CIMB Bank Berhad and CIMB Islamic Bank Berhad have onboarded SME Corporation Malaysia in the Bank’s award-winning GreenBizReady programme designed for small and medium enterprises (SMEs) in Malaysia, as part of CIMB’s The Cooler Earth Sustainability Series recently. At the same event, the Bank has also introduced the CIMB ESG Simplified Playbook for SMEs.
The collaboration between CIMB and SME Corp will enable SMEs to 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 also offers workshops, training and networking opportunities for CIMB’s SME customers to expand their knowledge and capabilities.
GreenBizReady is CIMB’s comprehensive solution is 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 GreenBizReadyTM 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.
The newly launched Playbook outlines practical solutions for SMEs to reduce carbon emissions from electricity, petrol or diesel, providing access to free, usser-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.
Rizal bin Dato’ Nainy, Chief Executive Officer of SME Corp 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 business.”
Ahmad Shazli Kamarulzaman, Co-Chief Executive Officer of Group Commercial and Transaction Banking, CIMB Group said, “ 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.”