Bank Islam Brunei Darussalam (BIBD) hosted its inaugural CEO’s Sustainability Forum on Wednesday at Setia Point, exploring how Brunei can integrate sustainability into business strategies and operations.
The forum, held in collaboration with the UN Global Compact Network Malaysia and Brunei (UNGCMYB), marked a significant step in fostering dialogue among policymakers, business leaders, and key stakeholders on sustainability practices tailored to Brunei’s unique needs and challenges.
The guest of honour, Minister of Home Affairs Dato Seri Setia Awang Haji Ahmaddin bin Haji Abdul Rahman, who also serves as the Chairman of BIBD and its Group of Companies, underscored the importance of sustainability for the nation’s development.
BIBD’s Managing Director and CEO, Awang Junaidi bin Haji Masri, in his opening address, reiterated the bank’s commitment to sustainability: “As the first Brunei commercial entity to be a member of the UN Global Compact, BIBD acknowledges the immense responsibility that comes with this recognition. Sustainability is no longer a mere aspiration but a vital imperative for the long-term success of our nation and its businesses.”
He added, “This forum will serve as a catalyst for impactful discussions, enabling us to collectively address challenges and seize opportunities on our sustainability journey. We invite all interested parties to join us in shaping a more sustainable future for Brunei.”
The forum featured a fireside chat and panel discussion, including insights from Head of the Brunei Climate Change Office Ahmad Zaiemaddien bin Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Haji Awang Halbi, Executive Director of UNGCMYB Faroze Nadar, and Managing Director of KDEB Waste Management Dato Hj Ramli Mohd Tahir. Panelists shared their experiences in advancing sustainability within their sectors.
BIBD joined the United Nations Global Compact (UNGC) in October 2024, aligning itself with over 20,000 companies worldwide committed to integrating Ten Universal Principles covering human rights, labour, the environment, and anti-corruption into business strategies.
The bank’s sustainability efforts are guided by its 2021 Sustainability Framework and Roadmap, rooted in Maqasid Shariah, a set of Islamic principles prioritising religion, life, intellect, lineage, and property. BIBD’s alignment with the UN Sustainable Development Goals (SDGs) and Brunei Vision 2035 reflects its dedication to fostering economic growth while addressing environmental and social challenges.
BIBD has pledged to invest BND2 billion by 2030 in sustainability-related projects, aiming to address local and global environmental and social issues. The bank also collaborates with the Brunei National Climate Change Council (BNCCC) to advance climate resilience initiatives and promote a low-carbon economy.
Through its initiatives, BIBD encourages local businesses to adopt greener practices, fostering an inclusive and resilient financial landscape.
As a UNGC member, BIBD will report its sustainability achievements annually through the Communication on Progress (COP), ensuring transparency and accountability. The forum highlighted the bank’s leadership in driving sustainability and its role in creating a more sustainable future for Brunei and beyond. – Fadhil Yunus
