(07 December 2022 – Malaysia) CIMB Bank has rolled out a sustainability-linked treasury programme, with Farm Fresh Berhad and Sunway Berhad as its pioneering clients.
Under the programme, clients may get rebates upon achieving ESG targets. CIMB measures their commitment through pre-agreed sustainability performance targets or SPTs. These SPTs are unique for each client’s business profile and subjected to independent third party verification, the bank said.
The program is the first two in a new series of bespoke Treasury product offerings by CIMB that allow clients to embed their environmental, social and governance (ESG) aspirations into Treasury risk management solutions, the bank said in a press release.
“By combining our market leadership positions in both Treasury and sustainable finance, we are proud to walk the journey with our customers, from the one-off transactions that the market has seen into this recurring business-as-usual flow programme, reflecting the maturity of both ESG Treasury solutioning as well as customers’ acceptance,” said CIMB’s Co-chief Executive Officer, Group Wholesale Banking, and Group Treasurer, Chu Kok Wei.