Enhancing Sustainable Growth Among Malaysian SMEs

This proposal presents a collaborative research initiative between the School of Business, Monash University Malaysia, and Alliance Bank Malaysia Berhad. The primary goal of this project is to delve into understanding and advancement of the adoption of Sustainability / Environmental, Social, and Governance (ESG) practices among Small and Medium-Sized Enterprises (SMEs) in Malaysia.

This research is structured into well-defined phases including discovery, quantitative exploration, qualitative validation, and activation, each building upon the insights and findings of the different phases. Drawing from a backdrop of discussions surrounding Sustainability / ESG practices among SMEs, particularly in Malaysia, this research study aims to provide a nuanced understanding of the current level of ESG adoption, and the challenges to such adoption among Malaysian SMEs. The initial exploratory phase study that has been conducted by Alliance Bank has laid a foundation, providing insights into the ESG practices among SMEs in Malaysia. This research will build on this initial study to provide deeper findings concerning ESG adoption among SMEs through which the aim is to develop some novel frameworks, inform policy development, guide financial institutions in providing support and design ESG-centric financial products, and foster educational programs aimed at enhancing the understanding and implementation of ESG practices among the SMEs.