Renewable Energy Malaysia's location in the equatorial zone provides high solar potential, and solar has become the cheapest form of electricity in many countries. As a result, there is increasing adoption of solar in households and government support for renewable energy. BIMB has invested in solar farms and players, financing the installation of solar and net energy metering equipment. Impact & Achievements: Waste Management In 2022, Malaysia’s waste is expected to reach nearly 15 million tonnes, growing at a compound annual growth rate of almost 2%. The recycling rate in Malaysia in 2020 was estimated to be 36.67%, lower than neighbouring countries such as Singapore, Taiwan, Korea, and Thailand. In response, BIMB continues to pursue investment and acquisition opportunities in the waste management sector. Impact & Achievements: For more information, see page 89 <commercial banking>. For more information, see page 90 <commercial banking>. 700.9 597.9 603.4 307.2 Renewable Energy Assets (RM million) Waste Management Assets (RM million) 2022 2022 2021 2021 16.2% 94.6% Growth Growth 3 Supporting SMEs Through Financing In 2022, we continued to support our SME customers who were still affected by the lingering impacts of COVID-19. We understood that many of them were hesitant to approach financial institutions for assistance or were simply unaware of the support available to them. To help our SME customers, our SME Banking division leveraged on funds provided by Bank Negara Malaysia (BNM), such as the Targeted Relief & Recovery Facility (TRRF), SME Penjana Tourism Facility (PTF), SME Automation & Digitalisation Facility (ADF), and All Economic Sectors Facility (AES). Through these funds, we were able to provide financial assistance to our SME customers who were struggling to recover from the economic downturn caused by the pandemic. Additionally, we introduced the SME Smart Eco Financing Program (ECO). This programme caters to the needs of our SME customers who were looking to move towards sustainability. ECO provided financial support to our SME customers who were committed to adopting sustainable and environmentally-friendly practices in their businesses. Through these efforts, we at BIMB were able to continue supporting our SME customers during a challenging time and help them navigate the uncertainties brought about by the ongoing pandemic. 4 Promoting Financial Inclusion Through BIMB Investment, we have made significant strides in ESG finance. Recently, they were involved in 12 Sukuk distribution deals on the Joint Lead Manager (JLM) platform, aimed at promoting sustainable investments in the region. Our efforts have been recognised with the following awards and accolades: Won 4 accolades at the prestigious The Asset Triple A Award ceremony The Best SRI Sukuk award as the Principal Adviser, Lead Arranger, Lead Manager, and Shariah Adviser ESG Asset Manager of the Year for the third time (for BIMB Investment) Integrated Report 2022 118 Economic Impact
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