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Business can be a force for good. The key to this is to understand what sustainability means in the context of both business and stakeholders. Aligning business priorities with stakeholders’ expectations is always the starting point. We are also constantly on the look out for opportunities to grow our sustainable business portfolio and at the same time, create net positive impact for our stakeholders. In the process, our long-term motive is to inspire and encourage our customers to embrace sustainability principles and sustainable business practices.

 

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Financial institutions are uniquely positioned to mobilize capital flows for greater good, while meeting business motives. Sustainable financing allows us to design our lending and investment portfolio, with environmental and social considerations, helping CIMB Thai to operate with resilience and deliver positive impact.

 

As part of CIMB Thai’s sustainability strategy, we recognize that the sectors we are exposed to through our financing are linked to different types and levels of social and environmental risks. Based on the exposure and more so for high risk sectors, we have institutionalized stronger controls including an enhanced sustainability due diligence process, higher authority levels for approval, and sector-specific guidance documents for our business’ relationship managers.  

 

 

Sustainable Financing Policy (SFP)

 

Sustainable Financing Policy (SFP)

 

As a responsible financial institution, it is within our remit to manage the risks and potential negative impacts arising from the activities that we finance. We assess how such risks have an impact on the environment, society and the economy in general. Our emphasis is also on devising financing solutions that aid sustainable development, and positively contribute to our economic, environmental and social impacts.

 

 

CIMB Thai’s Sustainable Financing Policy (SFP)  serves as a guidance on the mitigation of environmental and social risks in lending decisions. The policy is applicable to our Wholesale Banking business. Sustainability due diligence is required for the bank’s financing facilities with non-individual borrowers from high sustainability risks sectors. High risk cases will undergo enhance sustainability due diligence and these are the thematic issues that we look out for.

 

 

Our Exclusion List

 

Our Exclusion List

 

Beyond the sustainability due diligence process, CIMB Thai also has an Exclusion List, which includes the first-level screening criteria, where we take a zero-tolerance approach. We do not conduct business with entities that are directly linked (with evidence) to one or more of the following:

 

  • illegal activities
  • bribery and corruption
  • illegal logging or uncontrolled fire
  • terrorism
  • smuggling
  • activities impacting UNESCO World Heritage Sites
  • political campaigns (directly via government officials, politicians, political candidates or political organizations)
  • arms and munitions
  • casino and gaming

 

There are permitted exemptions and permissible credits for arms and munitions, casino and gaming and activities impacting UNESCO World Heritage Sites subject to stringent criteria and upon escalated approvals.

 

Sector Guidance

 

Sector Guidance

 

CIMB Thai has identified certain industries exposed to relatively higher sustainability risks. For these industries, we have developed sector guides to help our relationship managers apply our Sustainable Financing Policy (SFP) requirements in a clear and structured manner. CIMB Thai has specified minimum industry-specific requirements for financing clients. If the clients do not meet these minimum criteria at the point of new financing approval or review, a time-bound action plan with reasonable targets for completion are agreed with the client. We also include a list of best practices in our sector guides for selected high sustainability risk sectors to encourage and support clients in their journey to improve their sustainability performance.

 

CIMB Thai aims to advance our customers in our effort to advocate customers with sustainable banking practices. We place our customers at the heart of everything we do and we are committed in providing the highest standard of customer experience  

 

Find out more about CIMB Thai’s Treating Customers Fairly Commitments https://www.cimbthai.com/en/personal/help-support/cimb-thai-s-treating-customers-fairly-commitment.html

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