KUALA LUMPUR, MALAYSIA –
Media OutReach – 28 July 2023 – MSIG Insurance (Malaysia) Bhd “(MSIG Malaysia)”, has planted about 6,247 mangroves throughout Malaysia in a partnership with the Malaysian Nature Society (MNS) which stretches back to 2019. The mangrove planting programme, which has grown in scale each year since establishment, aims to protect coastal communities from property damage due to flood and serves as an important source of biodiversity in the future.
In 2022, MSIG partnered MNS to plant 3,415 mangrove saplings in Penang, Kedah, Negeri Sembilan, Melaka, Johor, Terengganu and Perak and they plan to build on that total in 2023. MSIG intends to maintain their support of MNS as part of their commitment to the United Nation’s (UN) Sustainable Development Goal (SDG) 13: Climate Action.
In addition to financially supporting the planting programme, many MSIG employees also took time out of their usual work routines to volunteer in the planting activities facilitated by MNS in various parts of the country.
Commenting on initiative, MSIG Chief Executive Officer Mr. Chua Seck Guan said, “In conjunction with the International Day for the Conservation of the Mangrove Ecosystem that is celebrated annually on 26 July, MSIG wishes to use this opportunity to express our continued interest in supporting mangrove conservation and raising awareness of the pivotal role mangroves play in our ecosystem.
“Mangroves are a vital resource for Malaysia given their role of protecting coastal communities from erosion and floods by stabilising riverbanks and coastlines. They also serve as significant sources for biodiversity and are the breeding ground and habitat for many varieties of fishes and other marine life. As such it is crucial that they are protected and conserved in order to secure the wellbeing of our coastal communities and future generations.
“Apart from protecting coastal communities and restoring biodiversity, mangroves are also excellent carbon sinks. They are one of the most effective trees in the world for soaking up carbon dioxide in the atmosphere that causes climate change. As such, protecting and growing our mangroves play an important part in combating and mitigating the effects of climate change.
“Given the vast benefits that mangroves provide to the people and environment, we look forward
to further our mangrove planting efforts with MNS in 2023 to support the conservation of these trees.
“This reflects MSIG’s continuous effort in providing for the wellbeing of Malaysians, both through our insurance products and our actions as a responsible business, keeping in mind to give back to society and protecting the environment that we operate in,” said Mr. Chua.
The mangrove planting initiative is one of many sustainability programmes that MSIG has undertaken over the past few years. These programmes are carefully planned and considered to ensure that they are in line with United Nations Sustainable Development Goals. Some of the programmes are focused on cultivating a zero-waste movement among MSIG employees through various educational activities and contests. This environmentally conscious approach can also be seen in the general insurer’s products such as MSIG EZ-Mile Motor Add-On (Pay As You Drive) and Solar Photovoltaic (PV) All Risks (protects solar PV system against loss or damage due to fire, theft and accidental damage).
As an effort to further raise awareness of the importance of mangroves, MSIG will be planting one mangrove sapling for each MSIG EZ-Mile Motor Add-On policy purchased through MSIG Online within 26 July to 25 August 2023 in recognition of the International Day for the Conservation of the Mangrove Ecosystem.
MSIG also makes annual monetary contributions and donations in-kind to various non-governmental organisations (NGOs) that focus on community welfare, medical care and other causes.
The mangrove planting programme is part of MSIG’s biodiversity conservation initiatives in Malaysia, in alignment with the general insurer’s corporate efforts in protecting and enhancing the planet’s natural capital.
The issuer is solely responsible for the content of this announcement.