KUALA LUMPUR: Small and medium enterprises need to swiftly integrate environmental, social, and governance practices into their business operations to maintain their competitiveness in the market and ensure long-term sustainable advantages, Bank Negara Malaysia said.
Thus, this may affect the way SMEs do business in the future, especially when demand for suppliers to comply with ESG practices continues to rise, BNM said during a media workshop"Sustainability in Financial Sector: Greening Finance and Financing Green” at Sasana Kijang here today. "There will be some costs and investments for SMEs to undertake transition measures but it will provide long-term benefits for the business,” BNM said.
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