KUALA LUMPUR, Nov 23 (Bernama) — CIMB Group Holdings Berhad (“CIMB” or “the Group”) has taken a significant step within the global banking industry by formalising its 2030 climate target for its palm oil sector portfolio focusing on sustainable palm oil production. Concurrently, the Group also continues to amplify its commitment to decarbonisation, establishing a target for its power portfolio, emphasising a transition towards cleaner, renewable energy sources. These commitments are an extension to last year’s milestone announcement of Net Zero targets for its thermal coal mining and cement portfolios in pursuit of achieving its overarching 2050 Net Zero commitments.
In line with these initiatives, the Group has also released a comprehensive whitepaper on its decarbonisation plans that meticulously outlines sector-specific pathways and immediate plans for the four key sectors that represent around half of the Group’s current emissions.