CIMB in world's first ringgit-denominated SLD deal with StanChart

Asia's Tech News Daily

© Provided by New Straits Times

KUALA LUMPUR: CIMB Bank Bhd has entered into a sustainability-linked derivative (SLD) transaction with Standard Chartered Malaysia in the form of an interest rate swap with a notional value of RM2.45 billion for hedging purposes. 

Based on publicly available data and the latest data compiled by the International Swaps and Derivatives Association (ISDA) as at January 2021, this landmark deal is the world’s first ringgit-denominated SLD transaction and to date Asia’s largest environmental, social and governance (ESG) linked derivative transaction by notional value. 

Following the transaction, CIMB said it was keen to work with clients to execute more innovative treasury and derivative transactions with ESG-related pricing components or utilisation of proceeds such as swaps, forwards and options involving cross currency, interest rate, commodity, or foreign exchange transactions. 

CIMB has also been active in offering loan and financing products and bonds and sukuk that are sustainable or sustainability-linked. 

Group chief executive officer (CEO) Datuk Abdul Rahman Ahmad said the transaction was a testament to the expertise of the bank’s treasury and markets team and its ambition to be an Asean sustainability leader by 2024. 

“This transaction demonstrates our very real commitment towards achieving our commitments to mobilise RM30 billion in sustainable finance by 2024, achieve net zero scope 1 and 2 GHG emissions by 2030, and Net Zero GHG emissions by 2050, including financed emissions. 

“As a financial intermediary, we play a critical role in channelling financing and capital in ways that will support a just transition towards a net zero economy and greater social equity. In collaboration with our clients and partners, we look forward to introducing more innovative offerings such as this SLD in the sustainable finance space,” he said in a statement today.

Standard Chartered Malaysia managing director and CEO Abrar A. Anwar said the attitude towards ESG issues had transformed significantly but many companies were still facing challenges when it comes to incorporating sustainability. 

“Despite their intention to transition to net zero by 2050, 67 per cent of corporates have yet to take any action due to the lack of capital. 

“As a key intermediary in the financial system, Standard Chartered is making big strides in the roll- out of new ESG products within our derivatives offering in Asia such as commodity, forex and credit – a proposition that is unique to us and offered globally. 

“It isn’t just about helping clients. We’re looking inwards and making our own commitments. 

“To that effect, Standard Chartered is working towards reaching net zero carbon emissions from our financing by 2050, as part of our strategic commitment to put the world on a sustainable path to a zero-carbon economy,” he said.

CIMB said the SLD offering extended the bank’s track record as an early mover in sustainability-linked instruments in the Asean region. 

CIMB has been actively providing sustainable lending and financing products and was one of the first banks in the country to launch sustainability-linked loans for corporate clients in 2020 with an allocation of RM3 billion through 2024.

© New Straits Times Press (M) Bhd

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Tom Holland and Zendaya receive sage relationship advice from THIS Spider-Man co star

© Provided by Pinkvilla Now that Spider-Man co-stars Tom Holland and Zendaya are somewhat publicly dating, the world is free to ship them and fawn over the new young couple. ... Read more »

Fox aired 'emergency alert' URL that took viewers to 'Let's Go Brandon' website

Apparently, the crew over at Fox NFL Sunday are big fans of the Philadelphia Eagles. © Fox NFL Sunday. Fox NFL Sunday airs ‘emergency alert’ The news outlet aired a ... Read more »

Iran nuclear deal talks resume, chair feels 'positive'

VIENNA (AP) — Negotiators in Vienna resumed talks Monday over reviving Iran’s 2015 nuclear deal with world powers, with the United States taking part at arms length as in previous ... Read more »

Biden addresses nation on omicron variant as some travel bans to US take effect

With the COVID-19 omicron variant sending shockwaves around the world, President Joe Biden addressed the nation surrounding the new variant as new travel restrictions to the U.S. took effect on ... Read more »

UK to offer booster shots to all adults, just 3 months after their second dose

All adults in the United Kingdom will be able to get their booster Covid-19 vaccine doses three months after their second shot, the government indicated on Monday, in a dramatic ... Read more »

Why Is My Car Making a Clicking Noise When Starting?

