KOSSAN Rubber Industries Berhad (“KOSSAN”), has been honoured with an accolade from the Malaysia Book of Records for being the first glove manufacturer in Malaysia to establish a strategic partnership with Bank Negara Malaysia (“BNM”), for its Greening Value Chain (GVC) Programme to SMEs.
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).
From L to R: Lawrence Lim, Sustainability Committee Chairman, KOSSA Rubber Industries Bhd, Jwan Heah Hooi, Chief Marketing Officer, Malaysia Book of Records
Since the rollout of the GVC Programme on 7th March 2023, KOSSAN has made significant progress in onboarding its SME suppliers to be a part of its sustainability efforts. 21% of KOSSAN’s selected SMEs enrolled on the 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 (LCTF) 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 Tan Sri Dato’ Lim Kuang Sia, Group Managing Director and CEO of KOSSAN.
The company’s accomplishment in establishing this pioneering programme for its SME suppliers in a strategic partnership with BNM is aligned with KOSSAN’s L.I.V.E Sustainability Principles’ goals of creating shared values through a sustainable ecosystem.
Lawrence Lim, Sustainability Chairman at KOSSAN, who accepted the award, stated, “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.”
Environmentalism is one of the key values of KOSSAN’s foundation and the company remains steadfast in exploring inventive methods to champion sustainability, whether by empowering their SME suppliers or through its L.I.V.E Principles. This honourable award affirms KOSSAN’s position as part of the sustainability driver to shape a green future for Malaysia. For more information about KOSSAN and its other initiatives, please visit kossan.com.my.