KUALA LUMPUR – CIMB Bank Berhad and CIMB Islamic Bank Berhad have launched CIMB GreenBizReady, a one-stop sustainability solution for Malaysian small and medium enterprises (SME) looking to start and progress on their sustainability journey.
With an allocation of RM250 million, SMEs will be empowered through financial solutions and incentives such as sustainability-linked financing benefits, access to sustainability service providers, training and capacity building, certification and advisory services, and business matching with support from industry leaders and government agencies.
Through GreenBizReady, CIMB hopes to catalyse the transition of Malaysian SMEs towards the green economy, in line with the Malaysian Government’s aim of advancing the sustainability agenda as part of a holistic and inclusive economic approach.
GreenBizReady will provide SMEs with a competitive advantage by equipping them with practical knowledge and tools to incorporate economic, environmental and social (EES) considerations into their business, helping them become sustainability-ready for long-term business resilience.
Moreover, it will also help SMEs to tap into the support and incentives provided by various Government agencies that are tasked with accelerating the adoption of the green economy.
As evidenced by the adverse impact of the global pandemic and severe weather events related to climate change, there is an urgent need for businesses of all sizes to take EES considerations seriously. Being a founding member of the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking and a signatory of the Collective Commitment on Climate Action (CCCA), CIMB takes a long-term view on its business to build a sustainable future for itself as well as its strategic associates in growth.
Besides that, in recent years, shareholders, regulators, investors and stakeholders have increasingly taken a more active an approach such as through shareholder resolutions and regulations to compel companies to have fair labour practices, reduce greenhouse gas emissions, increase diversity and inclusion, among others.
Among the organisations and government agencies who will be working with CIMB as part of GreenBizReady are Malaysian Green Technology and Climate Change Centre (MGTC), Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE), TNBX Sdn Bhd, Impacto Sdn Bhd, SIRIM Berhad, Private Financing Advisory Network (PFAN), OpenSys Technologies Sdn Bhd (buySolar), Aerodyne Group, Mentari Alam EKO (M) Sdn Bhd, Sols Energy Sdn Bhd and Revotech Electrical Sdn Bhd.
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