11 October 2024
Alliance Bank Demonstrated Sustainability Commitment At UN's Global Compact Leaders Summit In New York
Press Release
Dr. Aaron Sum, Group Chief Strategy, Marketing & Business Development Officer at Alliance Bank speaking at the UN Global Compact Leaders Summit at Javits Centre, New York.
Alliance Bank was the only Malaysian financial institution invited to attend and speak at the summit, which focused on elevating sustainability standards.
Kuala Lumpur, 11 October 2024 - Recognised for its commitment in championing ESG adoption among SMEs and businesses in Malaysia, Alliance Bank Berhad was invited to speak at the UN Global Compact (“UNGC”) Leaders Summit at Javits Centre, New York on 24 September 2024. This global summit was attended by over 1500 corporate leaders, UN officials, Government leaders, SDG stakeholders and civil society professionals from more than 85 countries, during the UN General Assembly high-level week.
Alliance Bank’s Group Chief Strategy Officer, Dr Aaron Sum spoke in a panel session on the ‘Do’s and Don’ts of Sustainability Supply Chains’ that discussed on how supply chains can remain resilient and sustainable in the face of disruptions ranging from natural disasters, conflicts, climate change and pandemics. The session also took a deep dive into cutting-edge technologies and sustainable procurement best practices to explore what's effective in building future-proof and inclusive supply chains.
Dr. Sum shared insights on how Alliance Bank continues to assist Malaysian SMEs embrace and navigate the intricate and often complex ESG landscape through its Sustainability Impact Programme that is defined by the unique 3As approach (Advocacy, Advice and Answers).
Firstly, “Advocacy” is where the Bank creates awareness, through ESG surveys and relevant thought leadership on the “why” behind ESG adoption. Secondly, “Advice” is where the Bank then offers practical consultation and diagnostic tools, such as the one jointly developed with UNGC to help SMEs craft their own sustainability roadmaps. Thirdly, “Answers”, where Alliance Bank provides relevant banking and beyond-banking solutions to support customers in their ESG adoption journey.
“In our advocacy and capacity building work that we carry out with UNGC in Malaysia (“UNGCMYB”), our key message to SMEs has been - don't see sustainability as a compliance checklist, but rather as a source of competitive advantage; better business practices that actually put you ahead of your competition. When viewed this way, Sustainability and ESG adoption can truly be a profit multiplier. Our latest research (jointly commissioned with Monash University Malaysia and UNGCMYB) among Malaysian SMEs validates this – 38% of SMEs who have embraced more sustainable practices in their business reported revenue increases of more than 50%,” Dr. Sum explained.
Through its Sustainability Impact Programme (“SIP”), Alliance Bank has approved about RM1bil in small business loans to facilitate their sustainability transition in the past 2 years.
The Bank, was also the only Malaysian financial institution to attend and speak at the summit, which aimed to raise the bar on sustainability.
For more information about Alliance Bank’ Sustainability Impact Programme, please visit https://www.alliancebank.com.my/About-Us/Sustainability/Solutions/Sustainability-Impact-Programme.
Alliance Bank’s Group Chief Strategy Officer, Dr Aaron Sum spoke in a panel session on the ‘Do’s and Don’ts of Sustainability Supply Chains’ that discussed on how supply chains can remain resilient and sustainable in the face of disruptions ranging from natural disasters, conflicts, climate change and pandemics. The session also took a deep dive into cutting-edge technologies and sustainable procurement best practices to explore what's effective in building future-proof and inclusive supply chains.
Dr. Sum shared insights on how Alliance Bank continues to assist Malaysian SMEs embrace and navigate the intricate and often complex ESG landscape through its Sustainability Impact Programme that is defined by the unique 3As approach (Advocacy, Advice and Answers).
Firstly, “Advocacy” is where the Bank creates awareness, through ESG surveys and relevant thought leadership on the “why” behind ESG adoption. Secondly, “Advice” is where the Bank then offers practical consultation and diagnostic tools, such as the one jointly developed with UNGC to help SMEs craft their own sustainability roadmaps. Thirdly, “Answers”, where Alliance Bank provides relevant banking and beyond-banking solutions to support customers in their ESG adoption journey.
“In our advocacy and capacity building work that we carry out with UNGC in Malaysia (“UNGCMYB”), our key message to SMEs has been - don't see sustainability as a compliance checklist, but rather as a source of competitive advantage; better business practices that actually put you ahead of your competition. When viewed this way, Sustainability and ESG adoption can truly be a profit multiplier. Our latest research (jointly commissioned with Monash University Malaysia and UNGCMYB) among Malaysian SMEs validates this – 38% of SMEs who have embraced more sustainable practices in their business reported revenue increases of more than 50%,” Dr. Sum explained.
Through its Sustainability Impact Programme (“SIP”), Alliance Bank has approved about RM1bil in small business loans to facilitate their sustainability transition in the past 2 years.
The Bank, was also the only Malaysian financial institution to attend and speak at the summit, which aimed to raise the bar on sustainability.
For more information about Alliance Bank’ Sustainability Impact Programme, please visit https://www.alliancebank.com.my/About-Us/Sustainability/Solutions/Sustainability-Impact-Programme.
