CIMB launches one-stop sustainability solution GreenBizReady for SMEs

TheEdge Wed, Feb 03, 2021 08:04pm - 3 months ago

KUALA LUMPUR (Feb 3): CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched a one-stop sustainability solution for local small and medium enterprises (SME).

GreenBizReady will provide the SMEs with a competitive advantage by equipping them with practical knowledge and tools to incorporate economic, environmental and social (EES) considerations into their business, CIMB said in a statement.

This would help the SMEs become sustainability-ready for long-term business resilience, said CIMB, adding it will also help them tap into the support and incentives provided by various government agencies that are tasked with accelerating the adoption of the green economy.

“Through GreenBizReady, CIMB hopes to catalyse the transition of Malaysian SMEs towards the green economy, in line with the Malaysian government’s aim of advancing the sustainability agenda as part of a holistic and inclusive economic approach,” CIMB said.

With an allocation of RM250 million, SMEs will be empowered through financial solutions and incentives such as sustainability-linked financing benefits, access to sustainability service providers, training and capacity building, certification and advisory services, and business matching with support from industry leaders and government agencies, the statement read.

“CIMB’s GreenBizReady solution will enable SMEs to embark on their transition towards sustainability, in line with global standards and best practices,” said CIMB Islamic CEO Ahmad Shahriman Mohd Shariff.

Last year, CIMB engaged around 500 SMEs through various initiatives, and a common theme that has emerged is the growing interest in sustainable business, he said.

“In collaboration with our strategic associates, GreenBizReady was developed as a comprehensive solution to help SMEs incorporate EES elements into their business, reduce their carbon footprint and create a positive impact with an eye on long-term considerations,” said Ahmad Shahriman.

This is also aligned with Bank Negara Malaysia’s value-based intermediation (VBI) initiative, he added.

Noting the adverse impact of the global pandemic and severe weather events related to climate change, CIMB stressed the need for businesses of all sizes to take EES considerations seriously.

Among organisations and government agencies who will be working with CIMB as part of GreenBizReady are Malaysian Green Technology and Climate Change Centre (MGTC), Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE), TNBX Sdn Bhd, Impacto Sdn Bhd, SIRIM Bhd, Private Financing Advisory Network (PFAN), OpenSys Technologies Sdn Bhd (buySolar), Aerodyne Group, Mentari Alam EKO (M) Sdn Bhd, Sols Energy Sdn Bhd and Revotech Electrical Sdn Bhd.

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