CIMB Group chairman Datuk Mohd Nasir Ahmad said: “We are pleased to announce our Coal Sector Guide as the next major milestone in our sustainability journey, and part of our commitment to intensify our efforts on two fronts: grow our positive impact finance and enable a just transition to a climate-compatible future.”
KUALA LUMPUR: CIMB Group
Holdings Bhd will phase phase out coal from its portfolio by 2040 under its first Coal Sector Guide issued on Tuesday, starting next year and it would be across the group in all its operating markets.
With the issuance of the guide, CIMB becomes the first banking group in Malaysia and the first in Southeast Asia to commit to phasing out coal from its portfolio within these 20 years.
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