Kuala Lumpur: Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad said Malaysia will pragmatically adopt the expected changes in global environmental and sustainability policies following the inauguration of Donald Trump as President of the United States.
He also said the government would maintain open communication with the US administration.
“Malaysia will continue to be focused on the multilateral process when it comes to climate and the environment and we believe Malaysia will be our best partner for sustainability,” he told reporters at the launch of Alliance Bank’s ESG 2.0 report at the SME ESG Start. That’s how it works to further the cause.” Symposium 2025 today.
He said that as an open trading country, with the US and China as its two largest trading partners, Malaysia will remain open to cooperation with all.
“We cannot ignore America. It is a big economy and a major world power, but we also have other partners, and we will talk, trade and engage with all of them.
On January 20, 2025, Donald Trump was inaugurated as the 47th President of the United States, serving his second consecutive term.
On the resumption of Malaysia-EU Free Trade Agreement (MEUFTA) negotiations announced during Prime Minister Datuk Seri Anwar Ibrahim’s recent working visit to Brussels, Nick Nazmi is optimistic about the potential benefits of the agreement.
“Malaysia is a trading country. “More platforms and opportunities for business is always a positive development.”
Nick Nazmi said the EU has a lot of requirements when it comes to sustainability, environment, climate, emissions, forestry.
“So the fact that we are able to move forward and expand on this shows that the Malaysian economy is kind of ready for this.”
Alliance Bank Malaysia Bhd launched the second edition of its annual ESG survey report, titled “The Path to Sustainable Impact – Sectoral Insights of Malaysian SMEs” (ESG 2.0 Report), which revealed a six-fold increase in ESG awareness among Malaysian SMEs. Revealed.
It said the awareness rate has increased from 14% to 80% over the past two years, reflecting the rapidly growing recognition among SMEs about the importance of sustainability in today’s competitive business landscape.
Based on the Bank’s inaugural report in 2023, the ESG 2.0 report was launched in collaboration with Monash University Malaysia and Zurich Malaysia as knowledge partners; United Nations Global Compact Network Malaysia and Brunei, SME Corporation Malaysia as well as INCEIF University as supporting partners.
Nick Nazmi commented that this effort plays a role in strengthening Malaysia’s ESG ambitions, fostering resilience and preparing businesses for both local and global opportunities.
He said the publication is welcomed as Malaysia takes over the chair of the Association of Southeast Asian Nations (ASEAN) in 2025, noting how important SMEs are to the region’s economy as well as its ESG agenda.
“It is estimated that there are 70 million MSMEs in ASEAN, accounting for between 97.2%-99.9% of the total establishments in ASEAN member states,” he said.
As part of its sustainability agenda, Alliance Bank aims to achieve RM15 billion in new sustainable banking business by FY27.
To date, the bank has recorded RM13.6 billion in new sustainable banking business from FY22.
