KUALA LUMPUR, March 23   — Bursa Malaysia Securities Bhd has issued a public consultation paper on the proposed amendments to the Main Market Listing Requirements (Main LR) and the ACE Market Listing Requirements (ACE LR) with the aim to elevate the sustainability practices and disclosures of listed issuers.

In a statement today, Bursa Malaysia said since the launch of its Sustainability Reporting Framework in 2015, the exchange has observed considerable improvements among listed issuers.

"However, as the global sustainability landscape has evolved significantly in recent years, the exchange recognises the need to enhance the Sustainability Reporting Framework to ensure its continued relevance,” it said.

Chief executive officer Datuk Muhamad Umar Swift said the enhanced sustainability reporting framework will serve as a spring board to propel listed issuers to adopt international best practices and realise the national aspiration to be a leading capital market for sustainability in the region.

For the Main Market, the exchange is proposing to require the disclosure of prescribed sustainability matters and indicators that are deemed material for listed issuers across all sectors.

"Equally important is the urgent need to internalise and effectively manage climate change-related risks and opportunities in order to successfully transition to a low-carbon world. Combating the impacts of climate change will not only strengthen our listed issuers’ business resilience, but will also realise Malaysia’s aspiration of becoming carbon neutral as early as 2050.

"Therefore, the exchange proposes requiring all listed issuers to provide climate change related disclosures that are aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations,” it said.

The exchange further proposes that, where appropriate, the sustainability practices and disclosures of the ACE Market listed corporations be strengthened to be on par with those of the Main Market.

"In this regard, the exchange proposes that ACE Market listed corporations disclose the prescribed sustainability information currently stipulated for Main Market listed issuers, as well as the proposed common sustainability matters, enhanced quantitative information and a statement of assurance.

"In addition, the exchange proposes the disclosure of a basic plan to facilitate ACE Market listed corporations in considering climate change risks and opportunities when transitioning towards a low carbon economy,” it added. — Bernama