6 days ago
Malaysian Rubber Industry Must Set New ESG Benchmarks
BUSINESS
Plantation and Commodities Deputy Minister Datuk Chan Foong Hindelivers his keynote address during the officiation of the Malaysian Rubber Industry ESG Conference (MREC) 2025 today.
KUALA LUMPUR, Aug 7 (Bernama) -- Malaysia's rubber industry must not only meet global standards but set new benchmarks to remain competitive in high-value markets, said Plantation and Commodities Deputy Minister Datuk Chan Foong Hin.
He stressed that alignment with environmental, social and governance (ESG) principles is non-negotiable.
'The future of rubber holds vast potential, from medical innovation to sustainable mobility. But this can only be realised through firm ESG leadership and systemic resilience.
'Sustainability is no longer a competitive edge, it is now a prerequisite for market access. Stakeholders—investors, buyers, consumers, and regulators—demand genuine ESG integration across the supply chain,' he said when officiating the Malaysian Rubber Industry ESG Conference (MREC 2025) today.
Chan said Malaysia has been categorised as a standard-risk jurisdiction under the European Union Deforestation Regulation (EUDR).
'However, that label does not fully reflect our advanced regulatory frameworks or the realities on the ground.
'The classification has sparked debate, and rightly so. But rather than merely contesting it, Malaysia is demonstrating compliance through action,' he said.
He added that the country is implementing a comprehensive sustainability strategy, underpinned by legality verification, traceability, zero-deforestation commitments, labour rights protection, and environmental stewardship.
'These pillars form the foundation of the Malaysian Sustainable Natural Rubber (MSNR) framework, launched in January 2025 by the Malaysian Rubber Board,' he said.
