This article first appeared in The Edge Malaysia Weekly on November 27, 2023 - December 3, 2023

We hope to see well-structured regulations, standards and guidelines from the government and statutory bodies that will spur ESG practices. - Leonard

Duopharma Biotech Bhd has emerged as the gold winner in the healthcare sector at The Edge Malaysia ESG Awards 2023, thanks in part to the meaningful commitment the company has made to adopt ESG practices.

Group managing director Leonard Ariff Abdul Shatar says the award is a result of the strategic direction set by the board of directors and senior management to ensure that ESG principles remain a top organisational priority.

To stay on track, the company established a five-year ESG strategy that emphasises five key focus areas. These areas are climate performance, sustainable supply chains, access to medicine, diversity and inclusion, and governance. The framework has been fully embedded into Duopharma’s business operations and is driving key initiatives across the organisation.

“Unlike most others, our ESG strategy goes beyond simply managing environmental impacts and labour practices. We recognise sustainable development as an ongoing journey towards responsible business growth,” says Leonard.

“[The five-year ESG strategy] aims to shift our mindset, transforming sustainability from being seen as merely a means of compliance and doing good to an opportunity that drives business innovation and acts as a key enabler of our corporate strategy.

“Our vision extends beyond financial performance. We aspire to become a purpose-driven ecosystem, magnifying positive impact and values to both society and the environment.”

The company has pledged to achieve carbon neutrality by 2030, net zero carbon emissions by 2050 and to replace 50% of single-use plastics with other biodegradable options in its operations by 2026.

Duopharma also launched a new corporate culture that emphasises the core values of ESG compliance among employees while reinforcing ethical and sustainable practices throughout its operations. The new corporate culture is seen as a guiding principle that informs the company’s decision-making process and daily operational activities.

At the start of its ESG journey, Duopharma faced significant challenges in terms of knowledge and awareness because sustainability and ESG were viewed as complex topics that were not easily understood by employees. Thus, ESG awareness and communication were top priorities and the company ran ESG training programmes for its employees.

“These initiatives included knowledge-sharing sessions, and training and engaging activities aimed at increasing their understanding of ESG concepts. We firmly believe that our employees are our most valuable assets and we understand that the integration of ESG principles throughout our operations can be achieved and accelerated only when every employee comprehends our purpose and mission,” says Leonard.

To further accelerate sustainable development, concerted efforts by internal and external stakeholders are necessary on the local and global stages, he notes.

“Looking ahead, we hope to see well-structured regulations, standards and guidelines from the government and statutory bodies that will spur ESG practices. Collaborative initiatives, knowledge sharing and best practice dissemination from industry associations and organisations can further accelerate ESG adoption, especially to support small and medium enterprise players.”

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