Bank Islam Brunei Darussalam’s (BIBD) involvement in the ‘Race to Zero’ reflects the bank’s commitment to be at the forefront of sustainable practices and to contribute to the government’s efforts in addressing climate change, said BIBD’s Chief Marketing Officer Hajah Nurul Akmar binti Haji Mohd Jaafar.
BIBD was a key partner of the recent Sustainable Economy Forum 2023, an integral part of the Brunei Economy Programme hosted by the ASEAN and APEC Business Advisory Council of Brunei in collaboration with the Ministry of Finance and Economy.
Hajah Nurul Akmar contributed insights to a panel discussion exploring the integral role of businesses in achieving the Sustainable Development Goals (SDGs) and delved into the diverse ways businesses can contribute to sustainable development, with a specific focus on the implementation of SDGs.
She emphasised the bank’s alignment with the government’s vision, saying, “BIBD recognises the importance of collaboration between the private sector and the government in driving sustainable development. Our initiatives and partnerships are strategically designed to complement national goals and contribute meaningfully to the realisation of Brunei Vision 2035 and the United Nations (UN) SDGs.”
The BIBD Group’s Sustainability Framework, officially announced in 2021, serves as a cornerstone of the bank’s efforts toward sustainability, with a target commitment of BND2 billion toward sustainability funding by 2030.
Hajah Nurul Akmar concluded, “As a responsible corporate citizen, BIBD remains steadfast in championing the importance of partnerships and collective action.
“By working hand in hand with the government and various stakeholders, we aim to make substantial contributions towards realising the SDGs, ensuring a sustainable and prosperous future for Brunei.”
In 2022, BIBD became the first private organisation to partner with the Brunei Darussalam National Council on Climate Change in the Race to Zero.
BIBD’s flagship programmes, such as BIBD ALAF and BIBD SEED, focus on human capital development to empower underprivileged individuals towards self-sustainability. Through collaborations like SME360, BIBD engages with multiple stakeholders, employing a whole-of-nation approach to address critical national issues, including zero waste and climate change.
BIBD’s dedication to environmental, social, and corporate governance (ESG) practices is exemplified by the launch of its first ESG fund through BIBD Securities.
The innovative fund fosters partnerships with environmental-focused non-governmental organisations to drive climate-related activities.
Further solidifying its commitment, BIBD Asset Management achieved a significant milestone by becoming the first financial institution in Brunei to be recognised as a signatory to the UN Principles of Responsible Investing (UN PRI), which calls for the incorporation of ESG factors in investment decision-making.
