Kasturi Nathan, Head of Governance and Sustainability of KPMG in Malaysia wrote an article on how businesses and companies should pay more attention on the sustainability of their growth. In the last 30 years, corporate reporting practice has changed significantly. The changes reflect growing demands for enhanced corporate accountability, a changing understanding of value creation and a greater appreciation of interdependencies between financial, economic, environmental and social systems.
According to KPMG's Global CEO Outlook Report 2019, climate change has risen dramatically in ranking globally from fourth placing in 2018 to first position this year. Hence, companies need to be conscious and ethical in the way businesses are conducted. Companies need to adopt a long-term mindset and approach towards their business. This gives greater comfort and assurance to their investors and shareholders.
For example, KPMG Malaysia recently incepted a Digital Board Effectiveness Evaluation Tool that can advance and enrich the process in which boards evaluate themselves. With just a few keystrokes, the tool enables boards to assess the time spent on boardroom activities including sustainability oversight, identify trends and even assess how it is faring vis-a-vis boards of other companies.
Click here to read the full article published in Focus Malaysia