The finding was based on the Schneider Electric Sustainability Survey 2023, which surveyed about 4,500 business leaders from nine East Asian countries including 500 from Malaysia.
The survey, conducted by the French energy management service provider in partnership with Milieu Insight, aims to identify the intention-action gap relating to corporate sustainability amongst companies in Asia.
“In Malaysia, the green action gap lies at 46%, which highlighted the difference between companies who have established sustainability goals (95%) and those who have implemented or are currently practising a comprehensive sustainability strategy (49%),” Schneider said in a statement today.
The survey also found that 93% of the respondents consider sustainability to be a high priority for their company, with 92% believing that the country holds the same view.
Meanwhile, 57% of respondents said their companies have dedicated departments or teams responsible for driving sustainability goals and strategies.
The pivotal role of digitalisation in the green agenda was also emphasised with 95% of respondents saying it forms a core element of their corporate sustainability strategy.
Similarly, 95% of respondents also recognised the importance of integrating energy efficiency into their overall corporate sustainability approach.
“This underscores a need to bridge the gap between intention and action, emphasising the important role of technology and energy efficiency in shaping the corporate sustainability landscape,” the statement read.
Schneider Electric country president for Malaysia Eugene Quah said while the survey shows greater awareness in pursuing the green agenda, it also indicates a need for further action to reduce the intention-action gap.
“It is crucial for companies in Malaysia to translate their sustainability aspirations into tangible actions, addressing implementation challenges and embracing long-term strategies.
“As we navigate the urgent need for sustainability, it is imperative for businesses to take a leadership role in driving change, collaborating with governments, and leveraging innovative solutions to create a more sustainable future for our country and the planet,” he added.
Schneider Electric is a French multinational company which specialises in digital automation and energy management.