Companies Commission of Malaysia Corporate Responsibility Agenda
Corporate Responsibility (or corporate social responsibility) has become an international agenda pursued by corporate regulators and companies around the world. The practice of corporate responsibility represents one of the aspects of evaluation in determining the level of competitiveness of a country based on the 2010 World Competitiveness Yearbook published by the Institute for Management Development (IMD) based in Switzerland. On the domestic front, the concept of corporate responsibility is reflected in the national agenda such as Vision 2020 and the Tenth Malaysia Plan. The issues of corporate responsibility are also discussed in the 2010 Budget Speech by the Honourable Prime Minister.
To complement the Government’s efforts in promoting corporate responsibility, Companies Commission of Malaysia (SSM) has produced a strategic framework that outlines its’ approach towards inculcating a culture of corporate responsibility amongst the Malaysian corporate community. SSM’s Corporate Responsibility Agenda (SSM CR Agenda) with the tagline “Driving Business Beyond Profitability” was officially launched by SSM’s Chairman, Datuk Mohd Zain Bin Mohd Dom on 30 June 2009. The launch of the SSM CR Agenda officially marks a new era for SSM in relation to the organisation’s mandate which now includes the promotion of good corporate responsibility practices among the businesses and companies in Malaysia. The SSM CR Agenda has taken a new dimension through the recognition of corporate responsibility as part of corporate governance practices.
The objectives of the formulation of the SSM CR Agenda are as follows:
- To nurture the culture of CR in the Malaysian business environment;
- To encourage all businesses and companies to strive in striking an equilibrium between the quest for profit and creating a sustainable living environment;
- To incorporate a corporate culture among Malaysian corporate players that values and recognizes all CR initiatives pursued by corporations towards creating premiums in companies and businesses; and
- To pursue and propagate good corporate governance in a more holistic basis.
In addition to the SSM CR Agenda, the field of corporate responsibility is also emphasized in the SSM’s Second Strategic Direction Plan 2010 – 2014. Four (4) out of a total of fifty-four (54) major projects under the SSM’s Second Strategic Direction Plan are related to corporate responsibility.
SSM has previous carried out the following activities pursuant to the Launch of SSM Corporate Responsibility Agenda: