top of page

PNB Pledges RM10B In Green, Transition Assets Under Its New Sustainability Framework


Photo Credit: Ahmad Zulqarnain Onn, President & Group Chief Executive / PNB

One of Malaysia’s largest fund managers, Permodalan Nasional Bhd (PNB) has announced the launch of its Sustainability Framework, an initiative that will see PNB invest RM10 billion in new green and transition assets by 2030 as as part of its commitment to achieve a Net Zero Enterprise by 2025 and Net Zero Portfolio by 2050.


Commenting on this, President & Group Chief Executive, Ahmad Zulqarnain Onn said, “At PNB, we will work hand-in-hand with our investee companies to develop value creation plans that will ensure sustainable growth of their operational and financial performance.”


“There is tremendous pressure nowadays for companies to not just perform financially, but also to integrate ESG aspects into their business. We believe that, through our collective effort, this new way of doing business will create meaningful benefits for PNB, our investee companies, partners as well as other stakeholders, and ultimately the millions of Malaysians who have entrusted their investments with us.”


PNB has identified 10 commitments under the following three ESG pillar.


Other than the Environmental pillar, PNB aims to address issues on equity and inclusion including further strengthening the 2020-launced Stewardship Framework that ensures all PNB employees earn above the living wage by 2023 and setting a target of 40% female participation in senior management level by 2025. The company also committed to balancing PNB’s profits with social investments to align with its mission of enhancing wealth for Bumiputeras and all Malaysians.


The next pillar focuses on the company being more strategically transparent and active at engaging ESG-related and climate change issues by establishing a Triple Bottom Line Stewardship Model, to drive greater transparency in voting and to ensure the reporting disclosures are aligned with the Task Force on Climate Related Financial Disclosures (TCFDs).


“As one of the country’s largest fund management institutions with approximately 10% invested in domestic companies listed on the local bourse, PNB has a responsibility to navigate the complexities of the ESG journey,” said PNB’s chairman Tun Arifin Zakaria.


“We believe that more can be achieved collectively and PNB will play a more active role in advancing knowledge and a deeper understanding of ESG, as well as its application and best practices for sustainability.”

Comments


Commenting has been turned off.
bottom of page