Green Transition Challenges faced by SMEs

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The story " Green Transition Challenges faced by SMEs" was covered 1 months ago by The Star, a news publisher based in Malaysia.

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The Star 1 mo ago

Green Transition Challenges faced by SMEs - The Star

Quick Summary:

It is unclear whether Malaysian SMEs are ready to comply with the EU’s new reporting standards, Carbon Border Adjustment Mechanism (CBAM), or whether they need to spend more on compliance as well as invest in environmentally friendly production processes.

Interestingly, Alliance Bank Malaysia Bhd published a report that showed that while 59% of these SMEs have implemented or are exploring ESG practices on their own terms, only 14% of SMEs have heard of ESG.

The CBAM provides a level playing field for EU producers, who are required to comply with internal regulations on carbon emissions, by pricing these emissions created during import manufacturing processes.