An Interview with Taswin Zakaria, President Director at Maybank Indonesia

Can you tell us about your organization and your current role?

Maybank Indonesia (MBI) is committed to sustainability, exemplified by the establishment of a dedicated unit responsible for driving sustainability initiatives within the organization. Notably, this unit reports directly to me as the Chief Executive Officer (CEO), underscoring the strategic importance of sustainability in our organizational hierarchy. Our commitment to sustainability is more than a statement; it is ingrained in our operational ethos, guided by our leadership to ensure the seamless integration of sustainable practices throughout our business operations.

What are your corporate sustainability commitments and goals?

Our commitment to corporate sustainability aligns seamlessly with Maybank Group’s overarching vision for positive change and responsible business practices. As a vital contributor within the Maybank Group, Maybank Indonesia (MBI) is dedicated to supporting the Group’s ambitious goals. This includes actively participating in the Group’s aim to mobilize RM80 Billion (approximately USD18 Billion) in Sustainable Finance by 2025, emphasizing our role in environmentally and socially responsible initiatives.

Additionally, our focus extends to assisting the enhancement of the lives of 2 million households across ASEAN by 2025, emphasizing our collective commitment to making a tangible and positive impact on communities. Environmental sustainability remains a key pillar, with MBI contributing to the Group’s commitment to achieving a carbon neutral position for Scope 1 and 2 emissions by 2030, further aligning with the Group’s ambitious target of Net Zero Carbon Equivalent by 2050.

Lastly, MBI actively strives to contribute to the main goal of 1 million hours per annum set by Maybank Group dedicated to sustainability efforts and deliver 1 thousand significant Sustainable Development Goal (SDG)-related outcomes by 2025. These collaborative commitments exemplify MBI’s holistic approach, reinforcing our shared mission within the Maybank Group to drive positive change and contribute to a sustainable future.

Figure 1. Maybank’s Sustainability Commitments

Maybank's Sustainability Commitments. | Source: Maybank Indonesia. — Maybank’s Sustainability Commitments. | Source: Maybank Indonesia.

What have been your most difficult challenges in achieving those goals?

In our commitment to advancing sustainability at MBI, we’ve encountered several challenges. Market dynamics and the level of maturity for sustainability in different regions, combined with sustainability talent shortages, add layers of intricacy to our ongoing efforts. The task of aligning businesses with sustainable finance goals has proven complex as a knowledge gap still exists among our business teams. A key aspect involves enhancing the capability of our business units to identify sustainable finance opportunities and aligning them with the requirements set by our dedicated framework.

What opportunities do you see to address those challenges?

As we address the challenges within our sustainability goals at MBI, we see opportunities to enhance our approach. Elevating awareness and expertise through customized sustainability training for management, improving sustainability oversight, and engaging stakeholders are key initiatives. We are also planning to tailor technical workshops for our business teams on sustainable finance and other relevant sectors to address the issue of knowledge gap. We will also establish Sustainability Key Performance Indicators (KPIs) for all employees and enhance disclosures in our Sustainability Report to reinforce our commitments.

What are the ESG material (environmental, social, and governance) issues that your organization focuses on, and how do you integrate them into your corporate sustainability?

In 2022, our organization conducted a comprehensive materiality assessment, identifying five key ESG topics that guide our sustainability initiatives. These crucial areas encompass employee well-being, social responsibility, climate resilience, ethical governance, and sustainability-focused products and services.

Aligned with Maybank Group’s overarching vision, these ESG material issues are seamlessly woven into our corporate strategy, which comprises M25+ as well as sustainability commitments.

How do you communicate your corporate sustainability strategy and initiatives to internal and external stakeholders?

In communicating our corporate sustainability strategy and initiatives to both internal and external stakeholders, we employ a multi-faceted approach aimed at fostering awareness and engagement. Organizing themed events such as the Maybank Sustainability Series allows us to create a platform for dialogue and knowledge sharing, fostering a culture of sustainability within and beyond the organization. Additionally, the formation of Green Lab Advocates plays a pivotal role in internal communication, ensuring that our sustainability principles resonate throughout various departments. Furthermore, integrating the concept of sustainability into our flagship event, the Maybank Marathon in Bali, serves as a demonstration of our commitment to sustainable practices on a grand scale, resonating with a broader audience and stakeholders. These initiatives collectively contribute to a comprehensive communication strategy that aligns our sustainability goals with the values and expectations of both internal and external partners.

What were the most exciting initiatives and progress that you and your team have done in 2023?

This year, our team embarked on several exciting initiatives that reflect our commitment to corporate responsibility and sustainability. One highlight was the significant recognition and collaboration with government authorities, particularly: 1) the tree-planting event in Becakayu area in East Jakarta which aligned with MBI’s Global CR Day, carried out in collaboration with the local government in Jakarta and 2) the Eco Village program in Dusun Petung, Kelurahan Bangunjiwo which was centered on community-based sustainable organic waste management and education towards the village residents (mostly women) on waste sorting, supported by the local government of Yogyakarta.

Another notable achievement was our progress in delving deeper into the realm of sustainable finance, enhancing our understanding and capabilities in this evolving field. This also underscores our ongoing efforts to contribute meaningfully to sustainable development and responsible business practices.

What are the lessons you learned from your sustainability efforts in 2023?

MBI’s sustainability journey involves crucial lessons learned across diverse regions, fostering adaptability in our approach. Aligning businesses with sustainable finance goals requires continuous knowledge enhancement, emphasizing tailored training for internal education.

Communication and stakeholder engagement are imperative. Our successful approach, including the Maybank Sustainability Series, promotes internal awareness. Integrating sustainability into flagship events, like the Maybank Marathon in Bali, showcases our commitment.

In 2023, collaborations, such as tree-planting with local government authorities in Becakayu, exemplify our commitment to positive environmental change. These insights reinforce our dynamic approach, emphasizing education, collaboration, and effective communication in advancing sustainability at MBI, guiding us toward lasting impact.

What are your plans for your sustainability efforts in 2024?

In outlining our direction for 2024, Maybank Indonesia is set to undertake a range of sustainability initiatives. We plan to extend credit in line with our dedicated framework for sustainable financing.

Maybank Marathon will remain as our flagship program to empower community in terms of health and wellness, improve local economy, and foster inclusiveness (especially towards athletes with disabilities). Furthermore, through the Reach Independence & Sustainable Entrepreneurship (R.I.S.E.) 2.0 program, which involves communities of people with disabilities, and the Maybank Women Eco-Weavers (MWEW) program, which involves underprivileged women in activities such as micro-credit distribution and eco-friendly weaving, we encourage the creation of inclusive economic independence.

Cultivating a sustainability culture remains a priority, encompassing the organization of a Sustainability Series event for Maybank Indonesia’s employees. Enhanced communication strategies will be implemented, utilizing interactive content and engaging programs.

These plans are part of our broader Sustainable Finance Action Plan or RAKB, signifying our commitment to advancing sustainability across our operations in 2024 and beyond.

If you were to share advice you learned in your role that may be helpful to your peers and sustainability practitioners around the world, what would that be?

In the world of sustainability, things are always shifting and changing, keeping us on our toes. So, for us, staying in the loop with what’s happening in sustainability is like flipping through the pages of an ever-unfolding story. By keeping our fingers on the pulse of sustainability, we are not just reading the news; we are actively shaping our narrative within this dynamic landscape.

Editor: Marlis Afridah

This publication is a part of Green Network Asia’s Leaders in Sustainability Special Report 2023.