KUALA LUMPUR: CIMB Group Holdings Bhd (CIMB) is raising its sustainable finance target to RM100 billion by 2024 under its Green, Social, Sustainable Impact Products and Services (GSSIPS) Framework.
Group chief executive officer Datuk Abdul Rahman Ahmad said CIMB has seen an acceleration in sustainable finance across the markets it operates in, with the growing awareness and adoption of environmental, social and corporate governance (ESG).
“If you recall at the last summit, we doubled our sustainable finance target to RM60 billion by 2024, with the aim of creating positive impacts aligned with our GSSIPS Framework. We are proud to note that this has already enabled us to surpass the RM60 billion target, as we have mobilised close to RM70 billion in sustainable finance to date since 2021.
“Accordingly, we are pleased to announce our higher sustainable finance target of RM100 billion by 2024, more than triple initial commitment announced in 2021. This is a significant increase, driven by the accelerating adoption of environmentally and socially responsible practices among our clients,” he said in his welcome remark at the Cooler Earth Sustainability Summit 2023 today.
He added that the trend is encouraging and further reinforces its conviction that the transition towards greener and more resilient economies presents significant new opportunities for financial institutions such as banks to grow their business. – BERNAMA
