Why Green Credentials Must Be A Business Imperative


 


All of us yearn for recognition and acknowledgement to some extent, whether in work or life.
Growing up, we strived to be our parents’ good child, then teachers’ favourite student, spouse’s good partner, company’s good employee, the list goes on and on.
The desire to succeed and excel in our endeavours is simply too strong as if not getting validation will make us a loser. This is how the craze started, with certificates covering everything from sports to blood donation, dance and more.
The same goes for sustainability practices. When we are doing something good, it is natural to seek sincere appreciation that encourages us to continue those behaviours.
This gives rise to a list of green certifications for different industries and topics. One example is the energy efficiency label you can easily spot on some household appliances.
The energy efficiency label is issued by the Energy Commission (ST), with a star rating system of five stars being the most efficient, and one star being the least efficient.
I own a few of these smart appliances, a four-star certified refrigerator, television, washing machine and fan. I never calculated the actual energy consumption but noticed a significant reduction in electricity bills after using them.
As a consumer, it feels good to be able to save money while helping the environment.
Green tax incentive for businesses
However, attaining green certifications is not just about winning over customers or displaying paper certificates by framing and hanging them on the wall. It goes beyond that!
Not many are aware that the government has introduced various green tax incentives to empower businesses to become more eco-friendly.
For instance, the Green Building Index (GBI) certificate can be used to claim tax exemption equivalent to 100 percent of the additional capital expenditure incurred to obtain the certificate.
Buyers of buildings and residential properties awarded the GBI certificates are also eligible for stamp duty exemption on transfer of ownership of such buildings.
On the other hand, the Green Income Tax Exemption (GITE) incentive is applicable to businesses that are green technology service providers and investors of solar photovoltaic systems (Solar PV).
To explain further, a green technology service provider offers a scope of services encompassing system design, feasibility study or consultancy in multiple sectors such as renewable energy, electric vehicles, green township etc.
A Solar PV investor possesses a minimum installed capacity of 3MW solar PV projects aggregated under the Net Energy Metering (NEM) for a period of five or 10 years depending on the installed capacity.
Green credentials and banks
Banks make money by lending money out. However, they will want to determine if the borrower is able to repay the amount borrowed within the agreed timeframe.
Besides assessing the borrower’s creditworthiness, banks also tend to prioritise businesses with green credentials.
Banks favour investments in sustainable or socially responsible businesses as they are seen to be more resilient to climate risks to avoid unexpected disruptions in supply chains that can lead to losses.
In other words, sustainable businesses can remain profitable and outperform their competitors in the long run.
Green credentials bust greenwashing fears
Another point that should be stressed is that green credentials help bust greenwashing fears.
Certified businesses are responsible for adhering to the sustainability criteria outlined in the certification system. Over time, businesses build a reputation that becomes a standard quality image associated with the brand name.
In this context, the Forest Stewardship Council (FSC) certification identifies that wood and paper products are proven to be sourced from sustainably managed forests.
Additionally, the SIRIM Eco-Labelling, Organic Content Standard (OCS), Fairtrade Certified Agriculture Production Standard (APS) and Global Good Agricultural Practices (GAP) are some of the most recognised green certifications, used to evaluate the environmental impacts of products and services.
Most importantly, going green is a cost-saving action. Businesses that implement energy-efficient technologies and optimise supply chain processes often find that the upfront investments are outweighed by the long-term financial benefits.
At the end of the day, net zero is not just a regulatory compliance or political commitment, it is a business imperative! Hence, it is important to showcase your decarbonisation efforts through green credentials! - Mkini
CHONG YEN MEE is a climate change analyst by training and enjoys writing doomsday stories that make people act.
The views expressed here are those of the author/contributor and do not necessarily represent the views of MMKtT.


