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 promote Carbon Net Zero across our entire business and financed customer portfolio.
- We commit to incorporate ESG into our governance and risk management approach.
- We commit to identify, mitigate & manage risks of modern slavery and human rights.
- We commit to support financing for Agribusiness customers.
- We commit to encourage sustainable practices within the high impact sectors for ESG.
- We commit to promote social & financial inclusion to ensure a sustainable future.
- We commit to promote transparency by making periodic disclosures on our ESG practices and progress.
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.
