Banks take up Bank Negara’s challenge to combat climate change

“We have also put in place two group-wide policies -- one on overall sustainability policy, while the other is on looking at environmental and social risks in our business lending, ” CIMB group chief executive officer Tengku Datuk Seri Zafrul Aziz said.

KUALA LUMPUR: Malaysian banks are taking up Bank Negara Malaysia’s challenge to combat climate change with the adoption of a responsible lending policy as well as educating their retail and business banking customers on sustainability.

One of Asia’s largest investment banks, CIMB Group Holdings Bhd, said it has launched various sustainability-linked loans within the last 12 months, as well as issued a bond worth RM2.85 billion to fund projects related to the United Nations’ Sustainable Development Goals (SDGs), after setting up its Sustainability Department in October last year.