Collaborative Research Initiative Aims to Enhance ESG Practices in Sabah’s Maritime Industry

Technology Depository Agency Berhad (TDA) has launched an initiative through the Industrial Collaboration Programme (ICP) to spearhead research and development efforts focused on a Framework for Environmental, Social, and Governance (ESG) in the Sabah Maritime Industry. This endeavor aims to modernise methods for evaluating corporate risk, meeting contemporary investors’ needs. The ESG Framework serves as a pivotal tool for investors to assess companies, analysing material risks and growth opportunities before making investment decisions.

In recent years, the maritime industry has faced various challenges, prompting increased emphasis on ESG practices and scoring accuracy. This scrutiny is essential to attract investors and meet stakeholders’ expectations. The maritime sector, characterised by its diverse players and roles, poses a unique challenge in developing a unified ESG Framework suitable for all stakeholders. Despite their interconnectedness, each player in the sector fulfills distinct roles across various activities.

This research project, undertaken in collaboration with Universiti Utara Malaysia (UUM), Sabah Ports Sdn Bhd (SPSB), and Lembaga Pelabuhan – Pelabuhan Sabah (LPPS), aims to develop three design policies for ESG performance tailored to the Marine Sector, including the Shipping Industry, Port Industry, and Marine Industry. The research will employ a quantitative-qualitative approach, focusing on the Malaysian Maritime Industry.

Two main activities are planned as part of this initiative. TDA hopes that the developed framework and report findings will serve as valuable references for the future of ESG in the maritime sector.