AFFIN BANK BERHAD

Malaysia | 5185.KL | Main

By Sustify.world AI model | 2025-05-25
AFFIN Bank Berhad, a financial holding company, provides various banking services in Malaysia. It operates through Commercial Banking, Investment Banking, Insurance, and Others segments. The Commercial Banking segment offers savings and fixed deposits, remittance services, current accounts, vehicle loans/financing, hire purchase, housing loans/financing, overdrafts/cashlines and personal loans/financing, credit cards, unit trusts, and bancassurance/bancatakaful products; financial products and services for corporates, public sector, and small and medium enterprises, including long-term loans/financing, project and equipment financing, overdrafts and trade financing, and other fee-based services, as well as Islamic banking services. The Investment Banking segment offers advisory services and structuring of private debt securities; corporate finance and advisory services for corporate listings; mergers and acquisitions services; capital raising services through the issue of equity and debt instruments; and corporate and debt restructuring exercises. This segment also provides structured lending solutions for corporate finance and capital market activities, as well as access to various funds and capital market investment products to corporate, institutional, and individual investors; stock-broking services, including institutional and retail stock-broking services for securities listed on local and foreign stock exchanges; and investment management and research services. The Insurance segment underwrites various classes of general and life insurance. The Others segment offers money-broking and other related financial services. It also provides property management, share nominee, trustee, and information technology services. AFFIN Bank Berhad was incorporated in 1975 and is headquartered in Kuala Lumpur, Malaysia.

Reference

Report Year: 2024
Source Files:

Sustainability Committee

Group Board Sustainability Committee (Members: Unknown) 🟢

  • Strategic oversight 🟢
  • Bi-monthly meetings 🟢

Reporting

GRI 🟢, TCFD 🟢, Integrated Report 🟢

GHG Accounting

AFFIN Bank Berhad demonstrates a promising start in GHG accounting with an 8% reduction in Scope 1 and 2 emissions in 2023 compared to the 2022 baseline, aligning with their target of a 30% reduction by 2030 and Net Zero by 2050. The focus on operational emissions is a strength, supported by energy-efficient infrastructure like Menara AFFIN in TRX. However, Scope 3 emissions remain unreported, limiting the comprehensiveness of their inventory. The lack of third-party verification and unspecified standards (e.g., GHG Protocol) are notable gaps. AFFIN should prioritize Scope 3 disclosure, adopt recognized standards, and seek external assurance to enhance credibility and transparency in their climate efforts.

Emissions

Scope Value Note

Other Details

  • Base year: 2022
  • Boundary inventory: Operational emissions (Scope 1 & 2)
  • Gwp basis: Not specified
  • Standard: Not specified
  • Data collection approach: Internal data tracking for energy and emissions
  • Third party verification: Not verified ⚠️
  • Carbon intensity: Not reported ⚠️

Efforts

  • 8% reduction 🟢
  • 19% paper reduction 🟢
  • Solar panels at 12 branches 🌞
  • Green building relocation 🌱

Social Highlights

  • 84,500 beneficiaries 🥗
  • 5,298 employees trained 🟢
  • 319,036 training hours 🟢
  • RM54.6M SME financing 🥗
  • Limited data available ⚠️

Governance

  • Salary disclosure: Can't find ⚠️
  • Litigation: Can't find ⚠️

Report Quality

Commendable Foundation in AFFIN Bank Berhad’s 2023 sustainability report, with clear strengths in quantifiable actions like an 8% reduction in operational emissions and a 19% decrease in paper usage 🟢. The integration of GRI and TCFD frameworks and the establishment of the Group Board Sustainability Committee are positive steps. However, the report lacks depth in certain areas, such as third-party verification for GHG data and disclosure of Scope 3 emissions ⚠️. Forward-looking commitments, like achieving Net Zero by 2050 and 25% sustainable financing by 2028, are ambitious but need more detailed interim milestones. Generic statements on 'responsible banking' could be supported by more measurable outcomes. AFFIN could enhance credibility by incorporating external assurance, expanding Scope 3 reporting, and providing granular progress updates on targets. Overall, the report provides a solid base but has room for greater transparency and specificity.

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This is AI model generated summary based on certain rules set by Sustify.world perspective. If the reader finds the information is incorrect, they can always approach us by sending email admin@sustify.world.

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