KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB GreenBizReady, a one-stop sustainability solution for Malaysian small and medium enterprises (SMEs) towards the green economy.
“With an allocation of RM250mil, 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,” CIMB said in a statement Wednesday.
Through GreenBizReady, CIMB hopes to catalyse the transition of Malaysian SMEs towards the green economy, in line with the Malaysian Government’s aim of advancing the sustainability agenda as part of a holistic and inclusive economic approach.
According to CIMB, GreenBizReady would 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 added that it would also help SMEs to tap into the support and incentives provided by various Government agencies that are tasked with accelerating the adoption of the green economy.
CIMB Islamic CEO Ahmad Shahriman Mohd Shariff said CIMB’s GreenBizReady solution would 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 added.
Among the organisations and government agencies who will be working with CIMB as part of GreenBizReady are Malaysian Green Technology and Climate Change Centre (MGTC), Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (Matrade),TNBX Sdn Bhd, Impacto Sdn Bhd, SIRIM Berhad, Private Financing Advisory Network (PFAN), OpenSys Technologies Sdn Bhd (buySolar), Aerodyne Group, Mentari Alam EKO (M) Sdn Bhd, Sols Energy Sdn Bhd and Revotech Electrical Sdn Bhd.
For more information, visit https://cimb.com.my/greenbizready