RAM Sustainability assigns Gold sustainable finance rating to AEON Credit’s Policy of Sustainability-Linked Financial Instruments

Published on 14 Aug 2026.

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RAM Sustainability has assigned a Gold Sustainable Finance Rating to AEON Credit Service (M) Berhad’s (AEON Credit) Policy of Sustainability-Linked Financial Instruments (the Policy) following a second-party opinion assessment.

The Gold rating reflects the credibility of the Policy’s sustainability commitments, governance framework and performance targets, which are designed to support future sustainability-linked financing initiatives.

The Policy is anchored by two key performance indicators (KPIs): cumulative green and social financing and reductions in Scope 1 and Scope 2 greenhouse gas (GHG) emissions. The selected KPIs are aligned with AEON Credit’s key sustainability priorities of financial inclusion, sustainable finance and climate action. Under the Policy’s sustainability performance targets (SPTs), AEON Credit aims to cumulatively disburse at least RM894 mil in eligible green and social financing by FYE 2031. AEON Credit also targets either a 20% absolute reduction in Scope 1 and Scope 2 GHG emissions or a 17% reduction in emissions intensity per floor area within the same timeframe. Supported by annual milestones, both targets adopt FYE 2026 as the baseline year.

Financial characteristics proposed by the Policy reflect common sustainability-linked financing structures comparable to global issuances, incorporating interest rate step-up and step-down mechanisms, depending on sustainability performance. Final terms will be determined at the issuance of future sustainability-linked financial instruments. Performance against the SPTs will be disclosed in AEON Credit’s Integrated Annual Report or on its corporate website.

RAM Sustainability considers AEON Credit’s sustainability governance framework satisfactory, with board-level oversight and organisation-wide governance structures. AEON Credit’s sustainability strategy is guided by identified material issues and implemented through initiatives such as its 3-Year Sustainability Roadmap and Climate Action Framework.

We have concluded that the Policy demonstrates a Strong level of disclosure against key local, regional and international sustainability-linked financing standards, including the Securities Commission Malaysia's SRI-linked Sukuk Framework, the ASEAN Sustainability-Linked Bond Standards, the Sustainability-Linked Bond Principles and the Sustainability-Linked Loan Principles.

AEON Credit is a non-bank financial services provider, specialising in consumer financing solutions. AEON Credit offers a broad range of financial products and services, including the issuance of credit cards and prepaid cards, the AEON Wallet application, Easy Payment schemes, hire purchase financing for motor vehicles, personal financing schemes and money lending services.

 

Analytical contacts
Nathania Wei
(603) 2708 8291
nathania@ram.com.my

Amirah Jamil
(603) 2708 8294
amirah@ram.com.my

Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my

 

This external review or second opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security’s market price or its suitability for an investor, nor does it involve any audit by RAM Sustainability. It is also not a credit assessment on the proposed Green, Social or Sustainability Bonds/Sukuk.

About RAM Sustainability

RAM Sustainability Sdn Bhd (RAM Sustainability) is a provider of sustainability services and ESG analytics. Incorporated on 31 May 2000, RAM Sustainability is a wholly owned subsidiary of RAM Holdings Berhad (RAM Group). RAM Sustainability is the first ASEAN-based provider of ESG ratings and second opinions and has the distinction of being the first Registered Observer of ICMA’s Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines and Sustainability-Linked Bond Principles in ASEAN. For further details, please refer to https://www.ram.com.my/sustainability.

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