Maybank has been awarded an ‘AA’ rating by MSCI ESG Ratings for the second consecutive year, placing it in the top 36% of the 189 highest rated diversified banks globally based on the MSCI All Country World Index.
In a statement, the group said the rating was based on an assessment of Maybank’s sustainability policies and practices covering seven broad areas, namely environmental impact finance, consumer financial protection, capital development human resources, access to finance, data privacy and security, corporate governance and behavior.
He added that the ‘AA’ score stemmed from Maybank’s strong consumer protection practices, including the establishment of a complaints hotline and loan modification options for customers in difficulty. financial.
In addition, the efficiency of the group’s customer complaint handling mechanism ranks among the best among industry peers, consolidating its customer financial protection ranking ahead of even its top five global peers.
Further, he points out that exposure of Maybank’s loan portfolio to environmentally intensive industries was low compared to its peers, with only around 4.9% of Maybank’s loans being exposed to environmentally intensive industries ( agriculture, metals and mining and utilities) in May 2021.
It notes the bank’s commitment to refuse financing of blacklisted activities not aligned with its values, as well as new coal activities, while moving to a renewable energy mix with existing borrowers in the medium and long term, as well as the commitment to mobilize RM50bil in sustainable energy. funding by 2025.
Group Chairman and CEO Datuk Khairussaleh Ramli said Maybank was delighted that its sustainability efforts continue to be recognized globally, especially with this rating by MSCI ESG Ratings for the second consecutive year.
“Our sustainability commitments are part of our journey to achieve our ambition to become a regional ESG leader, and we are accelerating all efforts through our M25 plan to help drive positive change in the markets we operate. “, did he declare.
Khairussaleh added that the group is identifying similar opportunities to purchase REC or renewable energy to cover its regional footprint to meet the remaining 60% reduction target from its 2019 baseline.