The partnership between the Government of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam, through relevant agencies under the Brunei Darussalam National Council on Climate Change (BNCCC), and Bank Islam Brunei Darussalam (BIBD) will be a key collaborative platform to enable the advancement of key strategic projects under the Brunei National Climate Change Policy.
His Majesty has consented to the signing of a memorandum of understanding (MoU) on climate change between the Government of His Majesty and BIBD.
This was said by Minister of Development and Co-Chair of BNCCC Dato Seri Setia Ir Awang Haji Suhaimi bin Haji Gafar at a MoU signing ceremony between the BNCCC and BIBD to cooperate in climate action solutions at the PGGMB building in the capital yesterday.
Present to witness the signing was Minister at the Prime Minister’s Office and Minister of Finance and Economy II and Chairman of BIBD Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah.
Also present were Minister of Primary Resources and Tourism (BNCCC member) Dato Seri Setia Awang Haji Ali bin Apong; Minister at the Prime Minister’s Office Dato Seri Setia Haji Awang Abdul Mokti bin Haji Mohd Daud; Minister of Transport and Infocommunications (BNCCC member) Dato Seri Setia Awang Abdul Mutalib bin Pehin Orang Kaya Seri Setia Dato Paduka Haji Mohd Yusof; Deputy Minister of the Department of Energy at the Prime Minister’s Office Dato Seri Paduka Awang Haji Matsatejo bin Sokiaw; Deputy Minister of Development Dato Seri Paduka Ar Haji Marzuke bin Haji Mohsin; senior government officials; members of the BIBD Board of Directors and BIBD Shariah Advisory Body, and other corporate partners.
Signing on behalf of BIBD was its Acting Managing Director and CEO Hajah Noraini binti Haji Sulaiman, witnessed by Chief Marketing Officer Hajah Nurul Akmar binti Haji Mohd Jaafar as Lead of the BIBD Sustainability Transformation Group.
Meanwhile, the BNCCC was represented by Permanent Secretary (Planning, Land Use and Environment) at the Ministry of Development (MoD) Dr Nor Imtihan binti Haji Abdul Razak with Permanent Secretary at the Department of Energy at the Prime Minister’s Office Haji Azhar bin Haji Yahya, Chair of the Executive Committee on Climate Change, as witness.
Hajah Noraini said, “Rapid development projects and technological advancements have brought about unwanted and negative impacts on our environments, both locally and globally, and the time to take action is now.
“We need to take a holistic approach to drive the sustainability agenda and commit further to ensure actions are being made immediately to achieve the BNCCC’s goal of net zero by 2050.
“BIBD, as a corporate citizen, is honoured to answer the call, becoming the first private organisation to be an official partner for the Race to Zero, through our strong partnership and collaboration with the BNCCC through the Brunei Climate Change Secretariat (BCCS), Insya Allah.
“A pledge will be taken as our core business values that will progressively shape the business ecosystem for BIBD and its Group of Companies moving forward.”
The event highlights BIBD’s commitment to sustainability agenda as the nation’s largest Islamic financial institution, stands on its strong roots and foundation of Maqasid Syariah which is aligned with the SDG 2020 and Brunei Vision 2035 goals.
The MoU aims to establish, promote and develop cooperation between both parties in advancing climate action solutions to Brunei Darussalam’s carbon emissions and establish climate-resilient pathways for a sustainable nation.
The MoU will also explore cooperation in other areas of interest, such as the Green Protocol, tree planting, renewable energy, awareness and education campaigns, sustainable finance and investment in energy conservation, as well as identify flagship projects in collaboration with the Department of Energy, including solar panel instalment at targetted residential areas.
Key stakeholders of the initiative will include the Department of Energy at the Prime Minister’s Office, the MoD, the BCCS, the Housing Development Department and BIBD.
Through the MoU, BIBD and BNCCC agencies will look into the potential of green financing products to address the market gap and encourage adoption among industry, business and retail levels.
On the sidelines of the signing ceremony, the BCCS showcased some of its projects and initiatives which include renewable energy – a strategy that seeks to ensure a smooth transition for nationwide adoption and use of renewable energy technologies for example the housing development solar panels.
BCCS also showcased its Green Protocol initiative, which outlines the steps to be implemented to significantly reduce the nation’s carbon footprint through the adoption of efficient technologies and conservation measures in a number of areas – energy; water; paper and plastic usage; waste disposal management, official events management; and tree planting.
Meanwhile, BIBD showcased various initiatives implemented as part of its sustainability framework, which include its first ESG Fund introduced and operated by BIBD Securities, education and awareness campaigns through mass media, recycled calendars, digital festive packets, glass bottles, participation in the Coastal Marvel clean-up campaigns and its ‘Donate a Tree’ campaign.