Maybank reaches half of $24 billion green loans goal, says CEO

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Maybank reaches half of $24 billion green loans goal, says CEO
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A big chunk of them has been disbursed to support Singapore-based companies’ shift to low-carbon sources. Read more at straitstimes.com.

KUALA LUMPUR – Malaysia’s biggest lender Malayan Banking is halfway towards meeting its target of putting RM80 billion toward sustainable finance by 2025.

“We can talk about moving into renewables straight away, but equally important is how we support our clients on transition financing, transition advisory,” he said.CIMB Group Holdings, which counts sovereign wealth fund Khazanah Nasional as its largest shareholder, aims to allocate RM60 billion to sustainable funding by 2024, twice its initial goal, while RHB Bank plans to put RM20 billion toward sustainable funding by 2026.

Malaysia is estimated to need RM637 billion of investments over the next three decades to support its renewable energy goal to reach 70 per cent of the energy mix by 2050. The country will “need support from overseas” for funding, Mr Khairussaleh said.

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