CIMB has launched an emissions advisory service for SMEs and mid-tier firms preparing for tighter climate disclosure rules.
The service, offered under CIMB’s GreenBizReady proposition, helps businesses measure greenhouse gas emissions and identify steps to reduce them.
Smaller companies may face growing requests for emissions data from larger corporate customers that need to report supply chain emissions under Malaysia’s National Sustainability Reporting Framework.
The Companies Commission of Malaysia has also proposed mandatory Scope 1 and Scope 2 greenhouse gas disclosure requirements for some non-listed companies, including those with annual revenue above RM15 million.
Businesses may finance selected initiatives through CIMB’s Sustainability Linked Financing programme, which offers rebates of up to 0.50% per annum for customers that meet agreed emissions reduction targets.
CIMB has allocated RM3 billion for the programme until 2030. The bank is also targeting RM300 billion in sustainable finance mobilisation by 2030.
Ahmad Shazli Kamarulzaman, Co-Chief Executive Officer of Group Commercial Banking, CIMB Group said,
“Our GHG Advisory Service aims to simplify this process by translating complex climate and emissions requirements into practical, business-focused actions with sector specific guidance and tools to measure and manage their carbon footprint.
We can help businesses to identify operational improvements and opportunities that support decarbonisation, cost savings and business growth, including protecting against shocks such as escalating fuel and energy prices due to geopolitical uncertainty such as the Iran war.”
Featured image: Edited by Fintech News Malaysia, based on image by user5604845 via Magnific
