CIMB Group Holdings Berhad , Malaysia wants to reach a sustainable finance target of $70.59 billion (RM 300 billion) by 2030. The goal is to help pay for green projects across ASEAN, including Malaysia.
Since 2021, CIMB has been working on its sustainable finance plans. In 2021, the target was $7.06 billion (RM 30 billion). Later, it was raised to $23.53 billion (RM 100 billion) for the period from 2021 to 2024.
The new target means CIMB wants to give more loans for projects that help the environment. The bank says the money will support energy transition ideas, clean energy, and other national and regional plans. These include the ASEAN Power Grid, the National Energy Transition Roadmap, and the Johor-Singapore Special Economic Zone.
CIMB says it will guide money to businesses that help cut carbon emissions and protect nature. The bank wants to support businesses that focus on clean energy, low emissions, and social projects.
Malaysia has other small renewable energy ideas moving ahead too. In Johor, there is a small solar park with about 12 megawatts (MW) of capacity. It supplies power to local industrial sites. This small solar project runs with help from local companies and farmers who lease their land.
In Sabah, a pilot project is setting up micro-hydro plants in remote areas. These micro-hydro units are small, about 50 to 200 kilowatts each. They help local villages that are not linked to the main grid.
There are also new rooftop solar projects for schools in Selangor. A few schools now run small rooftop solar units that generate between 50 to 200 kilowatts each. Malaysia’s energy plans look at big power plants and small local ideas too. Some farmers use bioenergy from palm waste. Small biogas plants in Pahang use palm oil waste to generate about 1 to 2 MW of power for local areas.
