KUALA LUMPUR (Dec 9): Malaysian Resources Corp Bhd (MRCB) will be participating in the United Nations Global Compact’s CFO Taskforce.

In a Dec 4 statement, the group said its membership in the task force reinforces its commitment to pursuing the Sustainability Development Goals (SDGs), and it will be able to provide an Asean perspective on developing strategies to accelerate the delivery of the SDGs within the private sector.

MRCB’s chief corporate officer Amarjit Chhina is the only member from Malaysia and the first in Asean to be invited to join the CFO Taskforce. There, he will be working with peers from other companies worldwide on a two-year programme to implement the CFO Principles on Integrated SDG Investments and Finance.

“The funding gap to achieve the SDGs is estimated to be between US$5 trillion [and] US$7 trillion a year and therefore it is undeniable that the private sector will need to play a more prominent role in financing the SDGs.

"MRCB is committed to helping realise the aspirations of the SDGs and the CFO Roundtable is a valuable platform, as it brings together a multi-sector group of corporate leaders from around the world to share their experiences, ideas and recommendations to advance the 2030 agenda. We are proud to represent Malaysia in this global platform,” said Amarjit.

Meanwhile, UN Global Compact Network Malaysia & Brunei executive director Faroze Nadar said the UN is delighted that Malaysia is now represented on the CFO Taskforce.

“We are delighted Malaysia is now represented at the UNGC CFO Taskforce demonstrating the key role Malaysian business can and must play in the global sustainability agenda.

"CFOs are responsible for managing the financial flows of companies, making them not only knowledgeable but also influential. Therefore, they can be powerful agents to accelerate sustainable finance and it's positive impact for corporates,” Faroze said.

The UN Global Compact CFO Taskforce was launched with the aim of placing corporate finance at the heart of the Sustainable Finance agenda. This platform brings together a multi-sector group of corporate finance leaders in aligning their sustainability commitments with credible corporate finance strategies to unlock private capital and create a real-world impact on the SDGs.

Existing taskforce members include Ford, Unilever, Verizon, BASF and Tesco. 

The CFO Taskforce has pinpointed four key areas that are critical for promoting SDG-aligned investments: SDG impact and measurement, integrated SDG strategies and investments, integrated corporate SDG Finance, and integrated SDG communication and reporting.

Shares in MRCB were unchanged today at 49.5 sen at 11:36am, valuing it at RM2.18 billion.