KUALA LUMPUR: CIMB Group has allocated RM250 million in its-newly launched CIMB GreenBizReady to help Malaysian small and medium enterprises (SMEs) to start and progress on their sustainability journey.
SMEs will be empowered through financial solutions and incentives such as sustainability-linked financing benefits, access to sustainability service providers, training and capacity building, certification and advisory services, and business matching with support from industry leaders and government agencies.
“GreenBizReady will provide SMEs with a competitive advantage by equipping them with practical knowledge and tools to incorporate economic, environmental and social (EES) considerations into their business, helping them become sustainability-ready for long-term business resilience.
“It will also help SMEs tap into the support and incentives provided by various government agencies that are tasked with accelerating the adoption of the green economy,” the bank said in a statement.
CIMB Islamic Bank Bhd chief executive officer Ahmad Shahriman Mohd Shariff said the solution will enable SMEs to embark on their transition towards sustainability in line with global standards and best practices.
Last year, CIMB engaged around 500 SMEs through various initiatives, and a common theme that has emerged is the growing interest in sustainable business.
“In collaboration with our strategic associates, GreenBizReady was developed as a comprehensive solution to help SMEs incorporate EES elements into their business, reduce their carbon footprint and create a positive impact with an eye on long-term considerations.
“This is also aligned with Bank Negara Malaysia’s value-based intermediation (VBI) initiative, of which CIMB Islamic is a strong proponent, and a founding member of the VBI community of practitioners,” he said.
Among the organisations and government agencies who will be working with CIMB as part of GreenBizReady are the Malaysian Green Technology and Climate Change Centre, Malaysian Investment Development Authority, Malaysia External Trade Development Corporation, TNBX Sdn Bhd, Impacto Sdn Bhd, and SIRIM Bhd. – Bernama