Our Commitment - uab bank

Sustainability / Our Commitment

Leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives

We define the term “Sustainability” as economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Board Statement on Sustainability

The Board is firmly committed to the principles of responsible banking, fully aware of the pivotal role that a sustainable business approach endorses in shaping the Bank’s long-term success and equally the success of its Stakeholders.

We prioritise economic, environmental, and social considerations, including issues like climate change and human rights, in the diverse communities and markets where we operate. These fundamental principles strengthen our comprehensive approach, from risk assessment in business transactions to the development of innovative products and services, the management of our operations and supply chain, and our dedication to meet and exceed the expectations of our diverse group of stakeholders.

Our commitment further extends to our adherence to regional, national, and international environmental and social standards, all of which are distinctly applicable to our business operations and services. We are dedicated to upholding the principles in the UN Global Compact, the United Nations Guiding Principles on Business and Human Rights, the UNEP Statement of Commitment by Financial Institutions on Sustainable Development, the Equator Principles, and other applicable emerging standards. Furthermore, we aim to contribute actively to the realisation of the United Nations Sustainable Development Goals, reinforcing our commitment to a more sustainable and equitable environment for all.

Aligning Business and Sustainability Goals at uab Bank

uab bank recognises that its financial success is deeply connected to the well-being of its customers, employees, communities, and the environment. As a purpose-driven institution, we are committed to making positive social, economic, and environmental impacts.

Our business philosophy is anchored in sustainable practices, which are reflected in our corporate citizenship strategy. We actively engage with stakeholders to address key material concerns and align them with the bank’s strategic objectives.

The UN Sustainable Development Goals (SDGs) serve as a cornerstone of our sustainability efforts, and our reports highlight how we contribute to these global targets.

uab bank has prioritised financing clean energy projects, contributing to the global effort to limit temperature rises to 1.5°C. We aim to expand our financing of renewable energy projects each year. Furthermore, uab bank currently does not provide funding for fossil fuel power generation and is actively seeking opportunities in solar and alternative energy sectors.

At the operational level, we are committed to reducing our carbon footprint by exploring alternative energy sources. Our ongoing targets include implementing solar energy at our branches and acquiring electric vehicles for the bank’s fleet. We are also pursuing a digital transformation to reduce paper waste and offer lifestyle tools for our customers.

These initiatives, along with other efforts, are detailed in our Non-Financial Activity report.

For more information, we invite you to review the links and Sustainability Reports provided below.