Two teams of academics from the Faculty of Business and Finance (FBF) were awarded the Best Paper Award each at the International Conference on Management and Marketing (ICMaM), organised by UNITAR from 4 to 5 December 2024, at UNITAR International University and via online.
From left: Dr Zam Zuriyati, Prof Abdelhak, and Dr Au Yong
The team that received the Best Paper Award for the research titled Development of an Environmental, Social and Governance Practices (ESG) Index was co-authored by FBF Dean Assoc Prof Dr Au Yong Hui Nee, Deputy Dean for R&D and Postgraduate Programmes Prof Dr Abdelhak Senadjki, and Centre for Curriculum Development and Innovation (Kampar Campus) Deputy Head Assoc Prof Dr Zam Zuriyati binti Mohamad.
They enthused, “We are deeply honoured to receive the Best Paper Award for our research on developing an ESG index. This competition provided an incredible opportunity to showcase innovative ideas and contribute to the ongoing discourse on sustainability and corporate responsibility. We were glad to have the opportunity to share our findings with the broader audience and engage with others. We believe it was the results, which offered valuable insights for management practices, guiding firms and informing policy decisions for future sustainability-related studies that contributed to us winning the award. Thus, winning this award truly validates the importance of our research and inspires us to continue exploring solutions that bridge sustainability and economic performance. It’s an affirmation of the relevance of ESG initiatives in shaping a better future, and we are truly grateful for this recognition.”
They also attributed the achievement to their working experience at UTAR. They explained, “UTAR prioritises the practice of ESG principles in its operations and academic endeavours. UTAR’s commitment to sustainability is evident through its various initiatives, such as implementing green campus policies, nurturing community engagement and promoting transparent governance.”
The award-winning research aimed to focus on exploring the implementation of ESG practices and developing a scoring index for the ESG. The findings revealed that environmental and governance factors were prioritised more than social aspects in the firms. This is particularly relevant in the Malaysian context as it aligns with the increasing pressure on industries to adopt sustainable practices from both local regulations and international standards. Overall, the highest criterion was the environmental training, reflecting the growing emphasis on educating employees about sustainable practices. The results provided valuable insights for management practices, guiding firms and informing policy decisions for future sustainability-related studies. It was also parallel with the global shift to Sustainable Development Goals (SDGs) alongside the Twelve Malaysian Plan (12MP) and 10-10 MySTIE.
They further explained, “There is a growing need to develop ESG index because a national ESG index would have significant policy implications for regulators, industry leaders and policymakers in Malaysia. We believe this project will contribute to society and the environment by providing a comprehensive framework to evaluate ESG performance, enabling organisations to make informed decisions, drive sustainable practices and promote accountability across industries. The development of the ESG index in our research also aligns to multiple Sustainable Development Goas (SDGs), namely SDG 8: Decent Work and Economic Growth, SDG 9: Industry, Innovation, and Infrastructure, SDG 12: Responsible Consumption and Production, and SDG 13: Climate Action, and it promotes sustainable practices, accountability and resilient economic growth across industries.”
From left: Puan Rizalniyani, Nur Athirah and Cik Nur Aliah
Another Best Paper Award was given for the research titled Driving Innovation Through Stakeholder Engagement in Municipal ESG Initiatives, co-authored by Master of Philosophy (Management and Administration) student Nur Athirah Zul Fikar Ali, and FBF academics Puan Rizalniyani binti Abdul Razak and Cik Nur Aliah binti Mansor.
They expressed, “Winning this award feels incredibly rewarding, as it reflects the hard work and collaborative efforts behind this project. This award is also a testament to the importance of addressing global challenges through localised strategies, especially in the context of achieving net zero goals in developing regions. It also motivates us to continue exploring innovative solutions for municipal governance and environmental sustainability. Through our participation, we were able to showcase the relevance of our research and contribute to the discourse on sustainable development.”
They further explained, “The research explores the mediating role of stakeholder engagement in enhancing the impact of ESG initiatives on innovation, particularly within the context of Malaysian municipalities. The findings provide insights into how municipalities can leverage stakeholder participation to accelerate the adoption of green technologies, improve waste management and promote sustainable urban development. The paper concludes with policy implications for municipal governance and future research directions on enhancing stakeholder engagement in sustainability efforts.”
The research is part of a larger ongoing Fundamental Research Grant Scheme (FRGS) project titled A Strategic Model for Net Zero Municipalities by Incorporating Environmental, Social, and Governance (ESG) and Green Technology into Sustainability Balanced Scorecard, funded by the Ministry of Higher Education (MOHE). The project is led by Assoc Prof Dr Zam Zuriyati. The inspiration for this research stems from the urgent need to develop actionable frameworks that align municipal operations with net zero goals. By integrating ESG principles and green technology into the Sustainability Balanced Scorecard, the project seeks to provide municipalities with strategic tools to enhance sustainability and governance while addressing environmental challenges. The research team was inspired by the potential of this project to not only contribute to Malaysia’s national sustainability agenda but also to serve as a model for other emerging economies striving to achieve net zero targets.
Apart from contributing to Malaysia’s national sustainability agenda, the research also aligns to the SDGs, namely SDG 11: Sustainable Cities and Communities, as the research focuses on improving municipal governance and sustainability through stakeholder engagement; and SDG 16: Peace, Justice, and Strong Institutions, as the research promotes transparent and inclusive decision-making processes in ESG initiatives. The research will also be published in the Pertanika Journal of Social Sciences & Humanities, one of Malaysia’s most prestigious journals, further affirming the scholarly impact and quality of the authors’ work.
Themed Navigating Change: Innovations in Management and Marketing, the competition aimed to explore innovations in the fields of marketing and management and foster collaboration. It also provided a platform to gather global academics and industry practitioners to discuss innovations in management and marketing.
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