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2024/06/why-green-credentials-must-be-business.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Party Must Change Undemocratic State Chief Selection Pkr Veteran

Party Must Change Undemocratic State Chief Selection Pkr Veteran

papar berkaitan - pada 29/5/2024 - jumlah : 119 hits
PKR veteran Hassan Abdul Karim has proposed for his party to amend its constitution which currently gives president Anwar Ibrahim the final say on appointing its 14 state chiefs He said while the party allows ordinary members to elect the p...
Pn Must Focus On Administrative Issues To Win Selangor Says Analyst

Pn Must Focus On Administrative Issues To Win Selangor Says Analyst

papar berkaitan - pada 30/5/2024 - jumlah : 127 hits
Perikatan Nasional currently holds six parliamentary seats and 22 state seats in Selangor PETALING JAYA Opposition pact Perikatan Nasional will need to raise administrative issues over racial rhetoric if it intends to take Selangor in the 1...
Pm Any Probe Into Minister S Husband S Firm Must Be Transparent

Pm Any Probe Into Minister S Husband S Firm Must Be Transparent

papar berkaitan - pada 29/5/2024 - jumlah : 307 hits
Prime Minister Anwar Ibrahim said any probe into a transport project recently awarded by the Selangor government should be transparent and the authorities should provide an explanation He said if there was any report against Asia Mobility T...
Malaysia Must Prepare For An Economic Slowdown

Malaysia Must Prepare For An Economic Slowdown

papar berkaitan - pada 27/5/2024 - jumlah : 310 hits
There are a number of concerning signs Murray Hunter With the latest World Bank s forecast warning that most economies will grow much slower in 2024 and 2025 Malaysia must be very cautious as the local economy is directly exposed to global ...
Mesti Baca Must Read Teh Tarik Economics 2024

Mesti Baca Must Read Teh Tarik Economics 2024

papar berkaitan - pada 27/5/2024 - jumlah : 256 hits
This is a gist of Prof Murray Hunter s latest article Malaysia must be very cautious economy directly exposed to global events number of warning signs for MalaysiaGDP grew 4 2 in Q1 2024major contributors 7 3 rise in public sector Private c...
Asia Mobiliti Govt Must Enact Procurement Reforms

Asia Mobiliti Govt Must Enact Procurement Reforms

papar berkaitan - pada 30/5/2024 - jumlah : 192 hits
On May 24 Selangor state executive councillor on Investment Trade and Mobility Ng Sze Han pushed back on concerns surrounding the appointment of Asia Mobility Technologies Sdn Bhd as a service provider for Selangor Mobility s Demand Respons...
Lfl Continue Assault Probe Govt Must Ensure No Interference

Lfl Continue Assault Probe Govt Must Ensure No Interference

papar berkaitan - pada 31/5/2024 - jumlah : 101 hits
Lawyers for Liberty has called on the police to continue with their investigation into the allegation that a bodyguard of a royal assaulted a disabled person The government must ensure there is no interference with the investigation The int...
Court Must Be Convinced That Royal Order On Najib S House Arrest Exists Says Lawyer

Court Must Be Convinced That Royal Order On Najib S House Arrest Exists Says Lawyer

papar berkaitan - pada 4/6/2024 - jumlah : 275 hits
High possibility for no decision on June 5 due to Pahang MB s affidavit says Haniff Khatri Abdulla THE Kuala Lumpur High Court must be convinced that the alleged addendum order reportedly issued by the former king exists before it decides t...
Anwar Must Balance Between Reformist Ideals Conservative Foundations

Anwar Must Balance Between Reformist Ideals Conservative Foundations

papar berkaitan - pada 5/6/2024 - jumlah : 146 hits
From Dave AnanthPrime Minister Anwar Ibrahim finds himself at a pivotal moment in his political career facing a multitude of challenges that reflect the classic dilemma of being caught between a rock and a hard place His predicament is a co...
Rasa Masakan Korea Soondubu Jigae Beef Di Dubuyo

China S President To Host Official Dinner For Anwar

I Bought A Toy Like Vape Online Mp Tells Dewan Chamber

Drama One Cent Thief 2 Lakonan Syafiq Kyle Azira Shafinaz

Tip Mudah Santan Berketul Jadi Elok Semula Letak Sehelai Daun Ini Saja

Maggi Goreng

Unlocking Savings Expert Tips For Finding Discounted Cigarettes In Australia

Kips Bay Decorator Show House Dallas 2024 An Exquisite Showcase Of Design


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


Pencipta Squid Game Hwang Dong Hyuk Sahkan Musim 3 Sebagai Penutup Kisah Gi Hun

Sedapnya Kopi Kering Beku Kapsul Dari Zus Coffee

Anwar Slams Hypocritical Criticism Over His Response To Najib S Apology

A Sucker Punch For Rm1 000 What S The Value Of Dignity In Malaysia

Mencipta Paper Bag Yang Berkesan Elemen Dan Pilihan Bahan

11 Jam Dan 1 Jam