Maybank Introduces Sustainable Product Framework To Drive Sustainable Finance

(Picture: Bernama)

Maybank has launched a self-developed Sustainable Product Framework (SPF) to pave the best manner for the rollout of improved inexperienced, social, and sustainable merchandise. It’s the main of such framework to be designed by a neighborhood financial institution, and will take have an effect on instantly.

Chairman of Maybank, Tan Sri Zamzamzairani Mohd Isa outlined that the SPF is meant as a blueprint to information the financial institution’s enterprise groups in creating sustainable merchandise. It ought to assist them to have a look on the meant use of the proceeds from the merchandise or selections outfitted, and in addition to resolve whether or not or not or not the product meets the group’s sustainable requirements by way of its life cycle.

Tan Sri Zamzamzairani further outlined that the framework will most likely be utilized all by way of the group’s Islamic and standard merchandise – for all retail, non-retail, and large agency prospects. These embrace related selections outfitted beneath agency lending, debt and fairness capital markets, commerce financing, retail financing, insurance coverage protection safety, asset and wealth administration, derivatives, and deposits.

(Picture: The Edge Markets)

“We wish to assist them [our clients] by way of this long-term journey and for that, we not solely should be clear ourselves on what’s outlined as sustainable finance, nevertheless furthermore know easy methods to work with our prospects to offer them devoted sustainable, sustainably-linked, or transitionary selections based totally completely on their wants,” stated Tan Sri Zamzamzairani, along with that quite a few Maybank’s prospects are at utterly utterly totally different ranges of the sustainability journey.

Aside from introducing the SPF, Maybank had furthermore highlighted its dedication to long-term sustainable financing as soon as extra in 2021 by pledging to provide RM50 billion in sustainable financing by 2025. As of the primary half of 2022 (1H22), the financial institution has almost hit the midway mark of its RM50 billion function.

(mage: New Straits Conditions/Nur Adibah Ahmad Izam)

“Given our essential momentum in mobilising sustainable finance selections over the one-and-a-half years coupled with the roll-out of the SPF, we’ll further consider {{our capability}} to do extra sustainable financing all through the fast future,” stated Tan Sri Zamzamzairani.

Lastly, Maybank targets to contribute to the achievement of the Paris Settlement targets and United Nations’ Sustainable Improvement targets – each of which search to strengthen the worldwide response to the specter of native local weather change.

(Sources: Maybank [1, 2], The Edge Markets)

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