b) Protecting Vulnerable Clients
To protect the rights and financial wellbeing of our targeted vulnerable groups, we have internal policies, procedures and safeguards in place when assessing potential borrowers in order to prevent over indebtedness. We also conduct training programmes to strengthen our employees’ understanding of vulnerable groups to ensure communications and information about products and services are easily legible and comprehensible, and to ensure appropriate sales techniques and respectful treatment of these groups. CIMB Group also has complaint mechanisms easily accessible to our vulnerable customers, so that we can respond to their feedback promptly and continuously improve the quality of our services.
We strive for a Just Transition in addressing climate change — greening the economy in a way that is as fair and inclusive as possible to everyone concerned, creating decent work opportunities, and enabling financial inclusion for underprivileged communities, tailoring our approach in alignment with local needs, capacities, and business priorities. This involves maximising the social and economic opportunities of climate action, while minimising and carefully managing any challenges in partnership with our stakeholders — including through effective social dialogue among all with impacted groups, ensuring responsible divestment strategies, and maintaining respect for fundamental labour principles and rights.
c) Providing Suitable Financial Products and Services
We are committed to innovate to expand our range of financial products and services to better align with the needs of the targeted underserved groups based on market research. This analysis helps us to better understand, address and tailor delivery methods based on the needs and preferences of our targeted vulnerable groups, including those with physical disabilities, the elderly and those facing financial hardship.
d) Collaboration and Non-Financial Support
We also actively engage with social welfare organisations, Higher Education Institutions and other industry players to expand the reach of inclusive financial services and offers non-financial support for specific underserved groups.
e) Monitoring and Reporting Progress
Governance oversight of our Economic Inclusion and Financial Health policies and commitment resides with our Board Group Sustainability Committee, which reports progress to the Board of Directors. Senior management and sustainability leads are accountable for driving execution, tracking key performance indicators, and ensuring integration into core business practices We monitor and report on our progress towards meeting our targets on an annual basis at the management and board level.
