KUALA LUMPUR: Alliance Bank Malaysia Bhd has won two awards at the inaugural ESG Positive Impact Awards 2022 organised by Star Media Group Bhd for ‘Innovative Partnership’ (Others Category) and ‘Relations with Local Communities’ (Social Category).
The awards recognise the bank’s ongoing efforts in helping businesses transition to more sustainable business practices and reflect Alliance Bank’s Acceler8 2027 strategy and ambition to be an ESG-focused organisation.
Group chief executive officer Kellee Kam said: “As a bank focused on helping businesses succeed, we understand that SMEs are always looking to grow and capture opportunities. We believe that incorporating ESG practices into the operations can be a true competitive differentiator for businesses.”
“Our survey report, ‘ESG Insights from Malaysian SMEs: Building A Better Future Together’ highlighted that Malaysian SMEs adopting sustainable practices in their operations performed better and delivered on their triple bottom line while also benefitting the society and the planet at the same time.
“While awareness and adoption of ESG elements are still at its nascent stage, almost 60% of non-adopters in the survey have expressed an interest in incorporating ESG practices for business benefits. In fact, about 40% of ESG adopters reported improved profits and overall cost savings, post-implementation,” he said in a statement.
The report also revealed that 78% of customers today make environmentally conscious purchase decisions and so, many businesses will need to start adopting ESG elements in their operations to remain sustainable and successful in the long run.
With the Sustainability Assistance Programme, Alliance Bank aims to help SMEs improve their competitiveness and resilience through an approach grounded in Advocacy, Advice and Answers (3A’s) enabled by like-minded partners such as Bursa Malaysia Bhd, Malaysian Green Technology and Climate Change Corporation and the UN Global Compact Network Malaysia & Brunei (UNGCMYB).
Through these strategic partnerships, the bank offers practical ESG consultations, diagnostic assessments and relevant banking and non-banking solutions to support SMEs in their ESG journey.
“In its inaugural year, the programme provided more than RM170mil in financing for businesses as well as green solutions through its partners in areas such as solar energy, energy efficiency, bio-fuels, as well as waste and water management, among others,” Alliance Bank said.
Meanwhile, the #SupportLokal platform which won in the ‘Relations with Local Communities’ category, helps small businesses to digitise their business, tap into e-commerce and obtain marketing support and visibility for their brands.