HSBC Amanah Malaysia Berhad has marked another milestone in Malaysia by becoming an official member of the United Nations Global Compact (UNGC) via its local chapter, the Global Compact Malaysia (GCMY).
The bank is also the first international bank in the country to become a member of GCMY.
“We are proud to have been invited to become a member of UNGC. This invitation and our membership to UNGC through GCMY is an important part of our sustainability journey,” said Oz Ahmed, chief executive officer, HSBC Amanah.
“Our UNGC membership also goes hand in hand with Bank Negara Malaysia’s Value-
Based Intermediation (VBI) initiative which aims to have Islamic financial institutions create greater value and impact by focusing on the Triple Bottom Line which takes into
consideration Prosperity, People and Planet instead of traditional bottom lines,” he added.
The UNGC is a leadership platform for the development, implementation and disclosure of responsible corporate practices and is the largest corporate sustainability initiative in the world, with more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Network.
This initiative serves as a call to companies to align their operations and strategies with the UNGC 10 principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals (SDGs).
The HSBC Group has submitted the Group’s annual ESG report to fulfil the COP requirement that details members’ efforts to implement the UNGC 10 principle.