Intercontinental Specialty Fats Joins CIMB’s Landmark Sustainability Treasury Programme
CIMB Bank has announced the onboarding of Intercontinental Specialty Fats Sdn Bhd as its latest client in the bank’s Sustainability-Linked Treasury Programme.
This marks the first time a Japanese multinational corporation has participated in the Programme in Malaysia, as Intercontinental Specialty Fats is a wholly-owned subsidiary of The Nisshin OilliO Group, a leading global provider of edible oils. Under the Programme, Intercontinental Specialty Fats is eligible for a rebate linked to its achievement of pre-agreed Sustainability Performance Targets, which are independently verified.
The Programme provides an incentive for clients to embed environmental, social, and governance considerations into their treasury risk management solutions and shift from one-time transactions to a recurring flow program framework.
Jefferi Hashim, Head of ESG Advisory and Solutions at CIMB Group, states that the Programme is a demonstration of CIMB’s commitment to supporting clients in advancing their ESG agendas through sustainable finance solutions.
Meanwhile, the CEO of Intercontinental Specialty Fats, Takashi Ishigami, said that integrating ESG considerations into the company’s strategy is a way to create long-term value and ensure business sustainability.
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