Kossan Rubber Industries Bhd has entered the Malaysia Book of Records for being the first glove manufacturer in the country to establish a strategic partnership with Bank Negara Malaysia (BNM) for its Greening Value Chain (GVC) programme to help SMEs in decarbonisation.
The GVC bolstered Kossan’s corporate sustainability values and empowered its SME suppliers by identifying their baseline and emission-intensive areas within their operations to aid the transition to lower-carbon operations, which exemplifies Kossan’s tenacity in environmental, social and governance (ESG).
Since the rollout of the programme on March 7, Kossan has made significant progress in onboarding its SME suppliers to be a part of its sustainability efforts. About 21% of Kossan’s selected SMEs enrolled for GVC training, which went in-depth about carbon management and reporting. This resulted in 72% of them adopting Pantas’ carbon accounting software provided through the GVC training. This programme also enables these SMEs to access BNM’s Low Carbon Transition Facility to fund their working capital or capital expenditures related to ESG at an affordable rate.
‘’To achieve a green supply chain requires collective understanding and effort from all stakeholders. For that, we thank our suppliers for their enthusiasm and cooperation in being part of this programme. In our recent engagements with our stakeholders, we have received an overwhelmingly positive response and appreciation that our GVC programme has been timely and provided substantial input, guidance and incentives,” said Kossan Group managing director and CEO Tan Sri Lim Kuang Sia.
The company’s accomplishment in establishing this pioneering programme for its SME suppliers in a strategic partnership with BNM is aligned with Kossan’s LIVE Sustainability Principles’ goals of creating shared values through a sustainable ecosystem.
Kossan sustainability chairman Lawrence Lim, who accepted the award on behalf of the group, said: “We are honoured to be recognised by the Malaysia Book of Records for our efforts and we will do our best to nurture sustainability at Kossan, inspiring positive change within our industry and beyond.”
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