KUALA LUMPUR: Small and medium enterprises (SMEs) need to swiftly integrate environmental, social, and governance (ESG) practices into their business operations to maintain their competitiveness in the market and ensure long-term sustainable advantages, Bank Negara Malaysia (BNM) said.
The central bank noted that the global enforcement of ESG regulations by certain countries, such as those in the European Union, has had an impact on Malaysia’s direct and indirect exporters involved in the supply chain.
