Maybank's Group Sustainability ("GS") spearheads the development and maintenance of the Framework, with input and guidance from the business teams. A thorough review of existing transition finance taxonomies, guidelines, frameworks and white papers from the central banks, industry networks and associations, certification bodies as well as climate change think tanks and stakeholders was conducted to understand the prescribed guidance and approach taken with regards to transition finance. This then helped ensure that the Framework was aligned to market best practices and reflects industry standards.
The Framework will be reviewed and updated by GS on an annual basis, and subsequently approved by the Group's EXCO Sustainability Committee ("ESC"). The various lines of business, supported by GS, bear the responsibility of ensuring that all transition finance transactions conform to the latest version of the Framework which then feeds into the public disclosure of our broader sustainable finance numbers. An independent external assurance provider will also be commissioned to assess all transition finance labelled financing against this Framework.