Malakoff’s sustainable finance framework assigned ‘Gold’ impact assessment by MARC Ratings
LUMPUR: Malakoff Corporation Bhd has been assigned a “Gold” impact assessment by Malaysian Rating Corporation Bhd (MARC) Ratings for its sustainable finance framework related to the Asean Sustainability SRI Sukuk Murabahah programmes.
In a statement yesterday, Malakoff said that as part of its environmental, social, and governance roadmap, this framework is significant in advancing the transition to a low-carbon economy by facilitating the utilisation of proceeds for the development of new green and renewable projects.
It said the “Gold” assessment highlights the considerable impact of the use of proceeds from the financing raised, with evident social and environmental benefits directly supporting 12 of the 17 United Nations Sustainable Development Goals (UN SDGs).
“The (sustainable finance) framework aims to provide guidelines for the company’s future fundraising through sustainable debt instruments such as green, social or sustainability bonds or sukuk, and green, social or sustainability loans or financing,” it said.
Managing director and group chief executive officer Anwar Syahrin Abdul Ajib said this recognition serves as a testament to the company’s steadfast dedication towards expanding its renewable energy portfolio and fostering strategic partnerships.
“This recognition not only reaffirms our commitment but also acts as a catalyst, motivating us to contribute meaningfully to the nation’s goal of achieving net-zero emissions as early as 2050 while ensuring the preservation of Malaysia’s energy security,” he said.
According to Malakoff, the funds raised through these instruments will be used to promote the shift toward a more inclusive, resourceefficient economy, in line with the UN SDGs and the circular economy concept.
The framework demonstrates alignment with significant standards, including the Sustainable and Responsible Investment Sukuk Framework of the Securities Commission Malaysia, Green Bond Standards, Social Bond Standards and Sustainability Bond Standards of the Asean Capital Markets Forum, as well as guidelines from the International Capital Market Association, it added.