Latest news with #PACE
BusinessToday
5 days ago
- Business
- BusinessToday
Malaysia's Commitment To Sustainability Reporting Aligns With Global Standards
The International Financial Reporting Standards (IFRS) Foundation has recognised Malaysia's commitment to sustainability reporting in its recently issued Jurisdictional Profile, noting that Malaysia is the only jurisdiction in the ASEAN region adopting the standards. This recognition in the Jurisdictional Profile underscores the global standing of Malaysia's National Sustainability Reporting Framework (NSRF). Launched in September 2024 and developed by the Advisory Committee on Sustainability Reporting (ACSR), the NSRF is a significant step in advancing Malaysia's corporate sustainability agenda. The NSRF phases in the adoption of ISSB Standards, specifically IFRS S1 and IFRS S2. Starting with a 'limited transition' approach, Malaysia extends certain transitional standard reliefs, including 'climate-first' reporting and deferred Scope 3 GHG emissions disclosures. This approach facilitates a smooth transition to full adoption of the ISSB Standards, while recognising the varying levels and maturity in sustainability practices and reporting across companies. The SC Chairman Dato' Mohammad Faiz Azmi said that the ACSR welcomes the ISSB's endorsement, which represents an important recognition of our efforts in using the ISSB Standards as the baseline for sustainability disclosures in Malaysia. 'The ACSR is cognisant of the high standards the ISSB Standards has set for sustainability reporting, and the challenges this may pose to entities. We remain committed to equipping reporting entities to meet these requirements,' he said. To ensure the readiness of applicable entities, the NSRF introduced the PACE (Policy, Assumptions, Calculators, Education) initiative, providing training, tools and resources. This includes training on interoperability between the Global Reporting Initiative (GRI) Standards and ISSB Standards conducted in March this year. Other upcoming PACE initiatives include the development of Illustrative Sustainability Reports to guide company disclosures and an NSRF Preparers' Programme to strengthen capacity. The ACSR will also continue engaging with the industry to understand sector-specific challenges in adopting the ISSB Standards. The first cohort of Jurisdictional Profiles was published by the IFRS Foundation on 12June 2025. The publication provides transparency to capital markets on the adoption approaches of different jurisdictions. Related
Yahoo
13-06-2025
- Business
- Yahoo
Floridians know hurricane-proofing works. Let's make it affordable.
Florida faced hard hits from three hurricanes last year, with many communities still reeling from the destruction. It may feel like the last season just ended, but the 2025 Hurricane Season is here and is expected, once again, to bring 'above average' activity. It seems like after each weather catastrophe, stories emerge, along with accompanying aerial drone footage, showing hurricane-resistant homes that somehow survived Category 4 or 5 winds and life-threatening storm surge amidst an expanse of destruction and homes that were not as fortunate. In 2024, a community near Tampa Bay, known as Hunters Point, proved resilient during Hurricane Milton thanks to homes raised 16 feet off the ground and secured with steel straps. Babcock Ranch, a Southwest Florida community, made national headlines in 2022 after standing strong through Hurricane Ian, as the entirely solar-powered community's homes were built to withstand Category 5 winds. 🌀 2025 Hurricane Season Guide: Storm preparedness tips, supply list, evacuation zones It has become clear that hurricane-proofing your home works, but there's one big catch: the cost. Most families are struggling with rising costs and a general level of economic uncertainty, which is forcing us to decide what is really important when it comes to budgeting. A recent study found that millions of homeowners are being blocked from accessing their home equity, compounding this problem. High interest rates, rising debt and pandemic-driven job disruptions have made it harder for many U.S. homeowners to access home-equity loans or lines of credit, which are often used to obtain capital for home renovations and a means to finance hurricane hardening. Despite a recent job market rebound, nearly 4.6 million mortgage holders have seen credit declines tied to labor shifts, limiting access to over $730 billion in equity. And with the economy expected to slow amid a growing trade war, many may find their home equity harder to tap, despite a $18 trillion surge in housing wealth over the past five years. With construction costs also on the rise and an aging housing stock, how are homeowners supposed to protect their families and their properties through traditional financing measures? Instead, we must look to innovative policy tools focusing on home sustainability and resiliency. More: Florida must strengthen its electrical grid before it's too late | Opinion Programs like Elevate Florida, a state-run grant program, offer money for raising homes or hardening them with new roofs, windows and doors. However, due to overwhelming demand, the program has already exhausted its funding. In communities throughout Florida, including in Palm Bech County and across South Florida, programs like the Residential Property Assessed Clean Energy Program (PACE) remain available to homeowners. Property owners looking to avoid high interest rates or steep upfront costs of traditional loans can opt for PACE, which allows them to finance upgrades over time through their annual property tax bill. Qualification is based mainly on the home's available equity and the owner's ability to repay, not their credit score, making it more accessible than conventional financing. To date, Florida has avoided well over $3 billion in disaster losses because of PACE home resiliency upgrades, and the PACE industry has had more than a $7 billion economic impact statewide. More: $103 million in hurricane home-hardening grants up for grabs again. How to get one As the next hurricane season looms, protecting your home shouldn't be a luxury, it's a necessity. While financial pressures are real, delaying critical storm-resilience upgrades can cost far more in the long run. Programs like PACE offer a lifeline, making it possible to invest in your home's safety without the burden of high interest rates or inaccessible credit. Every storm season brings new threats, but with the right tools and a proactive mindset, we can strengthen our homes, safeguard our families, and build more resilient communities. Julio Fuentes is president and CEO of the Florida State Hispanic Chamber of Commerce. He wrote this for The Palm Beach Post. This article originally appeared on Palm Beach Post: Florida weather damages homes. We need affordable protection | Opinion
