KUALA LUMPUR: MBSB Bank Bhd is now a member of the Malaysian chapter of the United Nations (UN) Global Compact Network Malaysia and Brunei (UNGCMYB).

       Acting chief executive officer Datuk Nor Azam M Taib said in a statement that membership is significant as the bank is committed towards responsible investment strategies that are aligned with UN Sustainable Development Goals.

       He said the move is also in line with Bank Negara’s support of climate change mitigation and adaptation efforts.

       By being a member, the bank could expand its sustainability network with over 100 other Malaysian companies which are already members. He said MBSB Bank has been actively offering financing for the green economy such as solar financing and renewable energy. Its head office building is a certified green building, with Leadership in Energy and Environmental Design ratings, he said.

       According to the statement, the certificate of membership was signed between MBSB Bank’s chief people officer Farid Basir and UNGCMYB executive director Feroze Nadar yesterday.

       The bank also launched the Sustainable@Workplace initiative to educate employees on sustainable lifestyle choices and to encourage them to participate in environmental and community activities.

       Meanwhile, Feroz said UNGCMYB welcomes the bank as part of the United Nations Global Compact global network joining 13,000 other businesses committed to its principles.

       “Financial institutions, as key corporate sustainability actors, have the power to influence the broader private sector to transition towards achieving a sustainable world.

       “I look forward to upcoming sustainability initiatives by MBSB Bank as leaders in the sustainable finance space,” he said. — Bernama