Bank Negara Malaysia
Bank Negara Malaysia (BNM) defines Value-Based Intermediation (VBI) as an intermediation function that aims to deliver the intended outcomes of Shariah through practices, conduct and offerings that generate positive and sustainable impact to the economy, community and environment, consistent with shareholders’ sustainable returns and long-term interests.
CIMB Islamic became one of the key founding members of BNM’s Community of Practitioners (CoP) for VBI in 2017. Today, we support VBI’s emphasis on the minimisation and prevention of negative impact arising from the banking industry’s practices, conduct and offerings. We are also part of BNM’s VBI Sectoral Guidance Working sub-group for Energy Efficiency (EE) and are a key contributor to the development of the EE sectoral guidance document.
We play an active role in BNM’s Joint Committee on Climate Change (JC3). The JC3 is intended to pursue collective actions for building climate resilience within the Malaysian financial sector. The JC3 is guided by the following three mandates:
- Capacity building through knowledge, sharing of expertise and best practices
- Identification of issues and challenges faced by the financial sector in managing the transition towards a low-carbon economy
- Facilitating collaboration between stakeholders
Find out more about BNM's Climate Change and Principle's Based Taxonomy here
CEO Action Network (CAN)
Initiated at The Cooler Earth Sustainability Summit 2019, the CEO Action Network (CAN) aims to influence policy, mobilise support, inspire action and deliver positive impact across the board. CAN is a closed-door peer-to-peer informal network of CEOs focused on sustainability advocacy, capacity building, action and performance. Through a dedicated Working Group, two Workstreams and active members driving bespoke initiatives, CAN aspires to catalyse its members towards shaping futureready and ESG-integrated business models and ecosystems.
Fine out more here.
Global Investors for Sustainable Development (GISD Alliance
CIMB is a member of the GISD Alliance, which is a group of high-powered business leaders from all over the world who have responded to the Secretary-General’s invitation to come together to provide decisive leadership in mobilising resources for sustainable development. The business leaders in GISD recognise the inherent value of taking a long-term approach to investment decisions and that this can be best achieved if competing businesses come together to address the impediments. They also accept that the continued success of their businesses is inseparable from the underlying economic, environmental, social and governance conditions that support a well-functioning global economy. The Alliance has a two-year timeline – from October 2019 to October 2021.
Find out more here.
Private Financing Advisory Network (PFAN)
CIMB is a Network Partner of PFAN, a Programme under UNIDO and managed by REEEP. PFAN is a global network of climate and energy financing experts that aims to bridge the gap between entrepreneurs developing clean energy projects and private sector investors.
Financial Industry Collective Outreach (FINCO)
CIMB is part of the Steering Committee of FINCO, a collaborative initiative pioneered by all financial institutions in Malaysia with the support of Bank Negara. FINCO's main objective is to provide underprivileged children and youth with guidance and education tools to achieve their goals.