The most common reason for that rapid clicking noise when your car fails to start is a dead battery. However, a single click could mean a malfunctioning starter motor, or ... Read more »

Was ist denn da los?: Ski-Weltmeisterin beendet Karriere Knall auf Fall

© Bereitgestellt von Blick Norway’s Kristina Riis Johannessen competes during the first run of an alpine ski, World Cup women’s slalom in Levi, Finland, Saturday, Nov. 20, 2021. (AP Photo/Alessandro ... Read more »

Jung, grün, höchste Schweizerin

Nur vier Jahre nach ihrem Einzug in den Nationalrat ist Irène Kälin schon Präsidentin. Man dürfe ruhig merken, dass nun eine junge Mutter am Ruder sei, sagt die 34-Jährige. © ... Read more »

Lebensgefährliche Flucht via Ärmelkanal: Aus diesen fünf Gründen wollen Migranten unbedingt nach Grossbritannien

Grossbritannien und Frankreich geben sich gegenseitig die Schuld am Tod der 27 Menschen im Ärmelkanal. Doch so einfach ist es nicht. © DUKAS 24/11/2021. Dungeness, United Kingdom. Migrants who have ... Read more »

Hossam Bahgat: Egyptian rights activist found guilty over tweet

© Provided by Al Jazeera Since 2016, Bahgat has been banned from traveling abroad and has had his personal assets frozen in connection with a separate, decade-long criminal investigation [File: ... Read more »

Halo Infinite data miners might have leaked the dates of the next seasonal event, ‘Tactical Ops'

© Provided by Dot Esports The next seasonal event in Halo Infinite might have been leaked by data miners, as first reported by Gamepur. A new seasonal event is coming ... Read more »

India will help African nations fight Omicron, supply vaccine, drugs: MEA

© Provided by Zee News New Delhi: As Africa grapples with new coronavirus variant Omicron, India on Monday (November 29) said it stands ready to support the affected countries in ... Read more »

Pregnant woman in Bihar given HIV+ve blood; sacked technician blames test kit

© Provided by Hindustan Times The Bihar woman who was administered the infected blood and her child born on 5 November haven’t tested positive yet. Officials said they will conduct ... Read more »

Jussie Smollett arrives at Chicago courthouse for jury selection in hate hoax trial

Jussie Smollett, surrounded by family including sister Jurnee, arrived Monday morning at the Leighton Criminal Courthouse in Chicago, where he stands trial for allegedly faking a hate crime in January ... Read more »

Monday evening UK news briefing: Booster vaccine programme for all adults to fight omicron variant

Your evening briefing from The Telegraph Evening briefing: Today's essential headlines 'Trial of the century' | Ghislaine Maxwell is set to come face-to-face with her accusers in a New York ... Read more »

Cyber Monday camera deals: Price drops from Sony, Fujifilm, Nikon and more

There are some great Cyber Monday camera deals this year, with the likes of Nikon, Fujifilm and Olympus cutting prices on their top models. Right now, our top deal is ... Read more »

10 Cyber Monday deals you'll want to buy right now

© Gotham Steel Screen Shot 2021-11-29 at 11.01.13 AM.png Stores have rolled straight from Black Friday into Cyber Monday, and we’re loving the sales we see. Below you’ll find 10 ... Read more »

'We've dealt with variants before, it's not new' - Prof Karim on Omicron variant

© Provided by CapeTalk Top epidemiologist Prof Salim Abdool Karim says South Africa is well-equipped to deal with the Omicron variant of Covid-19 Health Minister Joe Phaahla held a briefing ... Read more »

Experts concerned with slow vaccine uptake amid calls to make it mandatory

© Kevin Brandt/Eyewitness News FILE: Vaccine recipients queue at Karl Bremer Hospital’s vaccination site in Cape Town on 17 May 2021. JOHANNESBURG – With government’s task team now considering whether ... Read more »

SAHRC: Those arguing against vaccine mandates have no legal leg to stand on

© Picture: Abigail Javier/EWN A vaccinator preparing the COVID-19 vaccine. JOHANNESBURG – The South African Human Rights Commission (SAHRC) on Monday said citizens who were still arguing about the constitutionality ... Read more »

COVID: What we know about the omicron variant

© Provided by dw.com Variant B.1.1.529 is currently spreading in South Africa This article was originally published on November 26, 2021. It was last updated November 29, 2021. Where has ... Read more »

Former bankers — including one who quit Goldman Sachs to play Axie Infinity — are reportedly launching a $1.5 billion crypto fund

© INA FASSBENDER/AFP via Getty Images The photo shows physical imitations of cryptocurrency. INA FASSBENDER/AFP via Getty Images INA FASSBENDER/AFP via Getty Images Former Citigroup executive Matt Zhang is launching ... Read more »

Charlotte Tilbury's sell-out Mystery Box makes its return in Cyber Monday sale

Hey all you beauty fanatics! Charlotte Tilbury has one EPIC sale happening online right now that you won’t want to miss out on! Beauty fans can treat themselves and their ... Read more »

Brazil striker Hulk and pregnant 'niece' announce new baby's adorable name

Brazilian footballer Hulk has confirmed he and his ex-wife’s niece will call their new child Zaya in a post showing the pretty brunette’s baby bump. The Atletico Mineiro striker risked ... Read more »

