Hong Leong Bank Promotes Greening Supply Chains at Its 11th Sustainability Roundtable
Hong Leong Bank Promotes Greening Supply Chains at Its 11th Sustainability Roundtable
(Front Row L-R) Yow Kuan Tuck, Managing Director of Business and Corporate Banking, HLB; Kevin Lam, Group Managing Director and CEO, HLB; Dato' Sri Tai Hean Leng, Executive Vice Chairman, Masteel; Prof Dr Ong Kian Ming, Pro Vice Chancellor for External Engagement, Taylor University
(Back Row L-R) Richard Baker, Director of Carbon Border Adjustment Mechanism, PwC; Syed Kamal Muzaffa, Director of Sustainability Division, MIDA; Dafinah Ahmed Hilmi, CEO of Hong Leong Islamic Bank; Wong Chiun Chiek, Director, Bursa Intelligence; Chow Sheng Wai, Chief Sustainability Officer, HLB; Justin Soong, Chief Risk Officer, HLB
KUALA LUMPUR, 26 JULY 2024 – Hong Leong Bank ("HLB" or "the Bank") convened its 11th Sustainability Roundtable today in partnership with Malaysia Steel Works (KL) Bhd ("MASTEEL"), PricewaterhouseCoopers (“PwC”), the Malaysian Investment Development Agency (“MIDA”), Asian School of Business, Bursa Intelligence, and Taylor’s University to discuss challenges and opportunities in transitioning towards a low-carbon, resource-efficient economy together. The Roundtable, themed "Greening the Supply Chain: The Malaysian Corporate Sector and the Global Sustainability Revolution: A Win-Win Convergence," addressed the critical issue of greening supply chains in the Malaysian corporate sector.
The Roundtable featured a panel of esteemed speakers to share their insights, which included Executive Vice Chairman of MASTEEL, Dato’ Sri Tai Hean Leng; Richard Baker, PwC Director of Sustainability & Climate Change; Prof. Dr. Ong Kian Ming, Pro Vice Chancellor for External Engagement, Taylor’s University; Mr. Syed Kamal Muzaffa, Director of Sustainability Division at MIDA; Dr. Renato Lima de Oliveira, Associate Professor at Asian School of Business & Senior Fellow at IDEAS, and Wong Chiun Chiek, Director at Bursa Intelligence.
In his opening address, Kevin Lam, Group Managing Director and CEO of HLB emphasised the urgency of greening supply chains, stating, "The Bank is cognisant that sustainability is not just a buzzword, but a business reality. We understand that the financial sector has a crucial role to play in driving the transition towards a low-carbon, resource-efficient economy. The Bank is committed to being a catalyst for change, empowering our clients and partners to embrace sustainable practices and reap the rewards of a greener future.
Beyond providing customised financial solutions and industry best practices to guide our clients toward sustainable transformation, we believe that in-person engagements and networking events like this offer valuable insights into sustainability opportunities. This fosters long-term competitive advantages and contributes to the betterment of society and the environment.”
HLB remains a constituent of the FTSE4Good Bursa Malaysia Index, with this year being its seventh consecutive year in the ESG index. The Bank has been given a 4 Star rating in the Index, having maintained a rating of 3.9 in FY23/24 which is above the banking sector average rating of 3.1, proving its continued success and achievements in sustainability integration.
This year’s Sustainability Roundtable featured MASTEEL coming in as a partner, who have themselves recently been given a 4 Star rating in the FTSE4Good Bursa Malaysia Index, landing it amongst the Top 25% among all public-listed companies.
MASTEEL’s Executive Vice Chairman, Dato’ Sri Tai Hean Leng, shared his insights into the company's journey towards sustainable steel production.
"As a leader in sustainable steel production, MASTEEL is honoured to collaborate with HLB in this important Sustainability Roundtable. Our commitment to environmental responsibility underscores the importance of collaborative efforts in spearheading the green revolution. This event serves as a platform for cultivating meaningful dialogues and insights that will pave the way for a more sustainable future, not only for Malaysia but also for the global community."
Hong Leong Bank has successfully organised 11 Sustainability Roundtables since 2021, bringing together business leaders, industry experts and ESG pioneers to share knowledge and insights on ESG integration. With an increased global interest on reducing Scope 3 financed emissions, greening supply chains represents a win-win convergence of environmental stewardship and economic prosperity. Through collaborative discussions like this year’s Roundtable, businesses can not only mitigate risks and reduce costs but also enhance competitiveness, tap into new markets, and build a stronger, more resilient economy.