Managing Sustainable and Climate Metrics We establish sustainability and climate-related metrics and targets aligned with recognised industry standards including the TCFD recommendations. This approach is grounded in our core principles of Maqasid Shariah and the VBI model, ensuring alignment with the TCFD. Proposed targets are reviewed and endorsed by relevant sustainability committees within the bank, consisting of senior management and subject matter experts, with final approval sought from the Board. Sustainability targets are integrated into our framework and cascaded across the Group, with initiatives assigned, timebound goals and monitored through relevant indicators. The sustainability-related targets are monitored on a quarterly basis to track the progress of our sustainability initiatives. Our Targets To date, we have set targets to achieve carbon neutrality by 2030 for our direct emissions (Scope 1) and indirect emissions from purchased electricity (Scope 2), covering our core banking infrastructure, branch operations, and other facilities. We are also committed to achieve Net Zero emission by 2050. In addition to these channels, our SME customers are engaged on climate risks and opportunities during their onboarding and annual reviews through the completion of a DDQ by SME relationship managers. The RAM Sarawak conference, where selected clients of GIB learned about Sarawak’s role in advancing the transition to a low-carbon economy. The Clean Power and New Energy 2024 conference, where GIB clients learned about the trends, opportunities and challenges of the low-carbon transition The Sabah ESG Initiatives Awareness Forum, where Tan Yang Pin, our SME Regional Head of Central 2 and Sabah Region, took part in a panel discussion. The FMM Sustainability Conference 2024, organised in collaboration with SFG-JC3. The International Greentech and ECO Products Exhibition and Conference Malaysia (IGEM) 2024, where we signed our Memorandum of Collaboration (MOC) with MGTC. Various townhalls and one-on-one sessions organised by the Treasury team with selected clients. Our ESG Corporate Day, which touched on sustainabilityrelated topics and thematic discussions. Presented "Building Financial Resilience - Leveraging on Vendor Financing Programme" to a leading oil and gas player. Beyond operational emissions, we also measure our Scope 3 emissions from employee commuting and business travel while refining our approach to managing our financed emissions. In this area, we have set objectives to increase our portfolio exposure to low-carbon assets, enhance client engagements on climate risks and opportunities, and drive meaningful progress toward decarbonisation. Please refer page 146-147 for the disclosed metrics. In 2025, our focus will be on conducting sectoral decarbonisation pathway analysis to strengthen our strategy and develop robust net-zero targets and metrics for our financed emissions, ensuring alignment with Malaysia’s national net-zero ambition by 2050. Collaborative Engagement In FY2024, we continued to engage collaboratively on climate-related matters via conferences, closed-door events, one-on-one meetings and more, seeking to drive awareness and action on low-carbon financing and investment. These engagements included: Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 136 Sustainability Statement
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