Halim Hong & Quek, a member firm of Andersen Global’s Post

Environment, Social and Governance, or ESG, is becoming increasingly important. This has given rise to a phenomenon known as “greenwashing”, the misleading practice of marketing a company so that it appears more environmentally friendly or ecologically responsible than it actually is. However, as Ozlem Emgen, Riskonet partner in Turkey, points out: “Why pretend to go green when you can be the real thing? Riskonet offers a genuine alternative to greenwashing, by helping clients comply with both the letter and the spirit of ESG and thus benefit from authentic green credentials.” https://lnkd.in/gedXe95p

Our Head of ESG and Sustainability Advisory, Oy Cheng Phang, pointed to KPMG’s recent study that only 21% of 975 listed companies on Bursa Malaysia reported on the mandatory Scope 3 reporting requirements in their 2023 reporting cycle. Measuring and disclosing Scope 3 emissions – indirect emissions occurring upstream and downstream of the company’s operations – is challenging for various reasons, chief among which is that they occur outside of an organization’s direct control. Read the full story in this article by Business Today: https://lnkd.in/gGsm7B69 #ESG #climateaction #sustainability #ESGreporting

🌍 Genuine Sustainability 🌱 📄 Latest Update: The Final Report on Greenwashing was released on June 4th, 2024, in response to the European Commission’s request for input on “greenwashing risks and the supervision of sustainable finance policies.” I'm urging industries to avoid promoting "green washing"— don't just claim low CO2 emissions on your products if they weren't made with specific methods following accepted standards. 🔍 Why is this important? This not only misleads consumers but also risks significant fines. Regulators will consider the nature and seriousness of the infringement, including whether it was committed intentionally or negligently. 🔒 What does the EU say? The EU will ban: - Generic environmental claims on products without proof. - Claims that a product has a neutral, reduced, or positive impact on the environment due to emission offsetting. - Sustainability labels that aren't based on approved certification schemes or established by public authorities. 💡 Here is the links for further info: https://lnkd.in/dEx9-zn4 https://lnkd.in/dCJsTDed Let's work together to make a real difference! 🌿 🚫 No to Greenwashing! 🚫 #Sustainability #Greenwashing #ClimateAction #EnvironmentalImpact #Transparency #EURegulations

The Corporate Sustainability Reporting Directive (CSRD) obligates all large and listed companies to share information on how they monitor a wide range of Environmental, Social, and Governance (ESG) issues and their impact on our planet. Companies need to report on a variety of #ESG metrics, giving customers and investors an all-access view of their sustainability agenda. The #CSRD is another catalyst for change within dairy operations and should be seen as a driver for digitalisation. ESG and the CSRD have to be a priority, are you ready? Learn more here: https://lnkd.in/eCpNsSP6 #Sustainability #ClimateChange #RenewableEnergy #SustainableDairy #DairyFarming

Promoting Sustainability Initiatives with HKQAA ESG Connect While global news frequently mentions greenwashing, what is the definition of Greenwashing? Greenwashing is the deceptive practice of presenting an environmentally friendly image through advertising or labeling while failing to implement meaningful sustainability initiatives. In a world inundated with green marketing, scrutiny is essential to discern genuine eco-friendly commitments from mere gestures. To prevent greenwashing, it's crucial to ensure authenticity by having concrete data and evidence to support environmental claims. Regularly auditing supply chains can also safeguard against indirectly supporting irresponsible environmental practices. Furthermore, driving genuine sustainable development by actively engaging in tangible environmental projects is key to removing greenwashing traps. Given the market trend, HKQAA is vital in helping organizations combat greenwashing tendencies. By providing structured disclosure tools and ESG report verification , ESG Connect assists organizations in enhancing the transparency of their environmental, social, and governance measures. By promoting sustainable development practices, we help organizations stay true to their environmental commitments and steer them away from the pitfalls of greenwashing. Together, let's work towards a cleaner, greener future with honesty and integrity in our environmental efforts. For more information about HKQAA ESG Solutions, please feel free to contact our team to kick off your ESG journey: https://lnkd.in/gXX3ie3e #Sustainability #Greenwashing #ESG #HKQAA #EcoFriendly #SustainableDevelopment #CorporateResponsibility #EnvironmentalCommitment #Transparency #GreenFuture

#china will be adopting a “double materiality” approach to sustainability reporting, which includes reporting both on the risks and impact of sustainability issues on an enterprise, as well as on the enterprises’ impacts on environment and society. Their regulations will ne inspired by European #CSRD From you perspective, what do you think of this announcement? Is is a game changer? Will it accelerate regulations in other countries? #doublemateriality #impacteconomy #ESG2.0

We are committed to improving environmental sustainability throughout every stage of our operations. We are aiming to achieve the following by 2030: 🌏 SBT 1.5C pathway 🌏 100% Sustainable materials by 2030 🌏 100% Resource recovery by 2030 🌏 Improve supplier environmental sustainability performance 🌏 Improve visibility of ESG data 🌏 Continue to meet 100% of EMS compliance obligations https://bit.ly/3Xf1lqp #PalInternational #CorporateNetZero #EnvironmentalImpact #CorporateSustainability

Our most recent Sustainability Trends Quarterly Outlook highlights growing anti-greenwashing momentum at the same time as sustainability disclosure standards emerge globally.   Several European companies confronted greenwashing headaches of their own making in 2024's first quarter after making misleading statements about their sustainability credentials. To limit future greenwashing, the European Parliament approved the Directive on Green Claims to establish criteria for environmental claims and labels.   The first quarter also saw sustainability disclosure standards emerge across almost all corners of the globe. However, this trend was paused in the United States, with the U.S. Securities and Exchange Commission (SEC) staying its recently adopted Rules to Enhance and Standardize Climate-Related Disclosures for Investors after a court challenge.   Explore the topic further here: https://lnkd.in/d2eidX3c   #Greenwashing #CorporateSustainability #Sustainability

The upcoming Corporate Sustainability Reporting Directive (#CSRD) is bringing a seismic shift by emphasising double materiality in European Sustainability Reporting Standards. Dive into the dual lens perspective and its impact on investor demands! 🌐 #SustainabilityReporting #DoubleMateriality

The new EU sustainability framework has the potential to help multiple stakeholders to compare the sustainability performance of different undertakings. The following analysis breaks down some of the key paragraphs that together aims to ensure sustainablity is firmly integrated, funded and monitored. #pwc #sustainability #csrd