CIMB commits $70.59b to boost green initiatives in ASEAN

This will support regional plans, including the establishment of an ASEAN grid.

CIMB Group Holdings Berhad is eyeing a sustainable finance target of $70.59b (RM 300b) by 2030 to support green projects across ASEAN.

“Our ambitious sustainable finance target, which is three times higher than our previous target, is anchored on our purpose of advancing customers and society,” said Novan Amirudin, group CEO and executive director of CIMB Group.

Since introducing its sustainable finance roadmap in 2021, CIMB has continuously raised its ambitions, tripling its sustainable finance target from $7.06b (RM 30b) to $23.53b (RM 100b) for the 2021–2024 period.

It aims to expand its financing capabilities to support regional and national initiatives, including the establishment of the ASEAN Power Grid, the National Energy Transition Roadmap and the Johor-Singapore Special Economic Zone.

“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,” Amirudin said.

$1 = RM4.25