Kuala Lumpur, Malaysia – 24 September 2024 – Export-Import Bank of Malaysia (“EXIM Bank Malaysia”) proudly announces the launch of its new EXIM Green Global Initiative, designed to support and accelerate environmental sustainability by Malaysian entrepreneurs in the export sector. The initiative aims to mobilise up to RM1.5 billion by 2027 in sustainable financing to foster environmental stewardship by funding impactful green projects.

The EXIM Green Global Initiative also entails three transformative initiatives that collectively support companies in aligning with global sustainability standards in international markets. These initiatives aim to enhance resilience against climate change, while simultaneously delivering significant positive impacts to businesses involved.

The first core initiative is the EXIM Carbon Calculation Advisory and Support (“CCAS”) that offers the Bank’s customers specialised one-year complimentary assistance to accurately measure and manage their carbon footprint. By providing tailored advice and advanced tools, EXIM Bank is committed to empowering companies in reducing emissions, while aligning with global sustainability standards.

In the second initiative, under Green Global Initiative the Bank is providing an incentive of up to RM10,000 to cover financing-related fees when clients apply for green financing with EXIM Bank in their transition efforts toward greener, more sustainable practices. This is intended to assist in investments in energy efficiency and the adoption of sustainable technologies and practices, thereby accelerating the transition to more environmentally friendly operations within the export sector.

The third focus area addresses a critical environmental concern by supporting the greening of palm oil exports, which is one of the country’s major export with a value of RM94.95 billion in revenue in 2023, through the application of biochar. Biochar is an organic material that’s used to revitalise soil health and help the environment by storing carbon. This innovative approach aims to reduce the carbon footprint of palm oil production by incorporating biochar into agricultural practices, and contribute towards reduction in Methane, a harmful greenhouse gas. This initiative, in collaboration with the non-profit organisation Wild Asia, seeks to enhance soil health, boost carbon sequestration, and promote more sustainable palm oil supply chains

Minister of Investment, Trade and Industry (MITI), Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, stated: “With all development financial institutions and commercial banks moving in the same ‘eco-direction’, I am confident we will have the required critical mass to achieve the NIMP’s Push for Net Zero. I am pleased that EXIM Bank is proactively helping to build that Net Zero ecosystem through its financing programmes to support the nation’s goal of having a decarbonised and sustainable economy. EXIM Bank’s Green Global Initiative is a clear reflection of our shared commitment to ensuring that Malaysian businesses can remain competitive in the face of evolving green global standards.”

EXIM Bank Chairman, Dato’ Charon Wardini Mokhzani said: “As sustainability becomes an essential factor in international trade, our role extends beyond facilitating exports – we are now focused on empowering businesses to thrive in an environmentally conscious global market.  Today’s launch of the EXIM Bank Green Global Initiative underscore our commitment to providing comprehensive support for Malaysian exporters offering practical solutions to reduce environmental impact, build resilience, and comply with global regulations.”

“Our new EXIM Green Global Initiative represents the Bank’s significant commitment to driving environmental change and supporting businesses in their sustainability journey,” said Nurbayu Kasim Chang, Acting President and CEO of EXIM Bank. “By integrating carbon calculation support and providing financial incentives under our Green Global Initiative, we are taking a comprehensive approach to addressing the multifaceted challenges of sustainability in the export sector.”

In addition, EXIM Bank has also offered the government’s Exporters’ Development Incentive Scheme (SIP2), which provides a 1.5% subsidy on financing rate for Malaysian exporters and entrepreneurs to encourage businesses to seize international opportunities. To date, EXIM Bank has offered RM215 million for 37 companies, who have benefited from this scheme.

For more information about the EXIM Green Global Initiative, and how to apply, please visit www.exim.com.my or contact the Bank at 603-2601 2000.

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About EXIM Bank of Malaysia Berhad

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.  EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.exim.com.my.