RHB Banking Group increases sustainable finance target to RM50 billion by 2026 from RM20 billion

KUALA LUMPUR: The RHB Banking Group has increased its sustainable finance target to RM50 billion by 2026 from RM20 billion previously.

“The Group’s Net Zero commitment acknowledges the financial sector’s crucial role in directing capital towards sustainable and low-carbon activities. So there is the financing needed by certain sectors of the country. So we are here, the bank is the fund,” he said. “RHB’s strategy to achieve Net Zero by 2050 focuses on reducing the financed emissions arising from these five high-impact sectors.

It also leverages on the business and investment opportunities arising from the NETR’s initiatives and enablers. “The focus is a little bit more on SMEs because we know that they are keys and we need to grow and bring them and educate them in terms of the need of the transition finance. So we are not discounting totally for those who are transitioning or who don’t have the transition plan or ESG,” he said.

“The Group also mobilises financing through BNM’s Low Carbon Transition Facility for SMEs, mobilising RM258.80 million in FY2023,” he added.This involves engaging existing clients across the five high-impact sectors to catalyse their decarbonisation journeys.

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