News Release


Agreement Reached on Memorandum of Understanding on Developing Environmental Business with Federation of Malaysian Manufactures and Green Purchasing Network Association Malaysia(1/1)

 

April 20, 2010

 

Sumitomo Mitsui Banking Corporation

 

 

Agreement Reached on Memorandum of Understanding on Developing Environmental Business with Federation of Malaysian Manufactures and Green Purchasing Network Association Malaysia

 

TOKYO, April 20, 2010 -- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced that it will sign today a Memorandum of Understanding (MOU) with Federation of Malaysian Manufacturers (FMM, President: Tan Sri Datuk Mustafa Mansur, also President of GPNM) and Green Purchasing Network Association Malaysia (GPNM), a non-governmental organization that promotes Green Purchasing, to develop environmental business in Malaysia.

 

The environmental business is growing in Malaysia thanks to the effective use of Clean Development Mechanism (CDM). Further, at the Fifteenth Session of the Conference of Parties to the United Nations Framework Convention on Climate Change (gCOP15h) last December, Malaysian Prime Minister Mohd Najib bin Tun Haji Abdul Razak announced to reduce CO2 emission by 40% from the 2005 level by 2020 and this is expected to accelerate the growth of environmental business.

 

The aim of this MOU is to enhance the environmental business in Malaysia by capitalizing on FMMfs domestic membership of over 2,400 companies, GPNMfs know-how in promoting Green Purchasing (a movement to give priority to purchasing eco-friendly products and services), and SMBCfs financing and CDM expertise and experience in environmental projects to promote cooperation among Malaysian companies and Japanese companies with sophisticated environmental technologies.

 

The aim of SMBC is to further grow our business in Southeast Asia by developing the environmental business in Malaysia where there is a high potential for reducing greenhouse gases.

 

 

(Reference)

 

·     Outline of FMM

FMM, established in 1968, is the largest organization of Malaysian manufacturers with a membership of over 2,400 companies.

 

·     Outline of GPNM

GPNM, established in 2003, promotes giving priority to purchasing products and services from eco-friendly companies (gGreen Purchasingh) in Malaysia.

 

 




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