‘Global politics may change but the principles of nature do not’: Asean banks still hungry for transition-related deals, say CSOs

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As a global climate banking alliance softened its stance on mandatory targets, some chief sustainability officers of Southeast Asian banks think it is time to 'come back to earth' on transition pathways and reporting requirements.

Even though Maybank launched its Transition Finance Framework two years ago and has since updated it twice, it has yet to see asset owners embrace it.“Banks are more than happy to provide [transition] financing, but we need to shift the focus to asset owners and what they need to do so that they do not scale back on their climate commitments,” said Shahril.

Maybank and CIMB are part of the NZBA’s 14-member steering group, which includes banks from the United Kingdom, Australia and the United Arab Emirates.“(Maybank has) seen firsthand the North American and more recently Japanese banks exiting the NZBA, but we see the regional banks staying put – we are not scaling back on these strategic commitments,” said Shahril.

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Article Details

Author / Journalist: Samantha Ho

Category: EconomyBusiness

Markets: SingaporeAustraliaJapanMalaysiaUnited Arab EmiratesUnited Kingdom

Topics: Transition finance Financing Carbon capture Chief sustainability officer Decarbonisation Sustainable finance Climate risk use and storage Investment Emissions

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-21 @ 02:23:00 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1724 words

Reading Time: 10 minutes read

Sentences: 49 lines

Sentence Length: 36 words per sentence (average)

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Copyright Owner: © Eco-Business

News ID: 28079210

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