KUALA LUMPUR, 10/6/2021 – HSBC Amanah Malaysia Berhad (HSBC Amanah) has today announced the publishing of its Task Force on Climate-related Financial Disclosures (TCFD) report – the first of its kind amongst banks in Malaysia.
Published in April 2021, the report is key to HSBC Amanah’s ambition to become HSBC Group’s first sustainable banking entity by end-2022.It also supports Bank Negara Malaysia’s efforts to strengthen the financial industry’s capacity in managing climate-related risks.
Developed by the Financial Stability Board (FSB) in response to the Paris Agreement, TCFD is an internationally recognised disclosure framework established to enhance climate-related financial reporting by encouraging consistent, reliable and transparent measurement and reporting of climate-related financial risks. TCFDs are important for a company’s sustainability strategy and resiliency and will further build trust between investors and customers. In addition, implementing TCFDs could provide companies with better access to capital by increasing investors’ and lenders’ confidence that the company’s climate-related risks are appropriately assessed and managed.