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.
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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.
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