KUALA LUMPUR: Malayan Banking Bhd (Maybank) and clean energy company Gentari Sdn Bhd signed a memorandum of understanding (MoU) to collaborate and explore green mobility and renewable energy solutions.
This marks Gentari’s first collaboration with a financial institution, signifying an aligned commitment with Maybank to drive the adoption of sustainable solutions in the market.
The collaboration will further strengthen Maybank’s sustainability goals, aiming to achieve a carbon-neutral position of emissions by 2030 and a net zero carbon equivalent position by 2050.
Maybank community financial services group chief executive officer Syed Ahmad Taufik Albar said the bank is committed to becoming the sustainability leader in Southeast Asia, driven by sustainable financing and a crucial agent for low-carbon initiatives.
He said Maybank’s focus on delivering value-based solutions grounded in sustainable and ethical principles while meeting the market’s growing demand for eco-conscious practices.
“We offer comprehensive solutions in green mobility and renewable energy.
“Embracing our purpose of humanising financial services, we support our customers with a complete ecosystem: best-in-class, value-based offerings that are both within and beyond traditional banking,” said Taufik Albar in a statement.
As of December 2023, Maybank has surpassed its sustainable financing targets, mobilising RM34 billion for the year, well ahead of its 2023 target of RM16 billion, with a cumulative achievement of over RM68 billion, against the targeted RM80 billion by 2025.
The strategic partnership marks a significant milestone, harnessing Gentari’s well-established expertise in the green mobility and renewable energy sector and underscoring Maybank’s commitment to championing sustainable practices and innovative solutions.
With Gentari as the clean energy solutions partner in this journey, Maybank is installing charging points for electric vehicles (EV) and hybrid vehicles at its network of premises and branches nationwide, beginning with ten strategically chosen locations.
Having the widest network of direct current (DC) fast chargers in Malaysia, Gentari offers EV and hybrid vehicle owners in Malaysia access to over 335 charging points, including more than 100 DC fast chargers, which enable rapid charging for EV and Hybrid vehicles.
This collaboration will extend Maybank Islamic’s InCharge pre-credits to include Gentari’s charging stations, giving customers more access and benefits.
Maybank Islamic InCharge is an EV pre-credit incentive programme for EV and hybrid vehicle owners with Maybank
Islamic Auto financing with credits useable at selected charging stations.
Meanwhile, Maybank’s small and medium enterprises (SMEs) customers will have access to consultancy and advisory services facilitation with Gentari as the clean energy industry expert in Maybank’s myimpact SME Hub.
Other areas of collaboration include cross-branding and marketing efforts of the entire suite of Maybank product offerings, including financing, insurance and takaful, card partnerships and others, leveraging on Maybank’s financial offerings and digital platforms with Gentari’s expertise and facilities.
“A just energy transition requires diverse stakeholders to unite to make clean energy more accessible, sustainable and affordable.
“This collaboration unites Maybank’s suite of financing and insurance solutions with Gentari’s green mobility and renewable energy offerings, marking the collaboration between like-minded partners dedicated to making the shift towards a sustainable lifestyle attainable,” Gentari deputy chief executive officer Shah Yang Razalli, also the chief executive officer of Gentari Green Mobility.
The exchange between Maybank and Gentari occurred in a closed-door ceremony attended by the senior management of both companies.
The partnership aims to create greater awareness and more opportunities for individuals and businesses to make a positive impact through sustainable choices and contribute meaningfully to a better tomorrow.
