CIMB Group Holdings Berhad on Monday announced a bold new sustainable finance target of RM300 billion by 2030, underscoring its commitment to supporting a just and inclusive transition across the region.
This forms a core pillar of CIMB’s 2030 sustainability roadmap and is a key element of its Forward30 strategy.
Since launching its sustainable finance roadmap in 2021, CIMB has raised its ambitions from RM30 billion to RM100 billion for the 2021–2024 period, and now triples that again, aiming for RM300 billion through to 2030.
Group Chief Executive Officer and Executive Director of CIMB Group Novan Amirudin, stated that their ambitious sustainable finance target, which is three times higher than previous target, is anchored on the purpose of advancing customers and society.
“We have a critical role to play in supporting our clients in their sustainability journeys, and enabling them to thrive in a low-carbon economy.
As one of ASEAN’s leading banks, CIMB is committed to enabling real-world impact by directing capital towards responsible businesses, as well as activities that reduce emissions, protect ecosystems and generate meaningful social outcomes, to ensure no one is left behind,” he added.
He further emphasized CIMB’s role in guiding clients through complex and evolving sustainability challenges.
“We understand the many challenges our clients face, from mandatory reporting requirements like IFRS S2, as well as navigating climate, nature and human rights risks, while responding to increasing customer demands on their supply chains.
Our role is to help our clients navigate these complex challenges, enabling them to understand and manage sustainability risks to future-proof their businesses, while opening doors to new business opportunities,” he said.
To help realize its sustainable finance ambitions, CIMB aims to build out its capabilities and solutions across ASEAN. This includes supporting regional and national efforts such as the ASEAN Power Grid, Malaysia’s National Energy Transition Roadmap (NETR), and the Johor-Singapore Special Economic Zone (JS-SEZ).
The Group will provide sustainability advisory, transition finance, nature-based carbon finance, and blended finance structures to unlock long-term value and meet increasing demand for environmentally and socially responsible financing.
CIMB is also focused on ensuring no one is left behind in the transition. Through its GreenBizReady programme, the bank helps SMEs improve their environmental performance with access to sustainability-linked financing and advisory services including lower financing rates for sustainable practices.
Meanwhile, the SMEBizReady programme approved over RM990 million in financing for nearly 500 SMEs in 2024 alone, supporting the adoption of green technologies, automation, and digital tools like e-invoicing.
For individual consumers, CIMB is working to make sustainable living more affordable and accessible. This includes special deals for responsible purchases and preferential financing for green homes and vehicles, encouraging eco-friendly choices in daily life.
The Group is also investing in inclusive development, offering targeted initiatives to support vulnerable communities and the B40 segment, such as financial literacy programmes, scam awareness, and access to micro investment and protection products.
In recognition of its leadership, CIMB was recently ranked first globally in the Financial System Benchmark by the World Benchmarking Alliance, which assessed 400 financial institutions for their contributions to global goals including the UN Sustainable Development Goals and the Paris Agreement. The Group moved up three places from the benchmark’s inaugural edition in 2022.
With its strengthened commitment, CIMB continues to lead in mobilising capital for a sustainable, inclusive, and climate-resilient future across ASEAN.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
