Petronas is encouraging Malaysia’s oil and gas services and equipment suppliers to embrace sustainability principles by providing training and tools to help them adopt new practices.
Petronas will help with ESG knowledge and capacity building programs and provide suppliers with a suite of tools designed to assist in effectively measuring, managing and reporting carbon emissions and sustainability risks.
Participants will also have access to financing including Bank Negara Malaysia’s Low Carbon Transition Facility and High Tech and Green Facility to support their transition efforts.
Petronas Executive Vice President and Group Chief Financial Officer, Liza Mustapha, said: “We recognize that oil and gas services and equipment suppliers, especially SMEs, face resource constraints in implementing sustainability practices, and these practices are key in enabling the energy transition. We are rallying together with our suppliers in support of a just transition that ensures no one is left behind. The PETRONAS Supplier Support Programme is a significant milestone, providing a platform for the industry to demonstrate practical action and inspire others to act.”
The PETRONAS Supplier Support Programme is being undertaken in collaboration with the Joint Committee for Climate Change (JC3) Greening Value Chain Programme, Bursa Malaysia and the UN Global Compact Network Malaysia & Brunei (UNGCMYB).