Tengku Zafrul said the framework comprises four key components: standards, financial support and incentives, capacity building, and market mechanisms.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the framework comprises four key components: standards, financial support and incentives, capacity building, and market mechanisms.
He said the framework aims to encourage the manufacturing sector to embrace ESG practices by providing clear guidelines and enablers for companies, including small and medium enterprises .
"To that end, I sincerely hope that Malaysia’s financial industry will work closely with the Ministry of Investment, Trade and Industry to ramp up our collaborative efforts by being bolder and more aggressive on ESG financing and investments, especially for SMEs in our manufacturing, investments and trade value chains."
In 2021, he noted that there were 1.23 million SMEs, accounting for 97.4 per cent of all registered businesses in Malaysia.
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