For the second year in a row, Malaysia Steel Works (KL) Bhd (Masteel) (KL:MASTEEL)took home the gold award in the best ESG performance over three years category forcompanies with a market cap below 300 million at The Edge Malaysia ESG Awards 2024.
Datuk Seri Tai Hean Leng, executive vice-chairman of Masteel, shares that one of thecompany’s most notable achievements for the year is the launch of its inauguralCorporate Green Awards, designed to internalise ESG principles within the company andmotivate suppliers to begin sustainability reporting and carbon dioxide emissionscalculation.
The initiative demonstrated a collaborative effort to unite Masteel’s ecosystem and fosterstrategic partnerships to recognise the responsibility and future of sustainability.
An example of a successful outcome is Alliance Bank’s involvement in conducting pre-assessment surveys to evaluate supplier ESG compliance. According to Tai, this hasstrengthened the supply chain by providing preferential financing to Corporate GreenAward winners.