By providing sustainable development consulting and innovative financial solutions such as transformational financing, nature-based carbon financing and hybrid financing structures, CIMB will be able to create long-term value while meeting the growing demand for environmental and social financial services.

He noted that CIMB’s role is to help customers meet complex challenges, enabling them to understand and manage sustainable development risks to ensure the future development of their business while preparing for new business opportunities.

In 2024, it provides financing for nearly 500 SMEBizReady through the SMEBizReady program to support SMEBiz to adopt green technology, automation and digital tools including electronic invoices to ensure that business operations are future-proof.

Since the launch of the blueprint for sustainable financial business development in 2021, CIMB has gradually raised its goals. It previously tripled the sustainable financial target from 2021 to 2024 from RM30 billion to RM100 billion. Today, its 2030 target is significantly increased to RM300 billion from before.

CIMB International stated on Tuesday (July 15) that sustainable finance is the core pillar of CIMB International's sustainable development blueprint for 2030 and an important part of its "Forward30" strategy.

CIMB Group CEO Novan Amirudin said: "Our ambitious sustainable financial goals are three times higher than our previous goals, which stems from our goal of supporting our customers and society's progress. We can play an important role in supporting our customers' path to sustainable development and helping them thrive in a low-carbon economy."

CIMB said it will work closely with its customers to adopt a responsible business approach while reducing the impact of potential carbon taxes and rising electricity prices, thereby enhancing long-term resilience and competitiveness in the international market.

Specifically, CIMB International plans to enhance sustainable financial capabilities, aiming to support regional and national plans such as the ASEAN Power Grid Program, Malaysia's National Energy Transformation Blueprint (NETR), and Johor Singapore Special Economic Zone (JS-SEZ).

CIMB International also actively supports small and medium-sized enterprises to improve their environmental performance and competitiveness. Through the GreenBizReady program, it provides sustainability-related financing and consulting services to help businesses adopt more sustainable practices while enjoying lower financing rates.

CIMB Group announced new goals, pledging to expand its sustainable development financing to RM300 billion (about S$90.2 billion) by 2030, helping the ASEAN economy be greener and more inclusive by 2030.