New Straits Times
13-06-2025
- Business
- New Straits Times
Malaysia recognised for aligning sustainability reporting with global standard
KUALA LUMPUR: Malaysia has been officially recognised for aligning its sustainability reporting with global standards, said the Securities Commission Malaysia (SC). According to the International Financial Reporting Standards (IFRS) Foundation's latest Jurisdictional Profile, Malaysia is the only Asean nation acknowledged for adopting the International Sustainability Standards Board (ISSB) Standards with a limited transition approach. This recognition underscores the international credibility of Malaysia's National Sustainability Reporting Framework (NSRF), launched in September 2024 and developed by the Advisory Committee on Sustainability Reporting (ACSR), representing a major advancement in the country's corporate sustainability efforts. In the SC statement, Malaysia's adoption of ISSB Standards, specifically IFRS S1 and IFRS S2, includes transitional reliefs such as 'climate-first' reporting and deferred Scope 3 greenhouse gas (GHG) disclosures. "This approach facilitates a smooth transition to full adoption of the ISSB Standards, while recognising the varying levels and maturity in sustainability practices among companies," it said. SC chairman Datuk Mohammad Faiz Azmi said the ISSB's endorsement validates Malaysia's sustainability direction. "The ACSR welcomes the ISSB's endorsement, which represents an important recognition of our efforts in using the ISSB Standards as the baseline for sustainability disclosures in Malaysia," he said in the statement. He also added that the ACSR is cognisant of the high standards the ISSB Standards have set for sustainability reporting and the challenges this may pose to entities. To support organisations in meeting these new standards, the NSRF has introduced the policy, assumptions, calculators, and education (PACE) initiative, offering training, tools, and technical resources. This includes earlier training sessions on interoperability between the ISSB and Global Reporting Initiative (GRI) Standards, which were conducted in March. "Further PACE efforts include the development of illustrative sustainability reports and an NSRF Preparers' Programme to strengthen disclosure capabilities. The ACSR also plans to continue industry engagement to address sector-specific adoption challenges," it said.
Yahoo
10-06-2025
- Health
- Yahoo
Participants in program for elderly to rally in Lansing against Medicaid cuts
GRAND RAPIDS, Mich. (WOOD) — Potential Medicaid cuts in Congress could impact millions nationwide, including thousands in West Michigan. Advocates: Medicaid 'not a luxury,' lawmakers need plan for fallout At least 200 participants in the Program of All-Inclusive Care for the Elderly, or PACE, are visiting Lansing on Tuesday to urge state lawmakers to protect the program. PACE helps low-income seniors remain in their homes through care funded by Medicaid and Medicare. Sarah Milanowski, enrollment manager at LifeCircles PACE, said the issue affects both state and federal decision-makers. 'Medicaid is a state-administered program that has a portion of its funds from the federal government, and then the state matches funds,' she explained. 'So, as our local lawmakers are planning for their budget into the future, they are trying to hedge their bets about what might or might not be happening in Washington, D.C.' Republicans look for reset on Trump's 'big, beautiful bill' More than 2.6 million Michigan residents rely on Medicaid, according to the Michigan Department of Health and Human Services. That includes the 7,000 who use PACE services for medical care, transportation, prescriptions and more. PACE advocates are scheduled to meet with lawmakers starting at 9:30 a.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Time of India
05-06-2025
- Health
- Time of India
Punjab CM Bhagwant Mann hails 44 govt school students who cleared JEE (Advanced)
Chandigarh: Punjab chief minister Bhagwant Mann on Thursday felicitated 44 govt school students who successfully cleared the prestigious JEE (Advanced) exam. He asserted that the 'Sikhiya Kranti' initiative, launched by his govt to revitalise the education sector, was enabling the state to produce such achievers. Mann said the primary aim of Sikhiya Kranti was to make Punjab a frontrunner in education. "These students are now scripting new success stories every day and bringing laurels to the state," he said. He said that due to the state govt's efforts, Punjab was on its way to becoming a technological hub. Mann added the day wasn't far when high-end technology companies would queue up to recruit Punjab's youth, a transformation that will position the state as a centre for innovation, technological advancement, and economic growth. Mann said new medical colleges and hospitals were being set up to provide quality education. In addition, he said, eight UPSC coaching centres are being set up across Punjab to train students for competitive examinations. In related news, Punjab education minister Harjot Singh Bains said state govt has set a target to double the number of govt school students securing IIT admissions in the coming academic session. The move comes after 44 govt school students successfully cleared JEE (Advanced), he added. Addressing a press conference at Punjab Bhawan, Bains credited the success to the govt's efforts to empower students to crack competitive exams like JEE and NEET through the Punjab Academic Coaching for Excellence (PACE) programme, which was launched in Nov 2023. PACE provides free coaching, including live online classes, doubt-clearing sessions, mock tests, and residential camp coaching. This initiative has bridged the financial gap by enabling govt school students from humble backgrounds to compete with private school peers.
