers deem basic ‘doing good’ credentials. Our initiative will include and enable SMEs in all industry sectors,” said Puvan Selvanathan, GCMY President.