MGB Bhd’s recent accolade at The Edge Malaysia ESG Awards 2024 marks a significant milestone not just for the company but for the construction industry as a whole. Winning the silver award in the construction category for the second consecutive year underscores MGB’s commitment to sustainability through innovative practices. CEO Lim Lit Chek attributes this achievement to the successful implementation of the industrialised building system (IBS) technology, which has become a cornerstone of the company’s operations.
Lim doesn’t mince words when he touts the benefits of IBS. “Using IBS, MGB has significantly reduced construction waste, energy consumption and our overall carbon footprint,” he states. This technology isn’t just a buzzword; it’s a game changer that allows MGB to streamline processes while minimizing the environmental impact. The incorporation of solar panels at various construction sites further amplifies their energy efficiency, showcasing a proactive approach to reducing greenhouse gas emissions. It’s a clear signal that MGB is not just talking the talk but walking the walk when it comes to environmental stewardship.
However, the road hasn’t been entirely smooth. Balancing cost efficiency with sustainability has posed a formidable challenge for MGB. Lim candidly notes that investing in greener technologies often comes with a higher price tag. Yet, he emphasizes that the firm is committed to finding cost-effective solutions within its supply chain. “Despite facing cost pressures, MGB innovates within our supply chain to find cost-effective green solutions,” he explains. This is where the rubber meets the road; the company is not only focused on short-term gains but is also educating its teams on the long-term financial and environmental benefits of adhering to ESG principles.
Looking ahead, Lim envisions a landscape where collaboration with key stakeholders becomes the norm rather than the exception. He calls for stronger support from the government, consumers, and investors to propel ESG adoption within the industry. “We would like to see more comprehensive green financing schemes in the market, tax incentives and grants that encourage sustainable construction practices or investment into green technologies,” he asserts. This is a rallying cry for the industry to come together and create an ecosystem that fosters sustainability.
Moreover, Lim stresses the importance of consumer awareness in driving demand for sustainable products and services. As consumers become more conscious of their choices, companies will have no choice but to adapt, leading to a broader adoption of ESG principles across the board. MGB is already paving the way with its zero-plastic policy on construction sites and ongoing workforce training on sustainability matters. This holistic approach not only enhances their operational efficiency but also addresses social responsibilities, particularly in affordable housing and community engagement.
In a world increasingly leaning towards sustainability, MGB Bhd’s journey serves as a blueprint for others in the sector. Their commitment to innovative practices and collaborative efforts could very well shape the future of construction, making it more environmentally friendly and socially responsible. As the industry evolves, the ripple effects of MGB’s initiatives may inspire a new wave of sustainable practices that redefine norms and expectations in construction.