Sustainability governance is driven from the top, where the Board has overall accountability and responsibility for the Group's sustainability agenda. The Board has oversight and decision-making of the Group's sustainability/ ESG agenda, ensuring that sustainability is embedded in the formulation of Group-wide strategies. This includes having the responsibility to consider the strategy to build sustainability/ ESG capacity of the Group. Sustainability/ ESG issues, including climate-related matters are presented to the Board at least twice per financial year.
In FY2023, key climate-related matters were discussed at the Board and Management Committee levels, and these included BNM Climate Change and Principle-based Taxonomy (CCPT), enhancements of the Group's ESG risk grade and Climate Change Classification (CC-C) Guideline, and BNM Climate Risk Management & Scenario Analysis (CRMSA) policy document. Other sustainability-related matters discussed at the Board level included the relevant Group policies, key initiatives undertaken by the Group, and partnerships to strengthen the implementation and outcomes of the Group's initiatives.
Senior management headed by the Group CEO is responsible for the implementation of the Bank's ESG strategy and managing climate-related risks and opportunities related to the Group's activities.
The Group Sustainability Council, which comprises senior management, oversees sustainability-related strategies within AmBank Group. The Council convenes on a quarterly basis and is chaired by the Group CEO whilst the CEO of AmBank Islamic, who is also the Group Sustainability Champion, is the Alternate Chairman.
To ensure clear sustainability accountability, we have assigned sustainability-related KPIs to the Group CEO and all direct reports to the Group CEO.