Kuala Lumpur – RHB Banking Group has announced the establishment of its Board Sustainability Committee whose primary role is to assist the Board of Directors in driving the Group’s sustainability and climate-related agenda and providing oversight of material Environment, Social and Governance matters across the Group’s business strategies, operations and decision-making process.
Previously, the Board of Directors of the Group had direct oversight of sustainability matters. With the launch of RHB’s 5-Year (2022-2026) Sustainability Strategy and Roadmap, a decision was made by the Group to set up a BSC to enable greater focus and in-depth discussions at the highest level on material sustainability and climate related matters that have been identified within the Group.
This Board Sustainability Committee is chaired by Datuk Iain John Lo and its members comprises Tan Sri Dr Rebecca Fatima Sta Maria, Dato’ Mohamad Nasir Ab Latif, and Mr Donald Joshua Jaganathan. All members have extensive leadership experience and a strong understanding of sustainability matters.
Financial institutions play a unique role in supporting the country’s transition to a more sustainable future. Since 2018, RHB has been actively integrating sustainability and climate considerations into its business and decision-making process. The Group is now in the next phase of its sustainability journey.
The 5-Year (2022 – 2026) Sustainability Strategy and Roadmap, which cuts across three key pillars, namely Sustainable & Responsible Financial Services, Embedding Good Practices and Enriching & Empowering Communities, will guide the Group towards achieving its 2026 aspirations.
These aspirations include the Group’s intent to mobilize RM20 billion in sustainable financial services by 2026. This is equivalent to approximately 7% of the Group’s Total Assets as at December 2021. As at June 2022, the Group’s cumulative achievements stood at more than RM 11 billion in sustainable financial services.
As a financial services group, RHB has a role to play in promoting sustainable and inclusive growth, and in doing so, it aims to empower 2 million people across ASEAN by 2026. This includes offering basic banking services as well as conducting financial literacy programmes to the youth or young adults and the vulnerable segments.
“The BSC will play a crucial role in providing strategic oversight of the Group’s sustainability and climate-related strategies and actions towards ensuring that we continue to strike the right balance across the triple bottom line of planet, people and profits,” says Datuk Iain, Chairman of the RHB Board Sustainability Committee.