BUSINESS

RHB TO ALLOCATE MORE FOR SUSTAINABLE FINANCIAL SERVICES NEXT YEAR

23/11/2023 02:07 PM

PETALING JAYA, Nov 23 (Bernama) -- RHB Banking Group is planning a higher allocation for sustainable financial services after its aim to mobilise RM20 billion for the segment by 2026 reached a 99 per cent target.

Group managing director and group chief executive officer Mohd Rashid Mohamad said the current commitment, made in 2022, will hit 100 per cent by this year, and the group is now assessing its next target beyond 2024.

“Internally, we have deliberated and discussed. We will be sharing with the public our next target by next year,” he told reporters at its inaugural nationwide engagement sessions themed “Empowering Change: Charting a Sustainable Energy Future for Business Growth” in partnership with Tenaga Nasional Bhd (TNB).

Mohd Rashid said the commitment was realised via RHB Sustainable Financing Programme (SFP), which offered a range of sustainable financial services for SMEs investing in green and energy-efficient solutions.

“Recognising SMEs’ distinct needs and challenges, we continuously engage with them to provide advisory support, promote awareness and understanding to manage sustainability and climate risks,” he said. 

RHB and TNB will expand the engagement sessions nationwide with SMEs to benefit from TNB’s technical expertise in energy efficiency and renewable energy solutions, as well as access RHB’s suite of green financing solutions, Mohd Rashid said.

Meanwhile, TNB chief operating officer Datuk Megat Jalaluddin Megat Hassan said it has curated a roadmap to success, tailored specifically for SMEs.

“We are offering a suite of green solutions designed to meet environmental, social and governance (ESG) requirements and a cost-saving opportunity to catapult businesses into a future of sustainable success,” he said.

On August 28, 2023, RHB and TNB formalised a collaborative agreement at the Energy Transition Conference 2023 to collectively advocate and promote sustainable business practices to SMEs and to bring awareness how ESG and sustainability requirements could impact business viability.

Among the solutions highlighted were GSPARX’s solar rooftop solutions and energy efficiency products by TNBES, TNBX, and electric vehicle chargers by Chargepoint, a Tenaga switchgear partner, and RHB’s green financing schemes and insurance packages.

-- BERNAMA

 

 

 

 


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