Transformations  in
Business & Economics

Greenhouse Emission Reduction and Sustainable Development in South East Asia
Susela Devi, Edward Sek Khin Wong

ABSTRACT. This paper has three objectives: firstly, to uncover the perceptions of top management, that is the Chief Executive Officers, Chief Financial Officers or Finance Directors, concerning the current debate on climate change. Secondly, to discover what current steps are taken that address sustainability and what barriers exist for Malaysian companies to deal in carbon trading, and thirdly, to understand the extent that climate change is perceived as a business strategy.

The conducting of thirty in-depth interviews with top management of 30 Malaysian companies selected at random, form the database used in this article.

The results of this survey reveal that the respondents perceive that a carbon trading mechanism is not an effective mechanism for addressing global warming. However, there are indications that some companies consider this a strategic issue worth considering.

The study reveals that political and social awareness is an issue and that policy makers can examine suggestions to enhance sustainability development mechanisms. The paper uses an action research methodology to engage with Malaysian company management concerning available and adoptable sustainability practices. This is the first study in the context of a developing country.

KEYWORDS: sustainable accounting, global warming, Kyoto protocol, auditing strategy, Malaysia.

JEL classification: M48, Q28, Q54, Q56.