Public Bank, Sunway Property sign MoU to promote end-financing for green projects

PETALING JAYA: Public Bank Bhd and Sunway Integrated Properties Sdn Bhd (Sunway Property) have signed a memorandum of understanding (MoU) to collaborate on property financing for green and sustainable development projects.

Public Bank managing director and CEO Tan Sri Dr Tay Ah Lek said with this MoU, customers who purchase green-certified properties for both residential and non-residential properties developed by Sunway Property will get to enjoy Public Bank’s special sustainable financing package.

“Through this special package, customers will get to enjoy preferential pricing, fast lane approval and a financing option for customers who wish to purchase eco-friendly and energy efficient appliances, fixtures and fittings to further enhance the sustainability elements of their properties.

“In line with Public Bank’s commitment to be carbon neutral by the year 2030 and net-zero by 2050, the bank will be mobilising RM40 billion in ESG-friendly financing by 2025, including making green building financing more accessible to customers,“ Tay said in a statement today.

As the leading property financier in the country with a strong market share of 20.5% and 33.8% respectively in residential and non-residential properties financing as of June 2022, Public Bank is well positioned to encourage green property ownership in the country.

Sunway Property, in alignment with the Sunway Group, has set five ESG goals with 19 targets to fully support Malaysia’s transition to a low-carbon, climate-resilient economy by 2030, with sights set on net zero by 2050.

The first of these goals is to drive the transformation of Sunway Property’s developments into low-carbon, sustainable cities and aims to reduce emissions, achieve a set of resource efficiency targets, divert waste away from landfills and certify industrial and construction sites amongst others, by 2030.