Kuala Lumpur: CIMB Bank Berhad (‘CIMB’ or ‘the Bank’) has signed a Memorandum of Understanding (‘MoU’) with Wild Asia Sdn Bhd (‘Wild Asia’) to advance sustainable practices within the palm oil industry. The agreement focuses on improving supply chain transparency and maintaining sustainability standards by engaging with CIMB’s clients and industry stakeholders through Wild Asia’s Small Producer Inclusivity and Resilience Alliance Programme (“SPIRAL” or the ‘Programme’). The initiative aims to provide credible certification to mills, their supply chains, and independent producers, including smallholders, small growers, and estates, fostering greater accountability and responsible sourcing practices.

According to BERNAMA News Agency, the SPIRAL Programme is designed to offer independent producers enhanced market access and improved livelihoods while contributing to the broader transition towards sustainable palm oil production. The Programme encourages the reduction of carbon intensity, the measurement and management of greenhouse gas emissions, and the adoption of regenerative agricultural practices to increase yields with minimal environmental impact.