Our Pledge Towards Sustainability

Our pledge towards sustainability

 

As a leading ASEAN bank, our greater purpose is to advance customers and society towards a sustainable and low-carbon future. In line with this, we integrate economic, environmental and social (EES) considerations into all aspects of our business. 

 

Sustainability is one of the key elements of our strategic theme to become a purpose-driven organisation. Our strategy is two-pronged: we are committed to investing resources and influencing our networks to reduce negative EES impacts, while creating a net positive impact through our business activities.

 

CIMB is strongly committed to advancing sustainability, driving meaningful environmental and social impact through collaboration with clients, customers and stakeholders. Recently, CIMB was recognised for its efforts in sustainability, ranking first among the most influential financial institutions in the Financial System Benchmark by the World Benchmarking Alliance, and securing the top position globally out of 400 financial institutions assessed. CIMB is also the only Malaysian bank to be recognised in the S&P Global Sustainability Yearbook 2025, which recognises 66 leading banks worldwide for their climate and decarbonisation strategies, sustainable finance, financial inclusion, governance and risk management efforts.

Our Philosophy

CIMB Group's business philosophy centres on creating enduring impact beyond short-term gains. With a legacy spanning over a century, we drive progress as a financial institution, meeting present expectations while safeguarding the future. Our core mission in banking revolves around advancing customers and society, enabled by business practices that benefit everyone.​

Our accountability extends to our business's influence on both the planet and society. We are committed to responsible operations, aiming to create a net positive impact that aligns with our vision of a better future. This commitment drives us to optimise resources, capabilities and influence for positive economic, environmental and social change. Our forward-looking approach aims to build a meaningful legacy for CIMB and its stakeholders, including employees, customers and communities.​

 

We focus on two key aspects for net positive impact. Firstly, minimising our footprint entails reducing negative effects from our operations and enabled activities. This involves conducting environmental and social risk assessments, integrating best management practices and reducing carbon footprint across our value chain.​

Secondly, maximising our handprint means creating positive impacts. We achieve this by offering financial services aligned with our Green, Social, Sustainable Impact Products and Services (GSSIPS) framework. Our commitment extends to accelerating the transition of our corporate and SME clients towards low-carbon operations, while promoting financial inclusion and sustainable development through partnerships and awareness-building efforts.

 

Our Sustainability Principles

Through our ASEAN-wide presence, we can play a significant role in shaping the sustainability landscape in the region. Our pledge of #CIMBforTomorrow means that we aim to use our influence to not only improve the environmental, social and governance practices across our own operations, but also to create net positive impact for everyone connected to the Group. This is encapsulated in our Sustainability Principles, which are embedded in our organisational purpose and Forward30 strategy:

 

  • The Group will aim to ensure that the management of its internal operations and employees is consistent with the applicable sustainability policy requirements

  • The Group will not knowingly engage in business activities or with business relations that do not meet its policy requirements

  • As a Group, we will always strive to create a net positive impact on our business relations and the community, and we will adopt an inclusive approach to our business relations and strive to positively influence their sustainability performance and their commitment

  • CIMB will engage actively and openly with our stakeholders in the proactive management of sustainability risk and identification of opportunities for sustainable development

  • The Group will take a proactive approach to integrating economic, environmental and social risk assessments in central processes such as lending, investments, procurement and the management of operational impacts

Sustainable Development Goals

 

In keeping with our inclusive growth strategy, we support the 2030 Agenda for Sustainable Development. This definitive plan of action for people, planet and prosperity is anchored by the 17 SDGs.

 

Based on our material matters, sector exposure, and areas where we have direct impact and influence, we have prioritised 7 of the 17 SDGs. All our sustainability efforts, performance tracking, impact reporting and programmes and initiatives in relation to our focus areas are structured and designed to meet specific targets of our 7 priority SDGs.

Net Zero by 2050

 

We are committed to achieving net zero greenhouse gas (GHG) Scope 1 and 2 emissions in our operations by 2030 and overall Net Zero GHG emissions by 2050 (including Scope 3 and financed emissions), in line with Nationally Determined Contributions and the 1.5 degrees scenario of the Paris Climate Agreement.

Phasing out of coal by 2040

 

We have committed to phasing out coal by 2040. As an interim target, we aim to halve our financing and investment exposure to the thermal coal mining sector by 2030. For more information, please refer to the Coal Sector Guide in the Sustainable Finance Framework and the whitepaper, Our Path to Net Zero – Charting a Course to Decarbonisation.

