RHB Raises Sustainable Financing Target To RM90 Bln By 2027
KUALA LUMPUR, Feb 19 (Bernama) -- RHB Banking Group has set a new target of RM90 billion for sustainable financial services (SFS) by 2027 from its earlier RM50 billion target by 2026.
Group managing director and group chief executive officer Datuk Mohd Rashid Mohamad said embedding sustainable practices has become a business imperative.
“The future of business lies in its ability to transition towards sustainable practices, and as a financial services group, we are committed to being a catalyst for that change.
“Having already achieved approximately 85 per cent of our RM50 billion sustainable financial services target, we see a clear and growing demand for capital that enables real transition,” he said in a statement.
Mohd Rashid said that by raising its target to RM90 billion, RHB is doubling down on its commitment to empower businesses, especially small and medium enterprises, to accelerate their shift towards low-carbon practices. “The RM90 billion commitment is a key aspect of our broader strategy to achieve Net Zero by 2050, with a strong focus on transition financing and green project investments,” he added.
He explained that RHB is driving impact through three strategic pillars - expanding sustainable financing solutions; strengthening partnerships and industry collaboration; and enhancing environmental, social and governance (ESG). He also said that as part of its efforts to expand sustainable financing solutions, RHB is introducing targeted initiatives to support businesses in adopting greener practices.
“This includes Malaysia’s first low carbon transition facility (LCTF) portfolio guarantee, designed to enhance access to financing for businesses adopting green initiatives. The group has also introduced a RM1 billion sustainable trade finance programme to support renewable energy and energy efficiency projects,” he added.
-- BERNAMA