Latest news with #MREC2025
Barnama
07-08-2025
- Business
- Barnama
MRC Unveils Three ESG Initiatives To Advance Rubber Industry's Sustainable Transition
BUSINESS Plantation and Commodities Deputy Minister Datuk Chan Foong Hin (third, right) during officiating the Malaysian Rubber Industry ESG Conference (MREC 2025) today. Also present Deputy Secretary-General (Plantation and Commodities) Datuk Razali Mohamad (second, right) and Chief Executive Officer of the Malaysian Rubber Council (MRC), Muhammad Eizaaz Muhammad Redzuan (third, left). KUALA LUMPUR, Aug 7 (Bernama) -- The Malaysian Rubber Council (MRC) today launched three key initiatives to reinforce the rubber industry's commitment to sustainability and environmental, social and governance (ESG) practices. Chief executive officer Muhammad Eizaaz Muhammad Redzuan said the initiatives marked a significant shift in MRC's role, positioning the agency as a strategic enabler of responsible and sustainable growth, beyond its traditional function of promoting exports. 'To build on this momentum, I am proud to announce that MRC will today launch three significant sustainability initiatives,' he said in his welcoming remarks at the Malaysian Rubber Industry ESG Conference (MREC 2025) here today. The first initiative is the 'Sustainable Transition for Rubber Industry Development & ESG Fund', or STRIDE Fund, which builds upon MRC's existing Hiring Malaysian Workers Fund. 'STRIDE will specifically support small and medium enterprises (SMEs) in hiring dedicated sustainability officers and accessing expert ESG consultancy—helping them move from compliance to competitiveness,' he said. The second initiative involves the launch of a set of guidelines and tools titled 'Navigating ESG: A Practical Guide for Rubber and Rubber Products Manufacturers in Malaysia'. Muhammad Eizaaz said the MRC ESG Guidelines and Self-Regulated Checklist offer a practical starting point for companies seeking to enhance their ESG practices, initiate reporting efforts and prepare for evolving regulatory requirements. The third initiative is the 'Low Carbon Transition Roadmap for Malaysian Rubber Manufacturers', designed to serve as a blueprint for companies to begin their decarbonisation journey. 'It will help manufacturers implement meaningful emissions reduction measures and eventually commit to credible net-zero targets,' he added.
New Straits Times
07-08-2025
- Business
- New Straits Times
Malaysian rubber industry must set new ESG benchmarks: Chan
KUALA LUMPUR: 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. Held under the theme "Creating Opportunities Amid Sustainability Challenges," MREC 2025 comes at a critical juncture as Malaysia ramps up efforts to enhance traceability, regulatory compliance and sustainable production across its rubber value chain. These efforts are particularly timely amid growing global scrutiny, including the enforcement of the EUDR and other ESG-related trade requirements. The conference aligns with the Ministry of Plantation and Commodities' broader strategy to position Malaysia as a trusted global supplier of sustainably produced commodities. –
