Malaysia: Companies lack awareness of CSR potential
Malaysia's major companies show little evidence of awareness of corporate social responsibility, with only one company so far having reflected its social responsibilities within its corporate mission, according to ACCA Malaysia.
The findings, published in ACCA Malaysia's study "State of Corporate Environmental and Social Reporting in Malaysia 2004", showed that few companies made reference to any sort of social or environmental policy statement within its reporting.
According to the study, 43 percent of the companies reviewed reported to some extent on social performance, with 26 percent promising that they would do so in the future. For many Malaysian companies, commitment to CSR is expressed in terms of charitable giving.