Affin Group achieves MSCI ESG rating upgrade to AA
KUALA LUMPUR: Affin Bank Bhd has been upgraded from 'A' to 'AA' in the Morgan Stanley Capital International (MSCI) environmental, social and governance (ESG) ratings.
In a statement today, the bank noted that the upgrade, published in MSCI's latest ESG ratings report, was largely driven by improvements in its corporate governance practices, including enhanced board oversight, accountability, and transparency, all aligned with global best practices.
"According to MSCI's evaluation, the group outperformed industry peers, particularly in areas such as corporate governance, consumer financial protection, and data privacy practices.
"The group's approach to cyber security risk mitigation, product transparency, whistleblower policy, as well as business ethics and oversight, was found to be superior or in line with global standards,' it said.
President and group chief executive officer Datuk Wan Razly Abdullah said the group is honoured to be recognised by MSCI with an AA rating.
"This reflects the tangible progress we have made in embedding sustainability into our operations, culture, and governance.
"Sustainability is more than compliance; it is a core driver of how we create value for our stakeholders and ensure long-term resilience,' he said.
As part of its ESG-focused strategy, Affin said it continues to introduce purpose-driven products and services such as green financing, ethical investment solutions, and inclusive digital offerings that promote financial well-being and environmental stewardship.
"These include recent initiatives under its small and medium enterprises banking portfolio that support social enterprises, climate-conscious borrowers, and underserved communities, delivering both commercial and societal value,' the bank added. - Bernama
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