ESG Principles for commercial Banking Industry
The Association of Banks in Malaysia (ABM) and its members recognise that the objective of achieving carbon net zero whilst ensuring just transition is a huge challenge facing all of us. Therefore, in support of the Government of Malaysia’s Intended Nationally Determined Contribution in accordance with the United Nations Framework Convention on Climate Change and as enablers of a just transition, ABM has launched the following 7 ESG Principles at the Malaysian Banking Conference 2022 jointly organised by ABM and Asian Institute of Chartered Bankers (AICB) held on 13 September 2022:-
- We commit to promoting Carbon Net Zero across our entire business and financed customer portfolio.
- We commit to incorporating ESG into our governance and risk management approach.
- We commit to mitigating risks of modern slavery and upholding human rights across our value chain.
- We commit to encouraging sustainable practices within the high impact sectors for ESG.
- We commit to promoting social & financial inclusion to ensure a sustainable future.
- We commit to promoting transparency by making periodic disclosures on our ESG practices and progress.
- We undertake to progressively integrate biodiversity and nature-related considerations into our financing decisions.
Besides the ABM ESG Principles, some banks have also announced their respective ESG or sustainability framework. Please click on the links below to learn more about each bank’s own framework.
