KUALA LUMPUR: RHB Bank Bhd's subsidiary, RHB Insurance Bhd has introduced Malaysia’s first environmental, social, and governance (ESG) Incentive Scheme for SMEs, offering financial rewards to encourage sustainable practices and bolster business resilience.
In a statement, RHB said eligible SMEs demonstrating strong ESG commitments can receive an incentive of up to RM4,000, to be invested in selected RHB Insurance products.
It said this initiative enhances SMEs' risk management, shielding their businesses from unforeseen events while supporting their sustainability goals. Ultimately, this innovative campaign strengthens business resilience and helps SMEs develop a more diversified insurance portfolio tailored to their unique needs.
“With the growing importance of sustainability practices, RHB Insurance recognises SMEs’ unique challenges and opportunities. As the backbone of Malaysia's economy, these 1.15 million SMEs account for 97% of businesses and contribute significantly to the nation’s success. However, despite their critical role, only 15% of SMEs in Malaysia have insurance, leaving them vulnerable to business and financial risks,” RHB Insurance managing director/CEO Oliver Tan.
“We are proud to be the first insurance player in Malaysia to launch this first-of-its-kind scheme, supporting and rewarding SMEs who embed ESG practices into their business strategy and operations. This innovative programme offers unparalleled advantages to SMEs on their sustainability journey. By empowering SMEs, we contribute towards building a more sustainable and resilient economy,” he added.
For more information on the RHB Insurance ESG Incentive Scheme, visit https://www.rhbgroup.com/rhbi-esgscheme/.
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