THE Penang Green Agenda 2030, initiated by the state government, actively promotes the integration of ESG (Environmental, Social, and Governance) practices within the manufacturing sectors, says Chief Minister Chow Kon Yeow.
“ESG compliance is required in the manufacturing sector and it has become one of the main focuses of the Penang Green Agenda.
“We target small and medium-sized enterprises (SMEs) for ESG adoption, recognising that multinational companies (MNCs) are equipped to manage their sustainability initiatives independently.
“Despite this, the expertise of MNCs remains crucial, positioning them as valuable stakeholders. We aim to unite SMEs on a common platform, facilitating the implementation of ESG practices with the support and guidance of these experienced entities,” Chow said during a press conference held at the Penang Institute today.
Chow stressed the significance of SMEs bolstering their capacity to adhere to ESG standards for sustained business success.
Additionally, proactive steps are being taken to offer green financing to SME factories in need.
Chow anticipated that ESG compliance would become imperative for all sectors in the near future.
He was at the Penang Institute to attend the Green Production Forum.
The forum was jointly organised by the Penang Green Council (PGC), Malaysian Green Technology and Climate Change (MGTC), the Federation of Malaysian Manufacturers (FMM) Penang Chapter, and a team from Sweden.
Chow also highlighted that companies that prioritise ESG often experience enhanced long-term performance and are more appealing to investors, customers, and employees.
Meanwhile, the Ambassador of Sweden to Malaysia, Dr Joachim Bergstorm commended the state government for being the pioneer in sustainability efforts as well as setting the goal for others to follow.
Also present were state Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu, Pengkalan Kota assemblyman Wong Yuee Harng, PGC assistant general manager Hoo Huey Ching, PGC project manager Dr Ng Shin Wei.
Story by Tanushalini Moroter
Pix by Law Suun Ting
Video by Alissala Thian