KUALA LUMPUR: HSBC Amanah Malaysia Bhd (HSBC Amanah) has issued its second Task Force on Climate-related Financial Disclosures (TCFD) report as part of its initiatives and approach toward analysing the climate-related risk of its business and operations.
Chief executive officer Raja Amir Raja Azwa said climate change presents both risks and opportunities for businesses and individuals, and with increased awareness of climate change, the transparency and disclosure of its related risks is a key step towards addressing climate data gaps.
"In our second voluntary TCFD report, we have disclosed the progress made and highlighted the
initiatives and approach that we will be taking especially in understanding and analysing the climate-related risk of our business and operations.
"We will also take a phased approach to fully align with the TCFD recommendations in several areas such as our financed emissions, our climate risk management capabilities and our decarbonisation strategy,” he said in a statement today.,
HSBC Amanah’s climate-related strategies are part of a broader commitment to sustainability that is aligned with HSBC Group’s ambition to become a net zero bank.
Raja Amir also said that the bank recognises the drastic needs and lasting action to protect the
communities, businesses and natural environment from the damaging effects of climate change.
"Our ability to steer finance for the transformation of businesses and infrastructure will be key in helping to enable the transition to a net zero global economy,” he said.
Globally, HSBC Group is intensifying its support for customers in their transition to net zero.
HSBC Group’s target by 2030 is to provide between US$750 billion (US$1=RM4.45) and US$1 trillion of finance and investment towards the transition. - Bernama