KUALA LUMPUR: RHB Bank
Bhd has entered into a two-year strategic partnership with the Malaysian Estate Owners' Association (MEOA) to support sustainable investments in Malaysia's plantation sector.
In a statement, the bank said the collaboration would focus on financing solutions for oil palm replanting, renewable energy, energy efficiency, decarbonisation, workers' welfare and circular economy initiatives.
Under the collaboration, RHB and MEOA will explore financing and investment opportunities for solar photovoltaic systems, biogas facilities, energy-efficient machinery, methane capture projects and improvements to workers' housing.
The partnership will also include workshops and industry engagement to help plantation operators access sustainable financing, meet regulatory requirements and manage climate-related risks.
MEOA, which has 163 members representing about 1.2 million hectares of oil palm and rubber estates nationwide, will provide industry feedback to help align financing solutions with plantation operators' needs.
RHB group chief sustainability officer Angus Salim Amran said the partnership aims to support the sector's transition towards more sustainable operations while strengthening long-term business resilience.
“Through this pioneering RHB and MEOA partnership, we aspire to collectively facilitate practical solutions and unlock opportunities to support long-term business resilience.
“RHB is committed to being a steadfast and impactful partner for customers as they progress on their sustainability pathway, towards realising Malaysia's broader net zero ambitions,” he said.
MEOA president Ahmad Zachry Anifah Aman said the collaboration would help estate owners assess practical financing and implementation options to improve productivity and competitiveness.
RHB said it has mobilised RM71bil in sustainable financial services under its PROGRESS27 strategy, against a target of RM90bil by 2027.
