HSBC today unveiled the HSBC Amanah Environmental, Social and Governance (ESG) charity feature for HSBC Amanah Credit Cards. This makes HSBC the first Islamic international bank in Malaysia to link a charity feature with its recycled plastic credit cards.
HSBC partnered with social business, Incitement, to create a dedicated digital platform for customers to support local charities and non-profit organisations. For every charitable donation made by cardholders on their HSBC Amanah Credit Cards, HSBC will donate 1% of the charity spend to four selected local charities/ non-profit organisations.
Oz Ahmed, Chief Executive Officer, HSBC Amanah said, “Sustainability can enable organisations to create financial performance, while at the same time achieving positive environmental and social impact. And our new ESG charity feature does exactly this – we have created a new innovative feature for our credit cards that will enable us to make a sustainable difference to our communities and the environment.
“HSBC Amanah is also the first within the HSBC Group to launch credit cards made from 85% recycled plastic starting January 2021. With this pioneering move, we expect to reduce the carbon emissions from our credit card production in 2021 and in the subsequent year.
“The HSBC ESG charity feature, our recycled plastic credit cards and our reduction of carbon emissions are all part of our efforts to become the HSBC Group’s first sustainable banking entity by the end of 2022,” added Oz.
“In addition to promoting local charities in Malaysia, the charity platform we created with our partner, Incitement, offers a seamless and transparent donation experience for customers through constant engagement on the progress of their chosen projects and beneficiaries.
“An impact report will showcase the total donations received and the breakdown of donations will be shared to ensure customers are well-informed about their contributions. This makes the donation process more convenient and transparent,” shared Tara Latini, Country Head of Wealth and Personal Banking, HSBC Malaysia.
As a start, the ESG charity feature will be benefiting four local charitable and non-profit organisations: Global Environment Centre, Yayasan Chow Kit, Pintar Foundation and Pertiwi Soup Kitchen. Each of these charities represent different pillars within the United Nations Sustainable Development Goals.