CIMB launches GHG Advisory for SMEs and mid-tier companies to accelerate decarbonisation and strengthen long-term business resilience

KUALA LUMPUR, June 22 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) today launched its Greenhouse Gas (“GHG”) Advisory Service (“the Advisory Service”), a new offering under the multiple award-winning GreenBizReady™ proposition. The Advisory Service is designed to help small and medium enterprises (“SMEs”) and mid-tier companies (“MTCs”) kickstart and advance in their decarbonisation journey, while meeting regulatory and supply chain requirements, in a practical, businessfocused manner.

Malaysia's National Sustainability Reporting Framework (“NSRF”) mandates all listed and non-listed companies with annual revenue of RM2 billion and above to adopt climaterelated disclosures, including Scope 3 emissions from their supply chains (e.g. SMEs). Additionally, the Companies Commission of Malaysia’s (“SSM”) recently published a Consultative Document, proposing mandatory GHG Scope 1 and 2 disclosure requirements for non-listed companies, including those with annual revenue exceeding RM15 million. As such, regardless of whether SMEs are required to publicly disclose their emissions, those within the supply chains of larger corporates will be asked to provide emissions data, to enable the corporate to meet their own disclosure requirements.