Sustainability

What do financial institutions have to do with sustainability?

18 October 2023

4-min read

Plenty.

 

With sustainability being the buzz word and gaining traction, more people are getting a better understanding of what it actually is and what it truly means. Far from being just tree hugging or simply recycling your waste, sustainability is far-reaching and permeates almost every aspect of, well, everything.

 

The choices you make play a part in making this world more sustainable, and while the examples stated above do make a difference, there are other decisions that you make daily that have great impact on the planet. So what should you do? Look closely at businesses you patronise, and the products and services that you consume and engage.

 

Banking on Sustainability
While banking may seem like the last thing to come to mind when it comes to sustainability, it actually plays a part in your sustainability journey. Is sustainability high on your list of priorities? What does the institution represent? Do you want to be a part of an organisation that furthers sustainability?

 

So how do banks factor in? As the finance sector plays a large role in the development of economies, the decisions made by these organisations can have huge impacts; on the economy, on the community and on the planet. Your bank of choice should be one that is aligned to your own values and purpose.

 

There are many financial products and solutions to meet your needs, and those specifically to address and aid your journey in sustainability. Do you want a greener home? Find out what your bank has to offer in this regard, solar financing perhaps. An electric vehicle that won’t be polluting the environment? Check out special financing for EVs. These are just the surface of what your bank can do for you. A bank however, should be committed to far more than just that.

 

What do financial institutions have to do with sustainability?

 

Maybank’s Commitment to Sustainability
Maybank is firmly planted on the journey to sustainability and we have made commitments that we are well on our way to fulfilling.

Our four main commitments are:

  • To mobilise RM80 billion in sustainable finance by 2025 – Facilitating the movement of capital towards sustainable financing and investments, through direct lending, investments, syndication, fundraising, underwriting and advisory, while integrating ESG criteria to bring about sustainable development outcomes and support the transition to a low carbon economy.

  • To improve the lives of 2 million households across ASEAN by 2025 – Leveraging our regional presence and our flagship programmes, we aim to contribute towards the betterment of communities across ASEAN. We aim to create a more equitable society by equipping communities with lifelong financial skills and knowledge, addressing communities’ current and situational needs, as well as building their financial resilience.

  • To achieve a Carbon Neutral Position of our own emissions by 2030 and Net Zero Carbon Equivalent position by 2050 – The Carbon Neutral by 2030 commitment refers to the Group’s own emissions, while the Net Zero by 2050 commitment refers to maintaining a balance between all direct and indirect CO2e emissions and removals, encompassing our operations and the business activities we finance across the Group.

  • To achieve 1 million hours per annum on sustainability and delivering 1,000 significant SDG-related outcomes by 2025 - Our employees play a pivotal role in ensuring that we embed sustainable actions and thinking across the Group. We are committed to fostering a sustainability culture among Maybankers by strengthening our business ethics, policies and practices, embracing diversity and inclusivity, and scaling up our employee volunteerism programmes.

 

In being guided by and keeping to these commitments, we mitigate the impact of our activities and operations to ensure a sustainable and environmentally-friendly future for all moving forward.

 

We are firmly committed to people and planet.

 

More on Maybank’s sustainability journey is available in our Sustainability Report.

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