No Deforestation, No Peat and No Exploitation

 

In 2022, we rolled out our No Deforestation, No Peat, and No Exploitation commitment to the palm oil, forestry and timber plantation sectors in larger markets, while smaller markets adopted the policy in 2023. We will not finance or facilitate capital raising for companies that are directly involved in the new conversion of High Conservation Value (HCV) areas or peatland, or those that lack legal rights and a policy/commitment on respecting free, prior, and informed consent of indigenous and local communities. Additionally, we will refrain from supporting companies that do not have a policy or commitment to prevent worker exploitation and uphold labour rights.

Investing RM150 million in communities and 100,000 annual volunteer hours

 

We believe in leveraging our resources and influence to address social inequalities. We therefore commit to investing RM150 million from 2021 to 2025 in local communities, and to contributing 100,000 volunteering hours annually.​

Mobilising RM100 billion in Sustainable Finance by 2024

 

We believe that the financial services sector is uniquely positioned to facilitate and support a just transition towards a low-carbon economy and bridge social gaps. Thus, we have made a commitment to mobilising RM100 billion in Green, Social, Sustainable Impact Products and Services between 2021 and 2024.​

Net-Zero Banking Alliance 

 

We are the first ASEAN bank to join the Net-Zero Banking Alliance. Bank-led and UN-convened, the Alliance comprises leading global banks committed to aligning their lending, investment and capital markets activities with Net Zero greenhouse gas emissions by 2050.

 

 

United Nations Environment Programme Finance Initiative: Principles for Responsible Banking 

 

We became one of the Founding Signatories of the Principles for Responsible Banking, committing to strategically align our business with the UN Sustainable Development Goals and the Paris Agreement on Climate Change. As a signatory, CIMB joins a coalition of more than 345 banks worldwide committed to playing a crucial role in achieving a sustainable future.

 

 

Partnership for Carbon Accounting Financials 

 

We estimate our financed emissions using the Partnership for Carbon Accounting Financials (PCAF) methodology - the recommended calculation approach for financed emissions under the International Financial Reporting Standard (IFRS) S2 - to support our Net Zero by 2050 commitment.

 

 

International Chamber of Commerce (ICC) Sustainable Trade Finance Working Group 

 

We are an active member of the ICC Sustainable Trade Finance Working Group, an initiative established in 2016 to develop best practice standards for sustainable trade. 

 

 

United Nations Global Compact

 

We are a member of the UN Global Compact Network Malaysia & Brunei, a leading voluntary initiative that encourages global businesses to adopt sustainable and socially responsible policies based on 10 principles covering human rights, labour, the environment and anti-corruption.

 

 

CEO Action Network 

 

We co-founded the CEO Action Network (CAN) with our partner, IMPACTO, in 2020 to create a closed-door, peer-to-peer informal network of CEOs and board members committed to driving sustainable action in corporate Malaysia. With more than 70 members from over 20 critical sectors, CAN aspires to catalyse its members and the broader economy towards proactively shaping future-ready, ESG-integrated business models and ecosystems.

 

 

Joint Committee on Climate Change

 

We play an active role in the Joint Committee on Climate Change (JC3), co-chaired by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC). JC3 works to mobilise collective action in Malaysia’s financial sector to promote climate resilience, both within the sector and across the wider economy. The inputs, insights and recommendations arising from JC3 are used to shape sustainability policies and regulations set by BNM and the SC.

 

Value-Based Intermediation

 

We are strong advocates of BNM’s Value-Based Intermediation (VBI), which aims to deliver the intended outcomes of Shariah through practices, conduct and offerings that generate positive and sustainable value for the economy, community and environment, and that are consistent with the commitment to delivering sustainable returns and long-term value for shareholders.

OUR ROADMAP

 

Our Roadmap, covering Economic, Environmental, Social and Governance (EES&G) aspects, operationalises our principles, guiding strategies for sustainable impact. Encompassing our operations and stakeholders, it addresses crucial concerns to deliver net positive effects on the economy, communities and the environment. Aligned with Value-Based Intermediation (VBI) principles, it embodies action based on benefit creation and harm prevention. Visit Our Roadmap page to learn more.

 

OUR PRIORITIES

 

We recognise that the global banking industry is continuously evolving, with increasing pressure and expectations from society. Materiality assessment is one of our key approaches to identifying the critical economic, environmental and social matters for our organisation, and the outcome informs our sustainability strategy and supports our ambition to become an ASEAN sustainability leader. Visit our Materiality Methodology page to learn more. 

 

Based on the outcome of our materiality assessment, we prioritised 13 material topics that represent CIMB’s most significant impacts on the economy, environment and society — and the most significant impacts these areas have on CIMB.

 

 

SUSTAINABILITY REPORT

 

A DIVERSE NETWORK