Net Zero Transition Plan
Position Statement on Iron & Steel Manufacturing
The Iron and steel industry is a key enabler of industrial growth, supplying essential material for infrastructure, construction and manufacturing. Its rapid expansion in Malaysia has made the sector the fastest growing source of GHG emissions within Malaysia’s Industrial Processes and Product Used (IPPU) category since 2014. The International Energy Agency (IEA) identified this industry as one of the most challenging sectors to decarbonise due to its energy-intensive processes.
Given its carbon intensity, the Group believes a transition to more sustainable practices is critical for long-term resilience. In view of this, AmBank Group is committed to continue to support customers as they embrace sustainable technologies and commit to credible decarbonisation strategies. Additionally, the Group will encourage customers to develop and implement comprehensive transition plans and set net zero targets with clear, time-bound milestones.
Our Sectoral Pathway and Target
