Maybank mobilises close to RM40bil in sustainable finance

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has cumulatively mobilised close to RM40 billion in sustainable finance and has improved nearly 970,000 households across Asean since 2020.

Group chief executive officer Datuk Khairussaleh Ramli said the bank has also reduced 43.5 per cent of its scope 1 and 2 emissions and achieved close to 260,000 annual sustainability hours.

“I am pleased to mention that we continue to progress in our sustainability commitments and are in line with our M25+ strategic thrusts of becoming a sustainability leader in the region.

“Besides being on track in terms of our targets, we have also implemented policies, thoughts and practices across our business to ensure that the group holistically embraces sustainability,” he said in his speech at the Grand Celebration of the Maybank Group Sustainability Week today.

In conjunction with its Sustainability Week, the bank has announced three new initiatives — the Maybank Sustainability Practitioner Certification Programme, the launch of the Emission Calculator and the introduction of the myimpact Visa Signature credit card and Maybank Islamic myimpact Mastercard Platinum credit card.

Khairussaleh said the bank aimed to get 20,000 new card users through its newly launched credit cards by end-2023.

“Our aim is to create a heightened responsibility and awareness for environmental, social and governance (ESG)-friendly spending.

“We have created a path for our customers to understand their personal carbon impact through their lifestyle consumptions and provide solutions to track, monitor and minimise carbon footprints through carbon offset initiatives,” he said

The myimpact credit card, made from bio-sourced polylactic acid, features a ground-breaking initiative deemed first-of-its-kind in the country, provides mechanisms for card members to track their carbon footprints, offers rewards for sustainable lifestyle and eco-purchases as well as allows for carbon offsets through contributing towards various reforestation activities in the region.

Khairussaleh said the introduction of the Maybank myimpact credit card is a testament to the group’s commitment towards living its purpose of being a values-based platform, incorporating the features of sustainability and ethical principles into our solution and offerings to customers.

He said it is also part of the bank’s overall plan to build awareness of sustainability among consumers while providing them with avenues to exercise their commitment to ESG practises. – BK