ALLIANCE BANK ECOBIZ 4 CHALLENGES YOUTHS TO CREATE A GREENER WORLD

KUALA LUMPUR, June 2, 2022 (Bernama) -- Alliance Bank Malaysia Bhd’s fourth edition of EcoBiz Challenge has caught the interest of 500 students from 138 teams representing universities nationwide to develop solutions to the problem of waste in Malaysia.

The bank noted that the EcoBiz Challenge is a youth sustainability entrepreneurial programme for tertiary students.

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Citing a World Bank Report, the bank said that globally, humans generate over two billion tonnes of solid waste annually.

“Out of this less than 20 per cent of waste is recycled. Approximately one-third of food produced globally or about 1.3 billion tonnes are thrown away, and 14 million tonnes of plastic pollute our waters every year, making up 80 per cent of marine debris found in the world’s oceans.

“More worryingly, global waste is forecast to reach over three billion tonnes annually by 2050. If left unaddressed, this will accelerate environmental degradation and elevate greenhouse gas emissions, ultimately leading to adverse climate change impact,” the bank said in a statement.

Alliance Islamic Bank chief executive officer Rizal IL-Ehzan Fadil Azim commented that against the backdrop of these environmental issues, the bank had challenged the students to inspire Malaysians to be a zero-waste nation.

“At Alliance Bank, our purpose is to improve lives. This includes helping people address environmental and social concerns. As over a quarter of our population are youths, they are a driving force for environmental change and can help build a more environmentally-responsible future for our country,” he said.

Rizal added that ultimately the EcoBiz Challenge reflects Alliance Bank’s commitment to encourage sustainable practices and develop potentially viable ideas into social enterprises and to empower young adults to realise their ideas for a more sustainable tomorrow and create long-term value for the communities.

On the fourth edition of EcoBiz Challenge, the bank noted it is collaborating with the Malaysian Green Technology and Climate Change Corporation (MGTC) to coach and mentor shortlisted teams.

It shared that 11 teams have made it to the final stage, and are now undergoing a 20-week Jana Graduan Usahawan Hijau (JaGUH) programme.

Through the JaGUH approach, it said participants can cultivate a job creator mindset and pick up skills such as social business, green technology and innovation, and digital social commerce.

Apart from training sessions, the bank said the finalists are given the opportunity to participate in three mini challenges where they pitch their business models, funding plans, and ‘go live’ ideas to a panel of advisors comprising industry and business leaders, and sustainability mentors.

During these sessions, participants could hone their pitching skills and receive feedback on their business plans as these mini challenges serve as checkpoints for participants to prepare and strengthen their business ideas before the final pitch, the bank said.

Meanwhile, co-founder and director from Zero Waste Malaysia, Khor Sue Yee said as sustainability mentor for the EcoBiz Challenge, it has been inspiring to see the passion our youths have demonstrated in building a greener Malaysia.

“Zero Waste Malaysia had the opportunity to lead an EcoBiz training session where we talked about how to address upstream management that moves away from recycling.

“This is the essence of the EcoBiz Challenge 4, which nurtures youths to create a zero-waste mindset by considering the impact of consumption, reducing the usage of materials and reusing products,” she commented.

In the past three seasons of the EcoBiz Challenge, Alliance Bank and MGTC has reached out to over 3,600 university students nationwide and garnered nearly 600 submissions.

For more information on Alliance Bank’s EcoBiz Challenge, please visit www.alliancebank.com.my/ecobiz.

-- BERNAMA