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MGTC and Alliance Bank help SMEs transition to more sustainable practices

Kuala Lumpur, 28 October 2021 – Alliance Bank Malaysia Berhad (Alliance Bank) has signed a three-year Memorandum of Co-operation with the Malaysian Green Technology and Climate Change Corporation (MGTC) to help businesses transition to more sustainable practices.

Through this Memorandum of Co-operation, Alliance Bank will work with MGTC to promote the Green SME Nurturing and Development Programme to its customers. The programme comprises training, Green certification and business matching opportunities.

Alliance Bank and MGTC will help SMEs to improve their understanding of growth opportunities for ESG-compliant businesses. The programme aims to help SMEs structure their sustainability roadmap through consultation, training sessions, briefings and workshops.

MGTC will also help SMEs that are ESG solution providers obtain the MyHIJAU certification and be listed on the MyHIJAU Directory, an online resource for certified green products and services. The MyHIJAU Mark is the official Green recognition endorsed by the Malaysian government.

MyHIJAU-certified businesses can apply for tax exemption incentives such as the Green Investment Tax Allowances (GITA) and Green Income Tax Exemption (GITE). Certified businesses can also choose to be listed on the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) platform. Through the platform, they will be invited to participate in networking forums and activities.

At the same time, these businesses will be listed on Alliance Bank’s BizSmart® Solution portal. This online business community portal enables business owners to reach out to new customers and access relevant solutions and resources to manage their business more efficiently.

The bank provides Green financing with preferential rates to SMEs implementing sustainable business practices, including ESG solution providers. It will also help facilitate access to government grants such as the Green Technology Financing Scheme.

“As a bank that is focused on helping SMEs succeed, this collaboration with MGTC supports our commitment to help business owners adopt ESG practices and innovations to reduce their carbon footprint,” said Joel Kornreich, Group CEO of Alliance Bank.

“MGTC as a government agency have the role to mainstream the Green economy through Green products and service expansion programs, drive climate change mitigation actions such as advocacy for energy efficiency and renewable energy, low carbon city programs and low carbon mobility, and cultivate a Green lifestyle through publicity and awareness programs in fostering cooperation between the government and private sector on the global-scale platform. For that, we would like to see continuation of our joint efforts for building a long-term and strategic partnership between MGTC and Alliance Bank,” said Ts. Shamsul Bahar Mohd Nor, CEO of Malaysian Green Technology and Climate Change Corporation.

The bank has also recently signed a five-year Memorandum of Understanding with MGTC to run the EcoBiz Challenge programme for tertiary students. The programme integrates MGTC’s 20-week comprehensive learning programme, Jana Graduan Usahawan Hijau (JaGUH). This year’s EcoBiz Challenge 4 offers RM10,000 in cash for the Best Green Social Business Idea.

– Construction+ Online