Malaysia to launch ESG plan by year-end, says Tengku Zafrul
International Trade and Industry Minister Tengku Zafrul Abdul Aziz says Malaysia’s ESG framework will help SMEs with funding and capacity building for export. – The Malaysian Insight file pic, April 11, 2023.
“A lot of our export markets are asking exporters to be ESG-compliant, so we need to prepare our companies, especially our SMEs, to be more ESG-compliant,” he told reporters after the launch of Malaysia’s first battery energy storage system for renewable energy in Bangi today. Tengku Zafrul said one of Malaysia’s competitive advantages is renewable energy, and local innovation such as MyBess will attract more investments into Malaysia.
“This will further enhance the smart grid integration between electric vehicles and infrastructure in Malaysia. This development will support both upstream downstream industries and complete the demand-supply of battery-repurposing, power-generation and carbon-reduction initiatives,” he said.
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