Press Release: December 07, 2020
MRCB Selected by the United Nations Global Compact CFO Taskforce for the Sustainability Goals
KUALA LUMPUR, 4 December 2020 – Malaysian Resources Corporation Berhad (MRCB) today announced its participation in the United Nations Global Compact’s CFO Taskforce to reinforce its commitment in pursuing the Sustainability Development Goals (SDGs). Membership of the UNGC CFO Taskforce will enable MRCB to provide an ASEAN perspective on developing the strategies to accelerate the delivery of the SDGs within the private sector.
MRCB’s Chief Corporate Officer, Amarjit Chhina, is the only member from Malaysia and the first in ASEAN to be invited to join the CFO Taskforce. Amarjit will be working with peers from multiple global companies on a two-year programme to implement the CFO Principles on Integrated SDG Investments and Finance, and to leverage their experience and learnings with others.
The UN Global Compact CFO Taskforce was launched to put corporate finance at the centre of the Sustainable Finance agenda. The platform brings together a multi-sector group of corporate finance leaders in aligning their sustainability commitments with credible corporate finance strategies to unlock private capital and create real-world impact on the SDGs. Members of the taskforce include multi-national companies such as Ford, Unilever, Verizon, BASF and Tesco.
The CFO Taskforce has pinpointed four key areas that are relatively underserved but critical for promoting SDG-aligned investments: SDG impact and measurement, integrated SDG strategies and investments, integrated corporate SDG Finance, and integrated SDG communication and reporting.
Amarjit commented, “The funding gap to achieve the SDGs is estimated to be between US$5-7 trillion a year and therefore it is undeniable that the private sector will need to play a more prominent role in financing the SDGs. MRCB is committed to helping realise the aspirations of the SDGs and the CFO Roundtable is a valuable platform, as it brings together a multi-sector group of corporate leaders from around the world to share their experiences, ideas and recommendations to advance the 2030 agenda. We are proud to represent Malaysia in this global platform.”
Faroze Nadar, Executive Director for UN Global Compact Network Malaysia & Brunei said, ”We are delighted Malaysia is now represented at the UNGC CFO Taskforce demonstrating the key role Malaysian business can and must play in the global sustainability agenda. CFOs are responsible for managing the financial flows of companies, making them not only knowledgeable but also influential. Therefore, they can be powerful agents to accelerate sustainable finance and it's positive impact for corporates.”