Sustainability

We recognize that the climate emergency is real. Global warming affects us, our clients’ businesses, and the communities we serve. In response, governments in our key markets—Malaysia, Indonesia, Singapore, and Thailand—are planning their transition to low-carbon economies. We are committed to working with peers and stakeholders to take a precautionary approach to climate impacts, with an immediate focus on raising awareness and driving action on climate resilience in the financial sector.

As an official supporter of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), we aim to fully align our climate-related disclosures with TCFD recommendations by 2024.

This section, structured around the TCFD pillars of Governance, Strategy, Risk Management, and Metrics & Targets, represents CIMB’s first comprehensive effort to provide TCFD-aligned disclosures.

Through these disclosures, we seek to give stakeholders, especially investors and clients, timely and decision-useful information on our climate risks and performance. It also reinforces our commitment to achieve net-zero Scope 1 and 2 GHG emissions in our operations by 2030 and overall net-zero GHG emissions, including Scope 3 and financed emissions, by 2050.

Commitments

We are committed to carbon neutrality and integrating sustainability into our core business. As part of the Race to Zero, we aim for net-zero Scope 1 and 2 GHG emissions by 2030 and overall net-zero emissions, including Scope 3 and financed emissions, by 2050.

As a signatory to the Collective Commitment to Climate Action, we align our portfolios to support a low-carbon, climate-resilient economy that limits global warming to well below 2°C, striving for 1.5°C. We mobilize our products, services, and partnerships to help drive the economic transition needed for climate neutrality.

We are the first ASEAN bank to join the UN-convened Net-Zero Banking Alliance (NZBA), part of the Glasgow Financial Alliance for Net Zero (GFANZ). Through the Alliance, which represents banks covering over 40% of global assets, we commit to aligning our lending and investment portfolios with net-zero emissions by 2050 along a 1.5°C pathway, guided by internationally consistent frameworks and peer learning.

Governance

In the context of climate governance, the Board oversees climate-related matters, primarily supported by the GSGC, a Board sub-committee established in 2021. Additional support comes from the BRCC on climate risk management, the AC on internal controls, and the GNRC on Board-level climate competency.

The Group Sustainability Council (GSC) assists the Group Chief Sustainability Officer in developing and implementing CIMB’s sustainability priorities in line with the Board, GSGC, or Group CEO’s direction. It monitors sustainability risks, ensures policies and controls are in place, and reports to the Group Transformation Committee (GTC). The GSC also governs assets under CIMB’s sustainability bonds.

At the operational level, the Group Sustainability Division drives climate initiatives across Business Units and Enablers. For example, the Group Administration and Property Management team manages CIMB’s operational climate impact and facility vulnerability to physical risks, reducing energy, water, waste, and GHG emissions with support from Group Sustainability.

Strategy

As a business, our operations face climate-related risks, especially physical risks like extreme flooding. As a financial institution, our greater exposure is indirect, mainly through client transactions across sectors and regions. Assessing these risks helps protect our clients, business, and the broader economy, and guides our strategies and risk appetite.

CIMB Group’s commitment to sustainability, including climate change, is reflected in KPIs for the CEO, top management, and all divisions. Linking remuneration to these KPIs ensures leadership and teams stay focused on achieving our sustainability goals. A summary of the CEO and top management KPIs is provided below:

Name of Executives	Incentive Type	KPIs
Chief Executive Officers Country CEOs for Malaysia, Indonesia, Singapore, Thailand and Cambodia as follow: Dato’ Abdul Rahman Ahmad Group CEO / CEO CIMB Bank Lani Darmawan President Director & CEO, CIMB Niaga Victor Lee Meng Teck CEO, CIMB Singapore Paul Wong Chee Kin, President & CEO, CIMB Thai Bun Yin CEO, CIMB Cambodia	Monetary	Emission reduction KPI to reduce Scope 1 and Scope 2 emissions in 2022 compared against our 2019 baseline.
Group Risk - Chief Risk Officer Vera Handajani	Monetary	Emission reduction Implementation of a flood risk assessment pilot on Malaysia’s mortgage book
Business Unit Managers Group Consumer Banking Group Wholesale Banking Group Commercial Banking	Monetary	Emission reduction Green financing mobilised for retail and non-retail clients.

Name of Executives

Incentive Type

KPIs

Chief Executive Officers

Country CEOs for Malaysia, Indonesia, Singapore, Thailand and Cambodia as follow:

Dato’ Abdul Rahman Ahmad

Group CEO / CEO CIMB Bank

Lani Darmawan

President Director & CEO, CIMB Niaga

Victor Lee Meng Teck

CEO, CIMB Singapore

Paul Wong Chee Kin,

President & CEO, CIMB Thai

Bun Yin

CEO, CIMB Cambodia

Monetary

Emission reduction

KPI to reduce Scope 1 and Scope 2 emissions in 2022 compared against our 2019 baseline.

