GE15 NEWS   Kudat Independent MP backs unity government | Hamas leader congratulates Anwar on appointment as PM | GRS will abide by Agong 's decision on formation of unity govt - Hajiji | Zahid, Wan Azizah, Loke win while Saifuddin, Rezal Merican lose | 
BUSINESS

RHB sets up sustainability committee for ESG

29/09/2022 01:19 PM

KUALA LUMPUR, Sept 29 (Bernama) -- RHB Banking Group (RHB) has announced the establishment of its board sustainability committee (BSC) to assist the board of directors in driving the group’s sustainability and climate-related agenda and providing oversight for Environment, Social and Governance (ESG) matters. 

Previously, the board of directors of the group had direct oversight of sustainability matters.

In a statement today, the bank said with the launch of RHB’s five-year (2022-2026) sustainability strategy and roadmap, a decision was made to set up the BSC to enable greater focus and in-depth discussions at the highest level on material sustainability and climate-related matters.

The BSC is chaired by Datuk Iain John Lo and its members comprise Tan Sri Rebecca Fatima Sta Maria, Datuk Mohamad Nasir Ab Latif, and Donald Joshua Jaganathan who all have extensive leadership experience and a strong understanding of sustainability matters.

“The BSC will play a crucial role in providing strategic oversight of the group’s sustainability and climate-related strategies and actions towards ensuring that we continue to strike the right balance across the triple bottom line of planet, people and profits,” said Iain.

The bank intends to mobilise RM20 billion in sustainable financial services by 2026 which is equivalent to approximately 7 per cent of the group’s total assets as of December 2021.

As of June 2022, cumulative achievements stood at more than RM 11 billion.

Effective January 2022, RHB said it no longer pursues opportunities or provides financing facilities for any new thermal coal mine projects and coal-fired power plant projects. 

The bank has also adopted a stance on no deforestation, no peat and no exploitation (NDPE) for the palm oil, forestry, and agriculture sectors and will only support responsible companies that demonstrate alignment with its NDPE stance.

-- BERNAMA


Bernama provides the latest authentic and comprehensive news and information to media agencies and the public. The news and information is disseminated via the website www.bernama.com; BERNAMA TV broadcasts on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels as well as BERNAMA Radio on the FM93.9 frequency in the Klang Valley, FM107.5 in Johor, FM107.9 in Kota Kinabalu and FM100.9 in Kuching.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy