AEON Credit Service (M) Bhd, Malaysia’s leading non-bank financial services provider, has launched a significant public-private initiative to rehabilitate the biodiversity of Kinta Nature Park in tandem with the group’s efforts to embrace sustainable best practices and safeguard the environment.
Spearheaded by AEON Credit in collaboration with the Perak State Park Corporation (PSPC) and FRIM Incorporated Sdn Bhd, the “AEON Credit Biodiversity Afforestation Project” aims to re-plant a total of 10,000 local indigenous, endangered International Union for Conservation of Nature (IUCN) Red List and fruit tree species throughout more than 20 hectares of the park by September this year.
In addition to improving the park’s biodiversity, the trees will also capture and store atmospheric carbon dioxide for the next 20 years and beyond, a process known as carbon sequestration.
Graced by Perak Menteri Besar Datuk Seri Saarani Mohamad; the event drew over 600 volunteers consisting of officials from the Natural Resources and Environmental Sustainability Ministry and Perakians, local university students as well as the management and employees of the AEON Group of Companies Malaysia.
Together, these people planted 2,000 trees as part of the first batch of trees at the conservatory area within the park. A former tin mining site, the said area is a well-known habitat for migratory birds.
“This remarkable collaborative effort marks the beginning of a transformative journey to improve the biodiversity of this park as well as to contribute towards climate-change action through carbon sequestration,” commented AEON Credit’s managing director Daisuke Maeda.
He also explained that the AEON Credit Biodiversity Afforestation Project is in line with the group’s three-year sustainability roadmap.
“When it comes to environmental stewardship, the group aims to help create a low-carbon society while ensuring the preservation of biodiversity for our future generations,” added Maeda.
AEON Credit also highlighted that the group will also be responsible for the maintenance of the trees after they have been planted. After 36 months, the company will hand-over the planted trees to PSPC which plans to develop the area further into an eco-tourism destination.
As part of its commitment towards sustainability, AEON Credit has carried out many initiatives targeted at environmental conservation and preservation over the years.
The group was the first non-bank lender to secure a total of RM600 mil in sustainability-linked loans (SLL) from two Japanese banks and a local bank in pursuit of sustainable development business strategies.
AEON Credit is also among the first in Malaysia to introduce a hire-purchase scheme for electric motorcycles, environmental conservation activities for coastal areas and conducting community inclusion activities by volunteers through the Malaysian AEON Foundation. – May 13, 2024
