Bank Negara launches greening value chain programme

KUALA LUMPUR: Bank Negara Malaysia (BNM) has collaborated with financial institutions and strategic partners to launch the greening value chain (GVC) programme in conjunction with Finance Day at COP-27.

COP-27 is the 27th United Nations climate change conference which is being held from Nov 6 to 18, 2022 in Sharm El Sheikh, Egypt.

In a statement today, BNM said the GVC programme aims to assist Malaysian small and medium enterprises (SMEs) in implementing impactful, long-term change to green their operations.

"This can be achieved through offering of technical advice by participating organisations and transition financing from the Low Carbon Transition Fund (LCTF),” it said, adding that the programme would also provide technical training and on-site diagnosis.

BNM governor Tan Sri Nor Shamsiah Mohd Yunus said as Malaysia is an exporting nation, many Malaysian SMEs form part of global supply chains that need to adapt to the changing policies of the country’s trade partners to remain resilient and globally competitive.

"This includes addressing value chain emissions to keep pace with the global race towards net zero and to prepare for policies that may be imposed by our trading partners.

"The GVC programme is one step in helping SMEs make this important transition,” she said. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!


Next In Business News

Trading ideas: Sime Darby Property, IOI, Telekom, Mi Tech, Greatech, Malakoff, Matrix, Sports Toto and SAM
Ad expenditure forecast to grow this year
Sustained effort vital for facing cybersecurity risks
Overall inflation likely at 3.2% in 2024
Sweet situation in store for MSM’s prospects
Wilmar: Tough conditions may continue
A sign of optimism
CIMB’s succession planning coming into sharp focus
Quebec pension hit with real estate loss as ‘hostile’ market persists
Strong earnings visibility for Matrix Concepts

Others Also Read