RHB BANK AND TNB TO PROMOTE GREEN SOLUTIONS


The collaboration will offer SMEs, individuals solutions on renewable energy and energy efficiency

THE RHB Banking Group (RHB) and Tenaga Nasional Berhad (TNB) have forged a groundbreaking collaboration to expedite the adoption of renewable energy and energy efficiency solutions among small and medium enterprises (SMEs) and individuals.

The official exchange of documents, which was witnessed by Natural Resources, Environment and Climate Change Minister Nik Nazmi Bin Nik Ahmad, took place during the Energy Transition Conference on Aug 28.

The event brought together local and international thought leaders, industry players and policymakers from across the value chain to formulate solutions to accelerate energy transition effectively and form collaborations.

The strategic partnership complements the recently launched National Energy Transition Roadmap (NETR) towards empowering businesses, particularly SMEs, and individuals with the knowledge, tools and solutions needed to transition to greener practices.

With the collaboration, TNB will provide technical advice on energy efficiency and renewable energy solutions, including supplying and installing solar PV systems to SMEs — prioritising RHB’s SME customers and TNB’s clients and business partners.

Malaysia’s first financial services provider will offer green financing solutions, which comprises financing programmes in SME Green Renewable Energy, SME Green Construction, SME Green Commercial Property, SME Green Working Capital and SME Green Capital Expenditure.

RHB and TNB will jointly organise sustainability roadshows commencing in the third quarter of this year to engage SMEs in major Malaysian cities to promote awareness of sustainable business practices, introduce energy efficiency and renewable energy solutions, and provide advisory services and green financing solutions that support the SME’s transition journey in alignment with the nation’s decarbonisation aspirations towards becoming a low-carbon economy by 2050.

“We are proud to be the first financial institution to collaborate with Tenaga Nasional Berhad in nurturing, supporting and advancing SMEs in their sustainability journey,” said RHB group managing director/group chief executive officer Mohd Rashid Mohamad.

He added that the collaboration aligns with the bank’s Sustainability Strategy and Roadmap to help SMEs build a sustainable business by adopting greener practices.

“As a banking group, it is our responsibility to facilitate our customers’ transition journey through the financial products and solutions we offer,” he said.

“As of June 2023, the Group has approved over RM870mil in SME Sustainable Financing, of which RM103mil was Bank Negara Malaysia’s Low Carbon Transition Facility.

“We have also achieved more than RM5bil in sustainable financial services against our 2023 target of RM9bil and a cumulative achievement of over RM16bil, equivalent to almost 85% of our RM20bil target,” Rashid elaborated.

Sustainability Financing by RHBSustainability Financing by RHB

“We are also expanding our sustainable finance team with ESG sector specialists whose expertise covers a variety of industries, including renewable energy, oil palm, healthcare and property,” stated Rashid.

“Ultimately, we aim to work closely with our strategic partners, such as TNB and other relevant industry players, to advance and facilitate SMEs in their sustainability journey."

He said that as the energy transition gains momentum, the demand for green financing is set to increase significantly due to the growing adoption of green energy solutions in the country.

“Green financing and investment play a central role in TNB's commitment to advancing the energy transition, developing sustainable infrastructure, and fostering innovation to promote a low-carbon economy,” said TNB president and CEO Datuk Baharin Din.

“We are delighted to join forces with RHB for maiden green financing facilities to encourage rooftop solar installations among SMEs and residential customers who are looking for long-term savings on their electricity bills, fostering a low-carbon economy.

“Both TNB and RHB share a common vision of assisting SMEs and homeowners in transitioning to green energy solutions for a more sustainable future. We eagerly anticipate collaborating with like-minded financial institutions to bolster Malaysia's endeavours in establishing a thriving green finance ecosystem,” added Baharin.

In line with the group’s sustainability aspirations, RHB offers a comprehensive suite of sustainable financial services covering green, social and ESG-linked products and services for retail and non-retail clients ranging from personal financing for solar panel, EV financing of eco-friendly cars at competitive rates with complimentary one year ChargEV membership and sustainable financing programme for SMEs.

For more information on RHB’s Green Financing Solutions, visit https://www.rhbgroup.com/greenfinancing/index.html.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Starpicks

Your home for the holidays
EXPERIENCE RETAILTAINMENT AT WCT MALLS
Step into a Winter Wonderland at Gurney Plaza's "The Arctic Christmas"
The energy efficiency imperative: securing a sustainable future�under new regulations
Taylor’s College’s AUSMAT pathway continues to inspire future generations
Digital transformation driving growth for SMEs
CONTRIBUTING TO HELP MALAYSIA PROSPER
WOMEN LEADING INNOVATION
Prime real estate at affordable prices
Connecting communities, forging futures

Others Also Read