What do the NSRF requirements mean for your company from 2025 onwards? Who does this impact and why should businesses see this as more than compliance, but as a critical part of long-term success?

Starting in 2025, the phased implementation of Malaysia’s National Sustainability Reporting Framework (NSRF) will change sustainability reporting. Companies will need to disclose direct, indirect, and Scope 3 emissions, aligning with global IFRS standards to enhance transparency and comparability.

In this episode of Enterprise Explores, Nik Shahrizal Sulaiman, Sustainability & Climate Change Partner at PwC Malaysia, explores the NSRF’s requirements, its challenges, and the strategic opportunities it presents. We also discuss how the framework can foster a cultural shift in corporate Malaysia, positioning sustainability as a cornerstone of business strategy.

Here are some highlights from the conversation.

- Global Alignment: The NSRF integrates IFRS Sustainability Disclosure Standards, ensuring Malaysia’s reporting aligns with global practices to attract investors and boost market competitiveness.

- Who’s Affected: Phased implementation applies to large listed companies first, expanding to smaller listed and large non-listed entities with group revenues exceeding RM2 billion.

- Transition Reliefs: Initial focus is on climate-related disclosures, with temporary exemptions for Scope 3 emissions and principal business segments to ease compliance.

- Navigating Scope 3 Challenges: Scope 3 emissions reporting across value chains is complex, but companies can start by addressing material risks such as flood and regulatory risks while building internal capabilities.

- Leadership’s Role: Boards and executive teams must integrate climate risks into strategic planning, shifting from compliance to leveraging sustainability as a competitive advantage.

- Cultural Transformation: Treating sustainability as a strategic imperative enables companies to unlock efficiencies, enhance investor confidence, and remain competitive in global supply chains.

- Malaysia’s Advantage: Enhanced transparency can strengthen Malaysia’s position in global markets and attract foreign investors.

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