NEWS: ABM announces collaborations to champion sustainable practices

The Edge TV

The Association of Banks in Malaysia has announced a collaboration with the UN Global Compact Network Malaysia & Brunei to support SMEs in their sustainability journey.

Transcript

00:00 As Chairman of ABM, I am pleased to announce a series of initiatives that industry is championing

00:06 in an effort to further advance the cause of developing a more sustainable and resilient future.

00:13 Firstly, I am happy to share that ABM, together with the Association of Islamic Banking and Financial Institutions Malaysia or IBIM,

00:23 will be entering into an MOU with UN Global Compact Network Malaysia and Brunei,

00:31 focusing on advancing sustainability practices and supporting the emerging generation of business leaders

00:38 in championing sustainable development.

00:41 One of the primary initiatives of this partnership involves organising capacity building sessions

00:47 tailored particularly for SMEs in Malaysia.

00:50 We know that SMEs are an integral part of the Malaysian economy, with over 1.15 million MSMEs nationwide,

00:59 employing close to 50% of the country's total workforce.

01:02 So these efforts hope to address the many challenges SMEs are currently facing

01:07 when it comes to the adoption of ESG practices.

01:11 We all recognise that net zero is a journey.

01:14 There are many things we still do not know and many things to figure out.

01:19 Whilst we are certain that the momentum will pick up, especially through transition finance,

01:24 it is imperative that we contribute early on, just as simple as through decarbonisation.

01:31 [BLANK_AUDIO]

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