Proceedings of the 11th International Conference on Business, Accounting, Finance and Economics (BAFE 2023)

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The Environmental, Social, and Governance (ESG) In Malaysia SME: A Case Study of Vitrox

Authors
Luen Peng Tan1, *, Kum Lung Choe1, Yin Kuan Ng1, Ka Fei Lai1, Hooi Ching Khor1
1Universiti Tunku Abdul Rahman, Kampar, Perak, 31900, Malaysia
*Corresponding author. Email: tanlp@utar.edu.my
Corresponding Author
Luen Peng Tan
Available Online 31 December 2023.
DOI
10.2991/978-94-6463-342-9_26How to use a DOI?
Keywords
ESG; Malaysia; Vitrox
Abstract

Despite the Malaysian government’s effort in educating businesses on the importance of ESG, there is still a lack of awareness among businesses regarding the vitality of ESG. A recent survey conducted by Alliance Bank reveals that 86% of the surveyed SMEs had no idea what ESG exactly was. Furthermore, according to the Sustainable Development Report 2022, Malaysia was ranked 72 out of 163 countries with an SDG Index of 70.4 percent. Ostensibly, this indicates that there is still room for Malaysia to improve its environmental sustainability and vulnerable groups’ well-being. This case study aims to uncover the effective implementations of ESG practices in Vitrox which is a trusted technology company in Malaysia with not only delivering the best-in-class solutions and services to customers but also integrate the notion of ESG in every aspects of its operations. Qualitative approach was adopted in this case stud by conducting in-depth interviews with Vitrox’ founder. In addition, we also secured pertinent information of Vitrox from the company’s website, internet, and newspaper report. Moreover, we find that Vitrox was very committed in its implementation of ESG practices by concentrating and sharing the values of integrity, trust, and respect with its stakeholders. Furthermore, this case study also discusses the business and managerial implications of implementing ESG practices that potentially benefit the Malaysian SMEs.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 11th International Conference on Business, Accounting, Finance and Economics (BAFE 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2023
ISBN
978-94-6463-342-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-342-9_26How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Luen Peng Tan
AU  - Kum Lung Choe
AU  - Yin Kuan Ng
AU  - Ka Fei Lai
AU  - Hooi Ching Khor
PY  - 2023
DA  - 2023/12/31
TI  - The Environmental, Social, and Governance (ESG) In Malaysia SME: A Case Study of Vitrox
BT  - Proceedings of the 11th International Conference on Business, Accounting, Finance and Economics (BAFE 2023)
PB  - Atlantis Press
SP  - 344
EP  - 356
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-342-9_26
DO  - 10.2991/978-94-6463-342-9_26
ID  - Tan2023
ER  -