PETALING JAYA: RHB Banking Group has committed RM5 billion in support of green financing by 2025, through its core business activities of lending, capital markets advisory and fundraising, and investment, in line with its sustainability framework.
As at Sept 30 2020, the group has grown its green financing portfolio to RM3 billion, up 6.3% from Dec 31 2019, in support of green projects which include renewable energy, green buildings, sustainable water and wastewater management.
Group managing director Datuk Khairussaleh Ramli said the group is stepping up its efforts to support the country’s aspiration to transition to a low-carbon and climate resilient economy.
“This also requires us to nurture businesses, and stimulate innovation and development of environmentally-friendly products and services. Through our RM5 billion commitment for green financing by 2025 in the form of lending, capital markets advisory and fundraising, and investment activities, we hope to play a bigger role in supporting the growth of the green economy by encouraging our customers to adopt more sustainable business practices,” he said.
He added that the group has in place a clear roadmap in promoting sustainable and responsible financing within the group, by ensuring that its risk management processes integrate environmental, social and governance (ESG) considerations.
“On the other hand, we are also mindful of the stage of the development of the country and the need to be practical in our adoption of ESG considerations. Our role within the community goes beyond simply advocating commitment to green financing, but also ensuring socio economic well-being of our communities.”
