Bursa Malaysia won the ESG Industry Collaboration of the Year award at the 7th Regulation Asia Awards for Excellence 2024, celebrated in person on 4 November 2024.

The ESG Industry Collaboration of the Year award recognises initiatives that foster strong cross-industry partnerships to advance sustainability standards and ESG practices. This award celebrates projects that tackle regulatory or compliance challenges, facilitate data transparency, and create impactful frameworks that help to drive sustainable finance. By recognising collaborations uniting diverse stakeholders, the award seeks to promotes initiatives that will shape the future of responsible business and environmental practices.

Bursa Malaysia launched CSI Solution, developed in partnership with LSEG, in June 2024 as an initiative to simplify ESG disclosures. The platform enables early adoption of global sustainability reporting requirements and standards, including those under the ISSB, TCFD, and GRI frameworks. The CSI offers a centralised platform for standardised sustainability data collection, management, and reporting, in addressing the lack of uniformity in ESG data across organisations. It is designed to green the supply chain and is open across the entire spectrum to all companies – listed and unlisted, of various sizes – from conglomerates to small-and-medium sized enterprises. In particular, this will benefit smaller businesses that might otherwise struggle with collecting, assessing and reporting ESG data.

The Regulation Asia Awards panel lauded Bursa Malaysia’s CSI platform for its innovative data interoperability mechanism, enabling access to standardised ESG data for regulators, financial institutions, investors, and other stakeholders. “The platform allows companies to align with global ESG standards and report their sustainability metrics easily, offering a resource that gives Malaysia a competitive edge over other jurisdictions,” said one judge on the Awards panel.

“Bursa Malaysia’s CSI platform demonstrates the power of collaboration in advancing ESG standards across sectors,” said Bradley Maclean, Co-founder of Regulation Asia and Chair of the Awards Committee. “This award highlights the critical role of industry collaboration in raising ESG standards. Initiatives like the CSI platform help us to envision a realistic path to a more transparent, sustainable and environmentally and socially responsible business community.”

“This award underscores the impact of strong cross-sector collaboration in advancing meaningful progress. Our achievements with CSI Solution are made possible thanks to the unwavering support of our technology partners, knowledge experts, and financial institutions. CSI Solution exemplifies public-private partnership in action, aligning ministries, government agencies, and key financial institutions to advance Malaysia’s national priorities, such as the New Industrial Master Plan 2030 and National Semiconductor Strategy. Through this initiative, we are enabling companies, including SMEs, to access sustainable financing and encouraging early adoption of ESG disclosures aligned with global standards. Our journey continues as we enable early adoption of IFRS standards, paving the way for businesses and communities to build a more sustainable, resilient future together,” said Wong Chiun Chiek, Director, Bursa Intelligence of Bursa Malaysia.

About the Regulation Asia Awards for Excellence 2024

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

For a full list of the award 2024 winners, visit www.regulationasia.com/awards.

About Regulation Asia

Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Visit www.regulationasia.com or connect via LinkedIn or Twitter.