Ireland donates 500,000 Covid-19 Janssen vaccines to Nigeria

© Shutterstock A CONSIGNMENT OF 500,000 Covid-19 vaccines donated by Ireland have arrived in Nigeria.  This is the first consignment of vaccines donated by Ireland through the Covax facility, which aims ... Read more »

These refurbished iPhones are an absolute steal for Cyber Monday

© Expert Reviews These refurbished iPhones are an absolute steal for Cyber Monday Mobile phones The best smartphones aren’t cheap, and that counts doubly for Apple handsets. Even refurbished iPhones ... Read more »

The One Show's Angela Scanlon shows off baby bump ahead of welcoming second child

Angela Scanlon shared sweet new snaps on Instagram to showcase her blossoming baby bump. The One Show host announced she was pregnant with her second child last month. In the ... Read more »

Twitter market value jumps more than $4 billion on news Jack Dorsey is stepping down as CEO; gains since erased

© MARCO BELLO/AFP via Getty Images Jack Dorsey. MARCO BELLO/AFP via Getty Images Twitter stock jumped as much as 11% on news CEO Jack Dorsey is stepping down. Parag Agrawal, ... Read more »

Michael Saylor's MicroStrategy buys another 7,002 bitcoins for $414 million — keeping its promise to keep adding the crypto

© Joe Raedle/Getty Images MicroStrategy CEO Michael Saylor Joe Raedle/Getty Images MicroStrategy bought 7,002 bitcoins worth $414.1 million in the past two months, bringing its total holdings to 121,044.  It ... Read more »

Amazon Fire tablets get big price cuts for Cyber Monday and Black Friday

© Provided by Pocket-lint Amazon Fire tablet deals are go Save £40 on Fire HD 10 25 per cent on Fire HD 8 photo 2 (Pocket-lint) – There are now ... Read more »

Gordon Ramsay called an 'emotional wreck' after daughter Tilly got booted off Strictly Come Dancing

Celebrity chef Gordon Ramsay has been called an “emotional wreck” after daughter Tilly was booted off Strictly Come Dancing. Tilly Ramsay and dance partner Nikita Kuzmin were the latest pair ... Read more »

RIP Virgil Abloh: Idris Elba, Hailey Bieber, Kanye West, Kylie Jenner & more pay tribute to fashion genius

© Provided by Pinkvilla The week started off on a horrific note as the news of designer, creative genius and fashion enthusiast Virgil Abloh’s passing came. Virgil, founder of Off-White ... Read more »

Happily Ever After: Newlywed Kundali Bhagya actor Sanjay Gagnani shares wedding PICS with Poonam Preet Bhatia

© Provided by Pinkvilla 28 November was an immensely special day in the TV industry as Kundali Bhagya’s Sanjay Gagnani and his longtime sweetheart Poonam Preet Bhatia got hitched and ... Read more »

We brought light to people's houses: UP energy minister

© Provided by Hindustan Times UP energy minister Shrikant Sharma on Monday said people used to face blackouts because of rampant corruption, commission and bad governance during previous governments in ... Read more »

George Clooney says Hollywood is ‘moving in the right direction' as he gets real about the shift in culture

© Provided by Pinkvilla Hollywood veteran and icon George Clooney recently spoke to The Times and opened up about how things have changed in Hollywood culture over time. While chatting ... Read more »

Tom Holland gearing up to RETURN for a Spider Man trilogy after No Way Home, confirms Sony producer

© Provided by Pinkvilla It seems like Tom Holland will grace our screens as Spider-Man for many movies to come! While it wasn’t previously stated whether Holland would return for ... Read more »

PICS: Agastya Nanda gets papped as he sweats it out at the gym on Monday evening

Amitabh Bachchan’s grandson Agastya Nanda is one of the most popular star kids in the tinsel town of Bollywood. Although Agastya has not made his debut in the showbiz yet, ... Read more »

IIT-Mumbai alumnus Parag Agrawal is Twitter CEO after Dorsey exit

© Provided by The Times of India WASHINGTON: Yet another major global tech company will be headed by an executive of Indian-origin. Parag Agrawal, an IIT Bombay alumnus and chief ... Read more »

Govt spending in health expenditure rose to 40.8% in 2017-18, significant jump from 28.6% in 2013-14: NHA

© Provided by The Times of India NEW DELHI: The share of government spending in total health expenditure increased significantly to 40.8% in 2017-18, up from 32.4% the previous year, ... Read more »

China's Xi pledges an additional 1 billion Covid vaccine doses for Africa

© Provided by Hindustan Times Chinese President Xi Jinping (on the screen) delivers his speech during the China-Africa Cooperation (FOCAC) meeting in Dakar, Senegal, on Monday. (AFP) President Xi Jinping ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic