CEO Morning Brief

AmBank, Pantas Team Up to Incentivise SMEs Under BNM's Greening Value Chain Programme

Publish date: Fri, 24 Mar 2023, 08:43 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (March 23): AmBank Group and Pantas Software Sdn Bhd have signed a memorandum of understanding to collaborate under the Greening Value Chain (GVC) programme to incentivise and assist Malaysian small and medium enterprises (SMEs) in implementing impactful, long-term change to green their operations.

The GVC programme, an initiative by Bank Negara Malaysia (BNM) together with Pantas as one of the GVC strategic partners, is envisaged to help SMEs begin their journey in sustainability reporting, tackle climate change and reduce the nation’s carbon footprint.

AmBank is Pantas’ official banking partner for the GVC programme, and will be providing relevant sustainability-linked financing products to SMEs, the partners said in a joint statement on Thursday (March 23).

“The partnership aims to provide innovative financing solutions to SMEs that promote climate resilience, reduce greenhouse gas emissions, and contribute to a more sustainable future,” they said.

The collaboration between Pantas and AmBank will see developments of new financial products that link SME financing to sustainability performance.

According to the statement, Pantas’ carbon accounting software will be offered for free to selected clients of AmBank and GVC participants to measure and track their climate and sustainability key performance indicators (KPIs).

“This will enable SMEs to demonstrate their commitment to tackling climate change, while also benefiting from innovative financing solutions, and BNM’s Low Carbon Transition Facility of RM2 billion to support their growth and development,” it said.

In addition, Pantas and AmBank will work with other service provider partners with the support from the Joint Committee on Climate Change, which is co-chaired by BNM and the Securities Commission Malaysia, to provide free training, carbon accounting software and technical expertise to help SMEs meet sustainability KPIs.

“The Pantas accounting software will also provide the pivotal green measurement solutions, which are imperative in providing credible data for our collective reporting obligations under the broader environmental, social, and governance agenda,” the statement said.

Source: TheEdge - 24 Mar 2023

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