Group Risk - Chief Risk Officer

Vera Handajani

Monetary

Emission reduction

Implementation of a flood risk assessment pilot on Malaysia’s mortgage book

Business Unit Managers

Group Consumer Banking

Group Wholesale Banking

Group Commercial Banking

Monetary

Emission reduction

Green financing mobilised for retail and non-retail clients.

Risk Management

Paris Agreement Capital Transition Assessment (PACTA)

Climate scenario analysis helps us understand and assess our exposure to climate-related risks. In 2021, we launched our first transition risk pilot using the Paris Agreement Capital Transition Assessment (PACTA) for Banks tool.

PACTA for Banks evaluates whether our financial flows support a low-carbon economy by projecting portfolio alignment over five years, based on clients’ production plans and physical assets.

We used the Asset-Based Company Dataset (ABCD) from 2DII’s provider, Asset Resolution, which contains five-year production forecasts for ~40,000 companies worldwide. CIMB corporate clients in Malaysia and Singapore were matched to the ABCD by outstanding financing as of December 31, 2020, with match rates of 100% for Oil & Gas, 98% for Power, and 7% for Automotive.

Figure 1: Pilot Scope and Parameters

Through our discussions with internal stakeholders, as well as with selected clients, we have uncovered a number of analysis limitations and data gaps. For instance, results for the Automotive (Car Manufacturing) sector cannot be taken to represent our overall sector alignment, since data for only 7% of our exposure was represented on the ABCD. As such, this section should be read as the documenting of our pilot study, rather than a conclusive and concrete plan for the pilot sectors.

The table below provides an overview of the production trajectory alignment of selected portfolios in 2025:

Figure 2: Overview of production trajectory alignment of selected portfolios in 2025

This pilot lays the groundwork for future portfolio-level scenario analysis. We plan to use PACTA for Banks results as a risk management tool to monitor portfolio alignment, guide sector strategies and risk appetite, support client engagement, and inform climate target-setting, stress testing, and other strategic planning.

Scope 3 Financed Emissions

In 2021, we strengthened our climate pledge by targeting net-zero greenhouse gas (GHG) emissions by 2050. As a financial institution, most of our emissions come from Scope 3, primarily “financed emissions.” Under the GHG Protocol (Category 15), these arise from client financing and investments attributable to us. Achieving net zero in Scope 3 means our exposure must be offset by equivalent carbon sequestration across our portfolio.

To achieve this target, we began analyzing on-balance sheet financing across our Wholesale, Commercial, and Consumer segments. Nine carbon-intensive sectors were selected: agriculture, aluminum, cement, coal, real estate, iron and steel, oil and gas, power generation, and transport.

Our analysis covers clients representing the majority of exposure, accounting for 19%, 40%, and 35% of the Group’s gross loans in FY19, 20, and 21. Coverage was lower in 2021, as many clients had not yet provided audited financial statements.

Financed emissions were then estimated using the PCAF (Partnership for Carbon Accounting Financials) methodology, which standardizes GHG assessment for loans. Calculations use total assets as the denominator and principal outstanding as the attribution metric, including only upstream production and manufacturing segments.

While we prioritize verified client-reported emissions, gaps remain in ASEAN reporting. Missing data were estimated using revenue-based proxies. PCAF data quality scores indicate confidence levels in our estimates. We continue to work with clients to improve GHG reporting, and our baseline will be updated as data, methodologies, and climate science evolve.

Figure 3: Scope 3 Financed Emissions for FY2021

Figure 4: Scope 3 Financed Emissions for FY2020

Figure 5: Scope 3 Financed Emissions for FY2019

Metrics and Targets

Our Operational Scope 1 and Scope 2 GHG Emissions

At CIMB, operating responsibly goes beyond ethics—it also delivers financial value by integrating sustainability across our operations. As a purpose-driven bank, we are committed to reducing our own emissions in line with the 1.5°C target of the Paris Agreement. This commitment is reflected in our goal to achieve net-zero Scope 1 and 2 GHG emissions in our operations by 2030. Our GHG emissions data are shown in the table below:

Scope (tCO2e)	2019	2020	2021	2022
Direct GHG emissions (Scope 1)	4,997.9	2,195.8	5,023.9	2,620.0
Indirect GHG emissions (Scope 2) – Location-based	89,836.0	81,754.5	66,941.0	71,416.2
Indirect GHG emissions (Scope 2) – Market-based	89,836.0	81,754.5	66,941.0	71,416.2
Data Coverage (as % of total employee)	98.8%	98.8%	98.5%	98.2%

Notably, Scope 2 emissions calculated using both location-based and market-based methods were similar through 2022. In nearly all our operational locations, we source electricity from national utility providers, which dominate the power supply in our operating countries. Up to 2022, we have not purchased Renewable Energy Certificates (RECs) or subscribed to Green Electricity Tariffs (GETs). More details are available in our Sustainability Report.

