CIMB Group joins UN’s responsible banking group

CIMB Group CEO Tengku Datuk Seri Zafrul Aziz.

KUALA LUMPUR: CIMB Group Holdings Bhd has taken the lead among the banks in Asean to be an official member of the United Nations’ (UN) Environment Programme Finance Initiative Principles for Responsible Banking (UNEP-FI).

It said on Sunday it was the only banking group in Malaysia and Asean to be a founding member of the sustainable initiative, together with 26 other leading banks from five continents and 19 countries.

The objective of the UNEP-FI group is to help redefine the global banking industry’s role and responsibilities in shaping a more sustainable future.

This would be achieved by firstly, directing efforts to align with society’s goals as expressed in the UN’s Sustainable Development Goals, the Paris Agreement, as well as national and regional frameworks.

Secondly, setting the global benchmark for sustainable banking;

Thirdly, requiring signatory banks to set goals for and report on their contribution to national and international social, environmental and economic targets to ensure accountability and transparency on banks’ impacts; and 

Fourthly, challenging the banking industry to play a leading role in creating a more sustainable future.

Commenting on the endeavour, Tengku Datuk Seri Zafrul Aziz, Group CEO, CIMB Group said:

“As a leading universal bank in Asean, we have always perceived our role as going beyond providing great financial products and services. 

“As such, we are pleased to play a more active and meaningful role in shaping our planet’s sustainable future by championing responsible banking globally.”

Zafrul said CIMB was fully committed to achieve UNEP-FI’s objectives to help transform global banking practices to ensure the industry creates a positive impact not just economically, but also socially and environmentally. 

He pointed out the banking group’s membership of the UNEP-FI also complemented Bank Negara Malaysia’s value-based Intermediation strategy for the Islamic banking industry.

Zafrul also said complemented CIMB’s initiative to include sustainability into all aspects of its operations group-wide, which would be a key focus area in its next mid-term growth plan.