Petronas, Maybank are recognized as the most valuable brands in terms of sustainability perception
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and Malayan Banking Bhd (Maybank) are the most valuable Malaysian brands in terms of sustainability perceptions, according to the inaugural Sustainability Perceptions Index 2023 report by Brand Finance.
Petronas also ranked first among Asean brands on the list including household brands such as Viettel, DBS Bank, PTT and Telkom Indonesia.
The research by Brand Finance shows that Petronas scores highly in the Environmental, Social and Governance (ESG) pillars related to its commitment to protecting the natural environment, as well as supporting communities and wider society — reflected in the brand’s sustainability journey that over the past two decades has included its forays into cleaner, renewable energy.
Meanwhile, Maybank’s focus on upholding good ESG practices such as promoting sustainable finance resulted in an impressive performance as a “professionally managed, ethical and responsible” brand in the governance pillar.
Brand Finance Asia Pacific Managing Director Alex Haigh said sustainability is a recent trend but it is growing rapidly for brands in Malaysia and the wider region.
Accordingly, it is important that the country’s biggest and best-known brands take a leading role in driving action for the entire industry and be supportive.
“Petronas and Maybank are optimally positioned to do this through social and cultural activities in line with Malaysia’s sustainability agenda. Our research supports this effort in finding that not only is there great attention for them but it also generates significant value for both brands, ” he said.
A first-of-its-kind study, the report was released in Davos during the World Economic Forum, together with the International Advertising Association.
It reveals the financial value of perceived sustainability of the world’s largest brands and lists the world’s 500 most valuable brands in terms of perceived value of sustainability.