Our Financed Emissions

We have begun to collate and report some climate-related data and targets, as shown in the initial dashboard below. Notwithstanding, we are cognizant of the necessity to build out our dashboard with more decision-useful data points for our stakeholders, especially our investors and clients.

CIMB has set its first 2030 climate targets for two sectors: thermal coal mining and cement. This makes us the first Malaysian bank and the second ASEAN bank to publish sector-specific targets aligned with globally recognized 1.5°C climate scenarios.

¹ SBTi (2022). Cement Science Based Target Setting Guidance. Available at: Cement sector guidance - Science Based Targets

² IEA (2021). Net Zero by 2050: A Roadmap for the Global Energy Sector. Available at: Net Zero by 2050 – Analysis – IEA

³ CIMB Internal Sector Codes, which are further mapped against International Standard Industrial Classification (ISIC), were used for target setting.

⁴ Within the value chain included, the target is only applicable to manufacturing or production of cement.

⁵ Within the value chain included, the target is only applicable to clients that generate >5% revenues from thermal coal mining

To stay on track, CIMB will announce client engagement and decarbonization plans for the thermal coal mining and cement sectors by September 2023. The Group also plans to introduce additional sectoral climate targets and transition plans by 2024, covering power generation (including coal-fired plants), transport, iron and steel, real estate, oil and gas, aluminum, and agriculture.

We prioritize lifecycle thinking to reduce environmental and social impacts, recognizing that supply chain practices can significantly affect costs and could be detrimental to our reputation as a sustainable bank. We continuously assess suppliers, procurement services, and environmental, social, and ethical aspects. Over the next 3–5 years, we will enhance sustainable supply chain practices, including responsible sourcing and supporting supplier welfare and development.

Responsible Procurement

Considering that our procurement mission stands for more than short-term gains, we work with suppliers to go beyond legal compliance and encourage continuous improvement. All new suppliers must disclose their non-involvement in:

Child labor, forced labor, and human trafficking
Environmental harm, including illegal logging, uncontrolled land clearing by fire, or natural resource development within UNESCO World Heritage sites without prior approval
Transactions linked to the financing of or participation in arms and ammunition

We also encourage all new suppliers to follow national and international principles of sustainable development covering human rights, labor, the environment, and anti-corruption. These disclosures are integrated into our supplier due diligence and tender processes. Internally, we partner with Group Human Resources to raise awareness among staff on procurement ethics and preserve the integrity of our procurement practices.

Vendor Code of Conduct

All new suppliers who wish to work or collaborate with CIMB are required to register on the Group Electronic Procurement System (GEPS). GEPS serves as the primary entry point to CIMB’s procurement process.

As part of onboarding, suppliers will receive orientation on Environmental, Ethical, and Social (EES) guidelines under the Vendor Code of Conduct (VCOC), helping them understand CIMB’s sustainability commitments and policies on anti-corruption, human rights, and environmental protection.

Through GEPS, suppliers can also access confidential reporting and communication channels to raise concerns about suspected unethical, illegal, or improper conduct. All reports are handled with strict confidentiality.

Our people are at the heart of our growth. Guided by shared values, they catalyze change, solve complex challenges, and push boundaries for the greater good. Together, they shape an inclusive #TeamCIMB culture built on belonging, respect, and pride—fueling strong performance.

We recognize the importance of equipping our people with the skills they need to navigate today’s and emerging risks and opportunities. This includes empowering them with future-ready capabilities and providing clear horizontal and vertical paths for career growth and learning.

Our Values

Deliver impact together the right way

Enabling Talent

Passion

Integrity & Accountability

Collaboration

Customer Centricity

Enabling Talent

We enable and develop our people.

We want to be the best place for the best talent.

Passion

We pursue excellence in all we do and deliver beyond the ordinary.

Integrity & Accountability

We act in an ethical and trustworthy manner.

We take ownership of all of our actions.

Collaboration

We commit to team over individual success.

CIMB’s success is my success.

Customer Centricity

We put customers at the heart of everything we do.

We always do right by them.

Occupational Safety and Health (OSH)

We comply with all relevant national and local health and safety regulations. Our Occupational Safety and Health (OSH) Policy covers employees, on-site contractors, vendors, and customers, providing guidance for identifying, monitoring, and managing OSH risks. Endorsed by the Board, the policy assigns responsibility to the Group CEO and Board to set targets and ensure resources and processes are in place for implementation.

