Tailor ESG goals for specific industry needs

As implementation of Environmental, Social and Governance or ESG goals gain momentum, livestock stakeholders must understand some basic things. Malaysia’s carbon-related agriculture analyst and researcher, Dr Chian Wen Chan told Asian Agribiz that among other:

• Ratings are mostly given by accounting companies instead of science-based research and analytical bodies, and ratings will vary.

• ESG standards must be specifically tailored for different industries and there are no general standardized criteria.

• Zero carbon achievement is impossible, as some processes such as using fertilizers means carbon emission in agriculture will always be present.

• Livestock producers can take the lead to improve how ESG goals are set or audited by working with scientists and rating agencies.

Dr Chian is a chartered engineer and a chartered scientist with IChemE. His area of research/consultation involves management of energy insecurity, food insecurity, financial insecurity in a changing world, and their subsequent impact on ESG and Sustainable Development Goals.