CIMB Group to phase out coal from its portfolio by 2040

CIMB Group chairman Datuk Mohd Nasir Ahmad (pic) said: “We are pleased to announce our Coal Sector Guide as the next major milestone in our sustainability journey

PETALING JAYA: CIMB Group Holdings Bhd is committed to phasing out coal from its portfolio by 2040 in support of Bank Negara’s agenda to build climate resilience within the Malaysian financial sector.

Introducing its first Coal Sector Guide yesterday, CIMB said this commitment would see it phasing out coal with effect from next year and it would be across the group in all its operating markets.