Maybank invests in mRECs to offset carbon emissions

KUALA LUMPUR: Maybank has signed a letter of intent with TNBX Sdn Bhd to purchase Malaysia Renewable Energy Certificates (mREC), making it the first local bank to purchase the non-tangible energy commodities to support renewable energy generation.

TNBX is a subsidiary of Tenaga Nasional Bhd, and currently the only provider of mRECs with recognition of certification from the International REC Standard Foundation (I-REC).