CIMB onboards SME Corp. Malaysia in its GreenBizReady programme; launches ESG Playbook for SMEs

22 July 2024

Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) have onboarded SME Corporation Malaysia (“SME Corp. Malaysia”) in the Bank’s award-winning GreenBizReady^TM programme designed for small and medium enterprises (“SMEs”) in Malaysia, as part of CIMB’s The Cooler Earth Sustainability Series (“the Event”) recently. At the same event, the Bank has also introduced the CIMB ESG Simplified Playbook for SMEs (“the Playbook”).

With the collaboration between CIMB and SME Corp. Malaysia, SMEs can now leverage complimentary tools such as the MSME ESG Assessment, which provides an instant ESG indicator score on the SME’s level of ESG readiness, as well as the ESG Quick Guide for MSMEs, which offers simple step-by-step guidance for SMEs to integrate ESG practices and develop a sustainability report. In addition, SME Corp. Malaysia also offers workshops, training and networking opportunities for CIMB’s SME customers to expand their knowledge and capabilities. 

Rizal bin Dato’ Nainy, Chief Executive Officer of SME Corp. Malaysia said, "Being ESG-ready is a huge advantage for SMEs to access local and global markets. Hence, through this collaboration, more SMEs can gauge their ESG readiness and access valuable information and guidance to initiate ESG practices in their businesses.”

Ahmad Shazli Kamarulzaman, Co-Chief Executive Officer of Group Commercial and Transaction Banking, CIMB Group said, “We are pleased to collaborate with SME Corp. Malaysia under our GreenBizReady^TM ecosystem, providing crucial support for our customers to start with small steps and enable access to incentives that will help them achieve their sustainability goals. At CIMB, we are committed in our efforts to facilitate the transition of Malaysian SMEs towards a low-carbon economy, in line with the Government’s holistic sustainability agenda. In support of this, we are pleased to introduce the Playbook which aims to empower SMEs with practical sustainability knowledge and examples to integrate sustainable practices into their business operations while reducing costs.”

"By empowering SMEs with the right tools, they can strengthen their resilience and competitiveness, positioning their businesses for success both regionally and globally, while also making significant contributions to the nation’s goal of achieving Net Zero emissions by 2050,” he added.

GreenBizReady™ is CIMB’s comprehensive solution designed to empower SMEs on their sustainability journey. It provides access to essential training, advisory services and matches them to relevant suppliers and service providers. SMEs can also benefit from financial solutions and incentives, utilise tools to measure sustainability performance and carbon footprint, ensuring a holistic approach to adopting sustainable business practices. Since its inception in 2021, the programme has strengthened its ecosystem by collaborating with 21 organisations and government agencies and has helped over 200 companies in various ways on their sustainability journey. Part of the GreenBizReady^TM initiative is the Sustainability-linked Financing (“SLF”) which provides an allocation of RM3 billion through 2030 and offers attractive financing rebates of up to 0.50% per annum, to encourage SMEs to achieve credible greenhouse gas emission reduction targets and meet their capital or expansion needs.

Meanwhile, the newly launched Playbook outlines practical solutions for SMEs to reduce carbon emissions from electricity, petrol or diesel, providing access to free, user-friendly tools such as carbon emissions calculators that can be used to estimate their emissions and identify potential savings. It also contains relevant resources for SMEs to enhance their sustainability practices through guidance on policies and incentives, as well as sustainable finance options to boost their transition. 

The Event offers year-round tailored customer engagements, continuous learning and collaboration opportunities exclusively for CIMB Commercial Banking customers. Customers gained crucial insights on material matters on their businesses through networking sessions with industry leaders and government agencies, such as SME Corp. Malaysia, TERA VA Sdn. Bhd., Maqo Engineering Sdn. Bhd., Malaysia Association of Energy Service Companies (“MAESCO”), Malaysian Green Technology and Climate Change Corporation (“MGTC”), Malaysia External Trade Development Corporation (“MATRADE”) and Malaysian Investment Development Authority (“MIDA”), facilitated by CIMB.

CIMB is committed to providing customers with an extensive range of sustainable finance solutions as guided by the Group’s Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework, an internal taxonomy set by the Group to deliver impactful sustainable finance. Last year, the Group tripled its sustainable finance target to RM100 billion by 2024, a substantial increase from its RM30 billion target previously announced in 2021. CIMB is on track to achieving its RM100 billion target, recording over RM80 billion in sustainable finance, as of December 2023.

For more information about CIMB’s GreenBizReady^TM proposition and to access the Playbook, please visit https://cimb.com.my/greenbizready.