Kuala lumpur: Sustainable finance is becoming increasingly mainstream in the banking sector, as rising demand for electric vehicles (EVs), green homes, and other low-carbon investments prompts financial institutions to broaden their financing and investment offerings. The trend is particularly evident in Southeast Asia's EV market.

According to BERNAMA News Agency, the International Energy Agency (IEA) reported that electric car sales in Malaysia doubled in 2025, while Indonesia's sales more than doubled year-on-year. This reflects a rising consumer adoption of lower-carbon transport and growing demand for financing solutions that support the energy transition.

For the Maybank Group, this shift has reinforced its confidence to significantly expand its sustainable finance ambitions for the next five years. Group chief sustainability officer, Datuk Shahril Azuar Jimin, stated that the bank has committed to mobilize RM300 billion (US$73 billion) in sustainable finance across ASEAN between 2026 and 2030, with implementation remaining on track less than six months after the program was launched.

Shahril highlighted that the stronger-than-expected demand was evident in the group's previous five-year commitment, under which it mobilized RM176 billion in sustainable finance by the end of 2025, more than doubling its original RM80 billion target announced in 2021. He emphasized that banks are more than happy to support sustainability and sustainable financing.

In Malaysia, the Energy Transition and Water Transformation Ministry increased the residential quota under the Net Energy Metering (NEM) Rakyat program by 100 megawatts in May 2025 after the existing allocation was fully subscribed. This enables more households to install rooftop solar photovoltaic systems.

Shahril noted that changing demand has also broadened the scope of sustainable finance beyond traditional green projects. Maybank's Sustainable Product Framework now covers transition finance, EV financing, green homes, green mortgages, social finance, and green bonds. Relationship managers are now expected to guide clients through climate and sustainability issues.

He explained that Maybank has invested heavily in capacity-building programs and sustainability certification for relationship managers, strengthening the group's confidence in its ability to deliver the expanded commitment.

The broader trend is also reflected in Indonesia, where Maybank Indonesia mobilized about Rp17 trillion in sustainable financing under the group's previous 2021-2025 commitment. Maybank Indonesia's head of sustainability, Maria Triffany Fransiska, mentioned that implementation of the new commitment was still in its early stages but progressing well, with transportation emerging as one of the strongest sustainable financing segments.

Maria stated that Maybank Indonesia's sustainable finance portfolio also includes financing for affordable housing and low-cost electric two-wheelers for lower-income communities. Beyond financing, Maybank is expanding its sustainable banking ecosystem, with Indonesia being the first market within the group to introduce its environmental, social, and governance (ESG) deposit product.

She added that Maybank Indonesia is also preparing to develop green bond initiatives as part of the group's broader sustainable finance strategy.