07 July 2023
Alliance Bank Clinches Two ESG Awards for Supporting Businesses’ Sustainability Transition
Press Release
Kuala Lumpur, 7 July 2023 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) has won two awards at the inaugural ESG Positive Impact Awards 2022 organised by Star Media Group 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.
The two winning initiatives were the Alliance Bank Sustainability Assistance Programme and #SupportLokal campaign which took home silver in the ‘Innovative Partnership’ and ‘Relations with Local Communities’ categories respectively.
Mr Kellee Kam, Group Chief Executive Officer of Alliance Bank 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.”
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 Berhad, 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 RM170 million 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.
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. #SupportLokal which was originally birthed to help SMEs pivot to digital channels during the height of the pandemic, has generated over 24 million digital reach for these businesses to-date. Due to the success of the #SupportLokal initiative, hundreds of B2B companies have also subscribed to the Alliance Bank BizSmart® Solution, which is a platform that helps SMEs expand their network and obtain relevant solutions at preferential rates that enables them to further grow their businesses.
Post pandemic, #SupportLokal continues its goal of raising awareness for SMEs via grassroots activation and other marketing initiatives to local communities, effectively helping them to reach a wider target audience and promote their businesses.
For more information on the Bank’s sustainability initiatives, please visit www.alliancebank.com.my/sustainability.
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The two winning initiatives were the Alliance Bank Sustainability Assistance Programme and #SupportLokal campaign which took home silver in the ‘Innovative Partnership’ and ‘Relations with Local Communities’ categories respectively.
Mr Kellee Kam, Group Chief Executive Officer of Alliance Bank 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.”
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 Berhad, 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 RM170 million 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.
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. #SupportLokal which was originally birthed to help SMEs pivot to digital channels during the height of the pandemic, has generated over 24 million digital reach for these businesses to-date. Due to the success of the #SupportLokal initiative, hundreds of B2B companies have also subscribed to the Alliance Bank BizSmart® Solution, which is a platform that helps SMEs expand their network and obtain relevant solutions at preferential rates that enables them to further grow their businesses.
Post pandemic, #SupportLokal continues its goal of raising awareness for SMEs via grassroots activation and other marketing initiatives to local communities, effectively helping them to reach a wider target audience and promote their businesses.
For more information on the Bank’s sustainability initiatives, please visit www.alliancebank.com.my/sustainability.
Team Alliance celebrating their wins at the inaugural ESG Positive Impact Awards 2022, clinching two awards for ‘Innovative Partnership’ and ‘Relations with Local Communities’.