By Sim YH
BANDAR SERI BEGAWAN, 30 OCT – Bank Islam Brunei Darussalam (BIBD) announced that the bank has become a member of the United Nations Global Compact (UNGC) Initiative which is a voluntary initiative for the development, implementation and disclosure of responsible business practices.
In a statement issued by BIBD, here, states that with the membership, BIBD leads Brunei’s financial sector and the local private sector in setting standards for sustainability which is a key differentiator in the banking industry and in the private sector.
By joining the UNGC, BIBD aligns itself with more than 20 thousand other companies globally who are committed to taking responsible business actions to generate a better world.
The UNGC calls on companies to integrate the Ten Universal Principles related to human rights, labor, the environment and anti-corruption into their strategies in support of the Sustainable Development Goals (SDGs).
Present to present BIBD membership was the Executive Director, UN Global Compact Network Malaysia & Brunei (UNGCMYB), Mr. Faroze Nadar. Also present was Head of Member Relations, UNGCMYB, Tan Zhi Ying.
While present to receive membership on behalf of BIBD was the Managing Director and Chief Executive Officer of BIBD, Awang Junaidi bin Haji Masri.
Also present to witness the achievement was the Head of the Brunei Climate Change Office, Awang Ahmad Zaiemaddin Pehin Halbi as well as BIBD’s senior management.
BIBD’s membership in the initiative reinforces its ongoing sustainability efforts, adhering to the Roadmap and Sustainability Framework launched in 2021. The comprehensive roadmap outlines BIBD’s long-term vision to foster economic growth in Brunei while promoting social and environmental responsibility.
As part of that commitment, BIBD has pledged $2 billion in funding by 2030 to support sustainability-related projects.
Awang Junaidi when commenting on the significant achievement, stated that by joining the UN Global Compact, BIBD will have access to various learning opportunities and resources that help better support the goals of UNSDG 2030 and Net Zero 2050 Brunei.
The milestone, he added, further strengthened their dedication in driving positive change not only for their institution but also for the wider Brunei community.
He stated that BIBD will continue to bring the agenda to the masses ensuring the inclusive approach continues, leaving no one behind.
BIBD’s sustainability agenda is in line with Brunei Darussalam’s National Climate Change Policy and supports the country’s commitment towards the UN SDGs, making the bank a key player in global and local sustainability efforts. Through the bank’s strategic initiatives, BIBD intends to contribute significantly to Brunei’s transition towards a low-carbon economy while also addressing global environmental challenges.