The OSH team conducts regular risk assessments, supported by regional units and OSH Committees made up of management and employee representatives. Committees carry out quarterly inspections, track safety performance, and oversee incident investigations and reporting. Findings are shared with relevant units, which implement improvements based on auditor recommendations, ensuring continuous enhancement of workplace safety and health standards.

CIMB Workplace Wellness

We promote work-life flexibility to enhance workplace wellness and help individuals achieve quality of life and personal effectiveness. Workplace Wellness@CIMB is a comprehensive work-life initiative to support our people with their professional and personal aspirations. It covers all aspects of welfare and wellbeing – physical, mental, financial and spiritual – grouped under four key pillars as below.

Diversity and Inclusion

At CIMB, we believe diversity and inclusion are essential to building a sustainable, high-performing organization. Our employees are our greatest assets, and the uniqueness of each individual drives our company forward.

Diversity brings creative solutions and better outcomes for our customers, business partners, stakeholders, and the wider community, reflecting differences in ethnicity, religion, gender, nationality, and age.

In building a diverse and inclusive organization, Our approach is guided by the Group Employee Diversity & Inclusion Policy, anchored on the following principles: 

1. Equal Opportunities and Fair Treatment

We are committed to policies, standards, and practices that ensure equality of opportunity for employment, development, and career progression based on merit and objective criteria. Diversity is respected in all forms, including gender, age, background, beliefs, ethnicity, skills, and abilities, while protecting the dignity of every employee.

2. Inclusiveness, Dignity and Respect

We strive to maintain a workplace that promotes wellbeing, respect, and dignity. This is achieved by creating an environment free from harassment, bullying, sexual harassment, racism, discrimination, victimization, and other disrespectful behavior, addressing any complaints of misconduct, and encouraging respect for others. Such acts are not tolerated and violate the standards set in CIMB Group’s Code of Ethics and Conduct.

Zero Tolerance for Discrimination and Harassment

Observing and upholding proper conduct is central to CIMB Group, ensuring professionalism, integrity, and ethical behavior in all business and professional activities. In line with Group policies, all employees are expected to act professionally and treat colleagues with respect.

CIMB Group’s Code of Ethics and Conduct prohibits discrimination, bullying, intimidation, or harassment of any kind, including sexual harassment. Acts of violence or threats by employees against anyone on Group premises or in connection with Group business are strictly forbidden.

Sexual harassment is recognized as misconduct that undermines the employment relationship. No employee, regardless of gender, should be subjected to unsolicited or unwelcome sexual advances or conduct, whether verbal or physical. CIMB Group’s Sexual Harassment Policy ensures appropriate disciplinary action in any such cases.

All employees are expected to contribute to a safe and respectful workplace, and to report any misconduct. The Group is committed to addressing issues raised through its whistleblowing channel or grievance settlement process. Employees who violate the Code of Ethics and Conduct or related policies are subject to disciplinary action, up to and including termination.

Succession Planning

We believe that effective talent management is key to business continuity, productivity, performance, and competitiveness. Succession planning for all mission-critical roles remains a priority. We continuously seek to upskill high-potential talent, maintain motivation, and foster trust and loyalty by supporting career growth and satisfaction.

Digital Skills Training

We recognize the importance of continuously enhancing the skills of both our current and future workforce. As part of this strategy, we established the CIMB 3D (Digital, Data, and Design) Academy. While its immediate goal is to strengthen the digital capabilities of all CIMBians across functions, its long-term aim is to develop an agile, innovative, and tech-savvy workforce that drives the Group’s digital transformation.

The 3D Academy’s competency framework is built on six pillars: digital awareness, agile and entrepreneurial thinking, future communication skills, risk and governance, human-centered design, and data science and analytics.

View Group Sustainability Website

Sustainability Reports

2024 Sustainability Report

2023 Sustainability Report

2022 Sustainability Report

View More Reports

We are the new era of digital banking.

Join one of the world's top digital banks and take control of your finances.

We are the new era of digital banking.

Join one of the world's top digital banks and take control of your finances.

Still have questions? We got you.

Privacy Notice

Read privacy notice

CIMB Bank PH champions sustainability through financial inclusion—making banking more accessible and empowering customers to make smart money decisions toward long-term prosperity.

We champion sustainability through financial inclusion, making banking more accessible and empowering customers to make smart financial decisions for long-term prosperity.

CIMB Group Initiatives

Our Values

Sustainability Reports

We are the new era of digital banking.

We are the new era of digital banking.

Still have questions? We got you.

Privacy Notice

FAQs

Help Center

Urgent Support

You are about to enter a third party website & CIMB Group's Privacy Policy will cease to apply.