HSBC Amanah bags Credit Card Initiative of the Year - Malaysia at ABF Retail Banking Awards 2021
Its ESG Charity credit card feature highlights the bank’s commitment to sustainability.
Whilst the pandemic has caused financial institutions to ramp up their technological innovations, any project being done should never forget one key component: sustainability.
In Malaysia, HSBC has been at the forefront of driving the sustainable financial agenda, helping to build a thriving, resilient future for society and businesses.
The HSBC Amanah Environmental, Social and Governance (ESG) charity feature for HSBC Amanah Credit Cards is a new innovative feature that enables HSBC and its customers to make a sustainable difference to our communities and the environment.
For every charitable donation made by cardholders on their HSBC Amanah Credit Cards, HSBC will donate 1% of the charity spend to selected local charities and non-profit organisations. The charities supported represent different pillars within the United Nations Sustainable Development Goals.
Together with this ESG charity feature, HSBC has also partnered with social business, Incitement, to create a dedicated digital platform for customers to support local charities and non-profit organisations. With this digital platform, HSBC continues to drive awareness of the charities the bank supports and provides a secure avenue for its credit cardholders to donate to the supported charities or volunteer to the featured causes.
Through the platform, customer’s contribution is 100% transparent on where the donation is contributed; customers will also receive automatic updates regarding the progress and at the end of each charitable cause, a summarised impact report will be made available on the platform.
HSBC Amanah was also the first within HSBC Group to launch credit cards made from 85% recycled plastic (rPVC) in January 2021, with the use of rPVC in all cards to rise to 100% later in the year. With this pioneering move, carbon emissions from their credit card production are expected to be significantly reduced in 2021 and beyond.
At HSBC, it is acknowledged that economic growth must also be sustainable to achieve long-term success and sustainability goals can enable organisations to create financial performance, whilst at the same time, achieving positive environmental and social impact.
HSBC is committed to becoming a net-zero bank and is reducing its footprint through its operations, supply chain, and financing portfolio. HSBC aims to achieve net-zero in operations and supply chains by 2030 or sooner.
Underlining the bank’s emphasis on sustainable banking has earned HSBC Amanah the Credit Card Initiative of the Year - Malaysia at ABF Retail Banking Awards 2021. The award recognises the cutting-edge innovations and the impacts it has made to customers and financial institutions.
HSBC Amanah’s ESG Charity credit card feature stands out for its unique approach to credit banking, as highlighted by its consideration of sustainable development goals. For HSBC, the mentioned features are just the beginning of their ongoing effort to build a more sustainable future, socially and environmentally.