Sustainablility / Responsible Business / ESG
As part of delivering the above statement to stakeholders, we understand the importance of managing risk well and are committed to responsible, sustainable growth through fair, ethical and responsible business practices. Thus, we not only look at risk from a traditional perspective (i.e. credit risk, market risk) but also look at environmental, social and governance risk. We take account of ESG risk while developing a product or services.
Our Commitment is underscored by the recent signing of a Memorandum of Understanding with WWF for the development and implementation of the Environmental, Social and Governance Framework.
We have taken a proactive step of establishing and implementing an EXCLUSION LIST, which lists sectors or types of customers that do not fit into uab bank’s profile. We do not facilitate financing to entities engaged in activities listed below:
- Production, trading and maintenance of weapons and munitions of any kind
Trade in or unauthorized catching of wildlife or wildlife products
Production or trade in any product or activity deemed illegal under Myanmar laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances
- Hunting marine mammals and shark finning
- Using of dynamite and poison in fishery practices
- Activities involving harmful or exploitative forms of forced labor or harmful child labour
- Activities involving people smuggling of any kind
Environmental data for the financial year ended at 31st March 2023:
| Item | Figures in MMK | ||
|---|---|---|---|
| Water | 5,350,500 | ||
| Energy | Electricity | 323,491,258 | Petrol | 1,022,079,556 |
| Carbon (Metric Tons of CO2e) | 1,636 Metric Tons | ||
| Waste | One of the largest sources of waste at the Bank is paper and an exercise to convert paper usage to digital is being undertaken. Paper usage for the Financial Year ending 31st March 2023 was MMK 35,844,403. |