Purpose
Sustainability at the Heart of our Strategy and Long-term Vision
Our Strategy and Long-term Vision are Underpinned by our Sustainability Agenda
At AmBank, our strategy and long-term vision are underpinned by our commitment to contribute to the greater good of our people and planet through accountable banking and business practices. This commitment is reflected in our Group Sustainability Agenda, where we actively consider environmental, social and governance (ESG) risks and impacts to create shared prosperity for current and future generations, without compromising our financial objectives.
Our ESG Footprint
We recognise that our ESG footprint includes the indirect effects arising from our business activities and portfolio, and this necessitates the integration of responsible practices into a sustainable business model.
Integrating ESG Considerations Into our Business
The Group’s capacity to address ESG risks and opportunities is key to our sustained growth and continued relevance. We firmly believe that sustainability is not just an extension of our business activities and portfolio, it is an essential component of AmBank Group’s Focus 8 Strategy (FY2021- FY2024), which specifies ‘Integrating ESG Considerations into Our Business’ as a key focus area.
ALIGNMENT TO United Nation Sustainable Development Goals (UN SDGs)
As part of the banking ecosystem, we are conscious of the critical role we play to meet the ambitious targets of the UN SDGs
To optimise our contributions towards the UN SDGs, we prioritise the goals that are directly or indirectly impacted by our business and activities. We assessed each of the 17 SDGs and their corresponding indicators to determine how our business can help achieve these goals.
As a result, we have ascertained that our Group Sustainability Agenda would contribute towards 10 UN SDGs which are directly or indirectly impacted by our business and activities.
Environmental and Social Risks Associated With Climate Change and Environmental Degradation
The long-term well-being of stakeholders, communities and our business are intrinsically linked to the health of the environment. We acknowledge that climate change and environmental degradation give rise to societal and economic risks.
Mitigating Environmental and Social Risks
To facilitate mitigating climate change and environment degradation, we have identified the following Sustainability Matters as paramount:
- Mitigating ESG & Climate Related Risks
- Responsible Consumption
Stakeholder Engagement on ESG Issues
AmBank Group’s sustainability agenda considers balancing our diverse stakeholders’ near and long-term interests. We take into account the feedback we receive from various stakeholders, including civil society and NGOs to better serve their needs. By establishing meaningful and relevant stakeholder relationships, we create value for the Group and our stakeholders, thus enabling a more sustainable future for everyone.
Engagement with Regulators
We actively participate and is a strong supporter in the financial industry sustainability journey.
Participation in Sustainable Finance Initiatives
We are in the midst of evaluating the appropriate science-based targets and climate change disclosures, including based on Science Based Targets initiative and TCFD recommendations.