AMMB HOLDINGS BERHAD
Malaysia | 1015.KL | Main
Reference
Report Year: 2024
Source Files: AMMB_Integrated_Annual_Report_2024_(Part_1).md, AMMB_Integrated_Annual_Report_2024_(Part_2).md, AMMB_Sustainability_Report_2024.md
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- 8 Board meetings 🟢
- 4 RMC meetings 🟢
Reporting
GRI, TCFD, Separate Report 🟢
GHG Accounting
AMMB Holdings Berhad demonstrates a structured approach to GHG accounting with reported Scope 1 (65 tCO₂e), Scope 2 (17,368 tCO₂e), and Scope 3 (1,231 tCO₂e) emissions for FY2024. A 36% reduction against the 2019 baseline for Scope 1 and 2 is commendable, supported by energy efficiency initiatives. However, the absence of detailed GWP basis and standard (e.g., GHG Protocol) limits transparency. Third-party verification by SIRIM QAS enhances credibility for selected data, but full verification is needed. Scope 3 reporting, while initiated, lacks comprehensive coverage of financed emissions, which is critical for a financial institution. Improvements could include adopting a recognized standard and expanding Scope 3 inventory to fully capture portfolio impacts.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 65 tCO₂e 🟢 | |
| Scope2 | 17,368 tCO₂e 🟢 | |
| Scope3 | 1,231 tCO₂e 🟢 | |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: 2019
- Boundary inventory: Operational control for Scope 1 and 2; employee travel and waste for Scope 3
- Gwp basis: Not specified
- Standard: Not specified
- Data collection approach: Internal tracking and licensed climate assessment tools
- Third party verification: Partial (SIRIM QAS International for selected disclosures)
- Carbon intensity: 4.1 tCO₂e/RM mil, partially verified 🟢
Efforts
- 36% reduction 🟢
- 16,360 kg waste diverted 🟢
- Renewable energy adoption 🌞
- Energy-efficient systems 🌱
Social Highlights
- 24,913 homes supported 🟢
- 17,229 beneficiaries aided 🟢
- 200 MSMEs trained 🟢
- 104 training hours/employee 🟢
- 168 microentrepreneurs supported 🟢
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: Can’t find ⚠️
Report Quality
Commendable effort by AMMB Holdings Berhad in their FY2024 Sustainability Report 🟢. The report provides a solid foundation with quantifiable metrics like a 36% GHG emission reduction against the 2019 baseline and RM3.022 billion in green financing. Measurable outcomes such as third-party verification by SIRIM QAS for selected disclosures enhance credibility. Forward-looking commitments, including a Net Zero target by 2050 and a transition plan for hard-to-abate sectors, are promising. However, gaps remain with limited transparency on GHG accounting standards and incomplete Scope 3 data, particularly for financed emissions ⚠️. Generic statements on sustainability commitment occasionally lack supporting evidence. To improve, AMMB could incorporate full third-party verification, adopt a clear GHG reporting standard, and expand Scope 3 reporting to reflect portfolio impacts. Overall, the report is comprehensive but would benefit from deeper specificity and broader data validation.
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