Bursa Partners CIMB to Boost ESG Adoption Among Malaysian Listed CompaniesMay 12, 2022 0 comments
Bursa Malaysia and CIMB Group has entered into a Memorandum of Understanding (MoU) to accelerate the adoption of environmental, social and governance (ESG) practices among Malaysian Public Listed Companies (PLCs) through the #financing4ESG initiative.
Through this MoU, CIMB will become the first home-grown bank to collaborate with Bursa on #financing4ESG.
CIMB will collaborate with Bursa Malaysia to offer sustainable finance offerings for Malaysian PLCs in alignment with the ratings model of the FTSE4Good Bursa Malaysia (F4GBM) index.
This aims to help Malaysian PLCs improve their sustainability performance and ratings for inclusion into the index.
At the same time, it supports their transition towards more sustainable business practices through various green, social, sustainable impact products and services (GSSIPS) offered by CIMB.
Bursa Malaysia will also coordinate joint engagement and onboarding sessions for eligible PLCs together with CIMB on the F4GBM framework, as well as the bank’s solutions under its GSSIPS Framework.
PLCs interested in learning more about the initiative or improving their general ESG practices may contact Bursa Malaysia’s Index & Sustainable Business unit via email.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said,
“As ESG compliance and disclosure have become a global demand, we are pleased to have CIMB together with us on our journey to enable Malaysian PLCs to become regional leaders in the ESG space.
Being one of the largest banks in Malaysia, CIMB is in a position of influence to encourage its clients to adopt ESG best practices.”
Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group said,
“CIMB is pleased to join the #financing4ESG initiative by Bursa Malaysia, as it is critical for the financial sector to encourage ESG adoption within the corporate sector through sustainable finance.
This will help to enhance the long-term resilience and competitiveness of Malaysian businesses, and at the same time support the transition towards a net-zero economy.”