Unique private-public collaboration aims to plant 10,000 trees in Kinta Nature Park for carbon sequestration and eco-tourism by September 2024
AEON Credit Service (M) Berhad (“AEON Credit” or “the Group”) today 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.
The “AEON Credit Biodiversity Afforestation Project”, which is spearheaded by AEON Credit in collaboration with the Perak State Park Corporation (“PSPC”) and the FRIM Incorporated Sdn Bhd (“FRIM”), aims to replant 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 2024. In addition to improving the biodiversity of the park, the trees will also capture and store atmospheric carbon dioxide for the next 20 years and beyond, a process known as carbon sequestration.
The launch of the project was graced by Yang Amat Berhormat Dato’ Seri Saarani bin Mohamad, Perak Menteri Besar; alongside Yang Berhormat Dato’Mohd. Zaki Bin Mahyudin, Perak State Treasurer. Other luminaries present at the event were Puan Halizah Binti Sipun, Perak State Economic Development Unit; Tuan Nazrul Fahami Bin Mohamad, Kampar District Officer; Mr. Ahmad Suaqiry Bin Alias, Kampar District Council President; Mr. Lau Ching Fong, Perak State Park Corporation Acting Director; as well as Mr. Ng Eng Kiat, Chairman of AEON Credit and Mr. Daisuke Maeda, Managing Director of AEON Credit.
The event also saw over 600 volunteers consisting of officials from Ministry of Natural Resources and Environmental Sustainability and Perak State and local university students as well as AEON Group of Companies Malaysia management and employees, working together to plant 2,000 trees as the first batch of trees at the conservatory area within the park. This area, which is a former tin mining site, is a well known habitat for migratory birds.
Daisuke Maeda, said, “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.”
He also explained that the AEON Credit Biodiversity Afforestation Project is in line with the Group’s 3-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,” he added.
AEON Credit also highlighted that the Group will also be responsible for the maintenance of these trees after they have been planted. After 36 months, AEON Credit 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 million in Sustainability-Linked Loans (“SLL”) from two Japanese banks and a local bank in pursuit of sustainable development business strategies. Among such as being 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.
