Towards a nature-positive Malaysia: Assessing the vulnerability and resilience of Malaysian corporates towards nature-related risks
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| Fatin Zani (WWF-Malaysia) | |
| Friday 15 March 2024 at 10:30 - 11:55 am (Hong Kong time, GMT +8) | |
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Zoom (click to join) |
Abstract
Given the complexities of nature and biodiversity, understanding and addressing nature-related risks poses a significant challenge for companies and investors. Unlike the more straightforward metrics of climate change, these risks defy simple measurement, leading many organizations to struggle to quantify and manage them effectively. In response to this challenge, WWF-Malaysia assessed Malaysian corporations’ exposure to nature-related risks and their readiness to mitigate them in a vulnerability and resilience assessment. The Vulnerability Assessment used the Biodiversity Risk Filter tool to evaluate the exposure of large, listed Malaysian corporations to nature-related risks within their operations and supply chain. The assessment revealed that the top 20 companies in Malaysia collectively face medium to high biodiversity-related risks, with critical risk indicators including water scarcity, landslides, pollution, land use change, freshwater and sea use change, and deforestation. The Resilience Assessment included a benchmarking exercise and follow-up surveys to evaluate companies' preparedness in addressing nature-related risks. The findings showed that while some leading companies, particularly in the agricultural sector, are making strides in managing nature-related risks, mainstream adoption remains elusive. Compliance-driven reporting often falls short of capturing the full scope of biodiversity impacts. The release of the Taskforce on Nature-related Financial Disclosures (TNFD) framework is expected to catalyse corporate action, guiding strategies towards more comprehensive risk management practices. Understanding and addressing nature-related risks is challenging due to the complexities of nature and biodiversity, making it difficult for organizations to quantify and manage them effectively.
About the speaker
Fatin Zani holds an MSc in Islamic Finance from the International Centre for Education in Islamic Finance (INCEIF), a university set up by Bank Negara Malaysia, and a BSc in Actuarial Science from the London School of Economics. At WWF-Malaysia, Fatin is pivotal in fostering collaboration with the financial sector on various climate and biodiversity-related issues. Fatin actively contributes to several Bank Negara Malaysia's Joint Committee on Climate Change-led initiatives, including the Climate Change and Principle-based Taxonomy (CCPT), the Task Force on Climate-Related Financial Disclosures (TCFD) Application Guide, Climate Risk Management, and Scenario Analysis, and also participates in the Value-based Intermediation Financing and Investment Impact Assessment Framework (VBIAF) sectoral guide working groups. Her extensive expertise includes impactful tools such as the Paris Agreement Capital Transition Assessment (PACTA) for climate portfolio alignment, the Biodiversity Risk Filter tool, and innovative nature-based solutions, reflecting her dedication to advancing sustainable practices.
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Join the Zoom meeting at https://hkust.zoom.us/j/98308118846 with the passcode: 956779
This event is co-organized by Division of Environment and Sustainability, HKUST and HKUST IEMS.
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