KUALA LUMPUR: The Export-Import Bank of Malaysia Bhd (EXIM Bank) has launched its EXIM Green Global Initiative, committing to mobilise up to RM1.5 billion in sustainable financing by 2027.
This initiative aims to foster environmental stewardship by funding impactful green projects.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the initiative aligns with the third mission of the New Industrial Master Plan (NIMP) 2030-‘Push for Net Zero’.
The ministry is spearheading a nationwide approach to decarbonise the manufacturing sector while seizing opportunities in emerging green growth areas.
"The initiative includes three core programmes to help businesses meet global sustainability standards and build climate resilience, focusing on micro, small, and medium enterprises (MSMEs) in the export sector. I believe it will be instrumental in enabling companies to complement their sustainability journeys.
"EXIM Bank's Green Global Initiative is a clear reflection of our shared commitment to ensuring that Malaysian businesses can remain competitive in the face of evolving global green standards," he said during his keynote address at the inaugural EXIM Sustainability Forum here today.
Meanwhile, EXIM Bank’s chairman Datuk Charon Mokhzani noted that under the Green Global Initiative, the bank would provide specialised assistance to clients, helping them measure and manage their carbon footprint through the EXIM Carbon Calculation Advisory and Support (CCAS).
Additionally, the initiative will offer an incentive of up to RM10,000 to cover financing-related fees when clients apply for green financing with EXIM Bank, encouraging businesses to invest in energy-efficient technologies and adopt sustainable practices.
The initiative also aims to reduce the carbon footprint of Malaysia’s vital palm oil export sector.
"By promoting the use of biochar in palm oil production, we aim to contribute to carbon sequestration and improve soil health.
"This approach supports the greening of palm oil exports, promoting sustainability across the supply chain,” said Charon.
Biochar revitalises agricultural practices, reduces methane emissions, and enhances the reputation of Malaysian palm oil exports on the global stage.
In addition to these initiatives, EXIM Bank has also introduced the government’s Exporters’ Development Incentive Scheme (SIP2), which provides a 1.5 per cent subsidy on financing rates for Malaysian exporters and entrepreneurs, encouraging them to seize international opportunities.
To date, EXIM Bank has allocated RM215 million to 37 companies benefiting from this scheme. - Bernama
