KUALA LUMPUR: Malayan Banking Bhd (Maybank) has received an 'AA' rating from MSCI ESG Ratings for the second consecutive year.
In a statement today, Maybank said the leadership rating of 'AA' places it among the top 36 per cent of 189 diversified banks rated globally based on the MSCI ACWI Index (All Country World Index), of which only 4.0 per cent achieved the highest rating of AAA.
The rating, it said, was based on an assessment of Maybank's sustainability policies and practices covering seven broad areas including financing environmental impact, consumer financial protection, and human capital development.
Group president and chief executive officer Datuk Khairussaleh Ramli said Maybank's sustainability commitments are part of its journey to realise the ambition of becoming a regional environmental, social and governance (ESG) leader.
"We are accelerating all efforts through our M25 Plan to help drive positive change in the markets we operate," he added.
Khairussaleh noted that Maybank has been making good progress on its four M25 Sustainability commitments, having already achieved its target for its financial year ending Dec 31, 2022 (FY2022) of reducing 40 per cent of its Scope 1 and 2 emissions against its 2019 baseline.
The achievement followed the commencement of the Malaysia Renewable Energy Certificates (mRECs) in January 2022 and rollout of various energy efficiency programmes in 2022 in home markets such as Malaysia and Singapore.
The group has committed to achieving a carbon neutral position for scope 1 and 2 emissions by 2030, and net zero carbon equivalent position by 2050, he said.
According to him, Maybank is identifying similar REC or Renewable Energy Power purchase opportunities to cover its regional footprint to meet the remaining 60 per cent reduction target from its 2019 baseline.
To drive sustainable behaviour and practises among Maybank employees in reducing indirect carbon emissions under Scope 3, the group has also implemented an internal carbon pricing tracking mechanism in 2021 for business travel and has been reimbursing employees for electric vehicle-related expenses since the first quarter (Q1) of FY2022 to support the use of energy-saving vehicles, he added.
In the area of sustainable finance, Khairussaleh said Maybank has set a target of RM9 billion for FY2022, with some RM3 billion already achieved as of the first quarter including a RM300 million sustainability-linked bond for Hap Seng Management Sdn Bhd.
Under the commitment to improve the lives of one million households across ASEAN by 2025, Maybank has set a target of 150,000 households for the current financial year.
"As of Q1 FY2022, some 56 per cent or 82,000 households have been positively impacted through financial solutions offered such as low-cost housing mortgages, two-wheeler financing and microinsurance products for underserved groups," the bank said.
The group had also recorded more than 449,000 sustainability hours clocked by Maybank employees as of Q1 FY2022.
A key effort rolled out from April 2022 has been the "Green Lab" – a staff engagement and activation programme encouraging employees to adopt Maybank's sustainability agenda in their day-to-day operations and lives.
