CIMB PARTNERS WILD ASIA TO ACCELERATE SUSTAINABLE PALM OIL FOR SMALLHOLDERS

KUALA LUMPUR, March 24 (Bernama) -- CIMB Bank Berhad (“CIMB” or “the Bank”) has entered into a Memorandum of Understanding (“MoU”) with Wild Asia Sdn Bhd (“Wild Asia”) to drive the transition toward more sustainable practices in the palm oil sector. The partnership aims to strengthen supply chain transparency and uphold sustainability standards by working closely with CIMB’s clients and industry stakeholders through the Wild Asia’s Small Producer Inclusivity & Resilience Alliance Programme ("SPIRAL" or the “Programme”). By facilitating credible certification for mills, their supply chains and independent producers, which include smallholders, small growers and estates, it aims to drive greater accountability and responsible sourcing practices across the industry.

Through this Programme, independent producers will be able to gain better market access and improve their livelihoods while supporting the broader transition to nature-positive sustainable palm oil production. This can be achieved by reducing carbon intensity, measuring and managing greenhouse gas emissions, and adopting regenerative agricultural practices to enhance yields with minimal environmental impact.