Under Advancing Organisational Sustainability, we are committed to achieving Net Zero emissions across our operational boundary by 2050, covering emissions from our offices, buildings and day-to-day operations. This reflects our responsibility to manage and reduce the environmental impact of our own activities, while supporting our broader sustainability ambitions.

Our approach is guided by the principles of Reduce and Offset (R20). We prioritise reducing emissions through energy efficiency improvements, operational optimisation and the increased use of renewable energy. Residual emissions that are currently hard to abate will be addressed through the use of credible carbon credits, once final emissions data has been verified through our assurance process.

Our R2O Strategy

Reduce

Prioritise emissions reduction initiatives

Mapping of emissions and baselining
Define high impact carbon reduction initiatives
Incorporate ESG values in daily operations
Engage and educate radically via strategic ESG communications

Replace

Efficiency improvement leading to reduced GHG emissions

High impact equipment replacement initiatives
Targeted emissions reduction activities
Assessment on availability of technology in the market
Change management and engagement

Offset

Purchase carbon offsets of remaining hard-to-abate GHG emissions

Alignment with credible standards in offsetting
Prioritise nation building initiatives
Verifiable and credible projects

Our Targets:

In 2025, our NZE 2025 (Scope 1 and 2) achievement reflects our proactive efforts to embed climate-focused strategies within our operations, anchored by our R2O approach. Beyond 2025, we aim to maintain our NZE status for Scope 1 and 2 emissions in support of our longer-term Net Zero 2050 ambition across all scopes.

i. 20% emissions reduction in business travel and employee commuting by 2030.
ii. 50% emissions reduction by 2040 through:
- Sustainable Procurement by 2040
- Greening Business Travel and Employee Commuting by 2040
- Zero Waste by 2040

We recognise that addressing Scope 3 emissions is essential to our Net Zero journey, particularly across business travel, employee commuting, sustainable procurement and zero waste. We are progressively strengthening our efforts across these areas to reduce indirect emissions within our value chain, in support of our Net Zero 2050 ambition.

We recognise the value of carbon offsetting in helping us address hard-to-abate emissions within our operations. We are exploring opportunities to invest in credible carbon projects as part of our broader decarbonisation strategy. These efforts complement our emissions reduction initiatives as we progress towards our Net Zero ambition.

Commitment 2:

Delivering on our social sustainability goals

At PNB, we recognise that creating long-term value goes hand in hand with supporting and empowering people. We are committed to fostering an inclusive environment within our organisation while ensuring that our services remain accessible and responsive to the diverse needs of our customers.

Our Targets:

Minimum 40% Women In
Leadership Roles

PNB is committed to maintaining a minimum of 40% women in leadership roles. Having surpassed this target in 2025, we continue to strengthen our talent pipeline and leadership development efforts to sustain this momentum and support a more inclusive organisation.

Inclusive and Accessible Organization for Persons with Disabilities (PWD)

PNB is committed to fostering an inclusive and accessible environment for persons with disabilities, both within our organisation and across our services. We continue to enhance our practices to ensure accessibility, supporting greater participation, dignity and independence for all individuals.

Commitment 3:

Transparency, governance and active ownership

PNB continues to strengthen its approach to transparency and governance in line with evolving global standards and local regulatory expectations, including frameworks such as the NSRF and IFRS Sustainability Disclosure Standards. We are progressively enhancing our disclosures, governance frameworks and oversight practices to support greater clarity, consistency and accountability.

For more information on our sustainability governance, please refer to PNB’s Integrated Annual Report 2025

PNB IAR 2025

Our Stewardship Report

Commitment 4:

Cultivate sustainability in talent and culture

While policies and technologies play an important role, it is culture that ultimately shapes how people think, behave and make decisions. Culture influences our daily habits, our relationship with the environment and our sense of responsibility towards future generations.

By embedding sustainability into the cultural fabric of our workplace and communities, we move beyond short-term initiatives and drive a lasting shift in mindset, supporting more responsible and sustainable behaviours over time..

Commitment :

At PNB, we recognise that creating long-term value goes hand in hand with supporting and empowering people. We are committed to fostering an inclusive environment within our organisation while ensuring that our services remain accessible and responsive to the diverse needs of our customers.