Climate change can no longer be a side-show as it is already impacting socio-economic norms on all levels – in fact, according to Sunita Rajakumar, Chairman, Climate Governance Malaysia (CGM), it already brought up detrimental costs for businesses and communities.
“We need to address one of the primary causes for climate change – global warming. Heat trapped in our atmosphere caused sea levels to rise and the warmer air also holds more moisture, causing higher rainfall and flash floods. All this can affect food security and, as a result, increase reliance on imported goods. This will lead to higher costs of financing and inflation. Altogether, it may cause an economical failure for Malaysia,” she said.
As one of the leading figures in the organising committee for the upcoming National Climate Governance Summit 2023, which is taking place this week (September 5 to 6 2023), she is keenly aware of the challenges the world is now facing.
For her, raising awareness is no longer enough to overcome climate change. Everyone must play their part and, for small- and medium-sized enterprises (SMEs), it is critical that they become involved.
That is the purpose of organising the National Climate Governance Summit and why it specifically addresses SMEs and how they can support this push for change.
“There is so much more that can be done by private sectors. What we want to achieve is a call to action from key players that can effect change. In terms of business sustainability, SMEs must identify and answer questions that refer to the environmental support their products offer. This includes checking if there is a need for the product, how it will be produced, and what will it be made with. These considerations will ensure that the product is reusable or recyclable to some degree,” shared Sunita.
Right now, SMEs have this fear of change embedded deep within and are prone to not consider the larger view and how it should include environment, governance, and sustainability. Sunita believes this must change if they are to remain relevant, competitive, and want to take lead.
“SMEs must view this as an investment that will drive forward the future of their business. It is an opportunity for them to take the first step and act as the tipping point where sustainability becomes the norm. This is how the Summit can help as it empowers and enables SMEs to embrace this trend,” she added.
The event will feature various speakers from around the world, multiple workshops, and will put the spotlight firmly on leaders in the SME space. With the latter, they will share how they transition to sustainable practices and insights on what could be done better.
“By joining this event, SMEs will learn how they can develop and implement more sustainable practices in their operations and evolve to be better. (Admittedly,) it is nearly impossible to achieve net zero emissions by 2050. Even so, we must continue to mitigate the effects of climate change and, as such, we must continue to advocate for climate governance,” added Sunita.
Those keen to learn more about CGM can head over to its main webportal.