PETALING JAYA: Sunway Property has inked a memorandum of understanding (MoU) with Standard Chartered Malaysia (StanChart Malaysia) to offer preferential rates to customers who purchase the developer’s certified “green properties”, which is in line with its drive to advance sustainable communities.
The MoU follows the developer’s enhancement of its Sunway Design and Development Architecture (SDDA) guiding philosophy which infuses sustainability, innovation, health and wellness into its developments.
Under the collaboration, cus-tomers can apply for the bank’s green mortgage financing solution which covers projects that are rated “gold” or “platinum”, according to the Green Building Index, GreenRE and Building and BCA Green Mark ratings.
Sunway Property central region property development senior executive director Chong Sau Min said the group has pledged to achieve net zero carbon emissions by 2050 and published a Green Building Policy that outlines its commitment to ensure all new buildings completed by 2025 onwards will be green-certified.
“We have accelerated our drive to deliver sustainable communities by enhancing our SDDA, and have launched Sunway Property Pals+ this year. Like Standard Chartered, Sunway remains committed to advancing sustainable social and economic development through our businesses, operations and communities.
“With this partnership, we look forward to growing sustainably and responsibly together while addressing the challenges of a fast-urbanising market,” he said in a statement.
Meanwhile, StanChart Malaysia CEO Mak Joon Nien said the rising demand for green financing represents a broad opportunity for financial institutions to empower more people to transition to green solutions while simultaneously contributing to its own targets.
“In return, the insights that we gain from their financing decisions are crucial to developing new solutions to meet the market’s sustainability needs,” he said.
The product is the latest to be rolled out by the bank to spur more action and involvement in sustainability development. Earlier this year, the bank also launched Sustainable Fixed Deposits in Malaysia which references clients’ funds against assets and projects aligned to the United Nations’ Sustainable Development Goals as deemed eligible according to the bank’s Green and Sustainable Product Framework. The Sustainable Fixed Deposits is available to retail individuals and business clients in Malaysia.
At the group level, the bank has announced targets to reach net zero carbon emissions from its financing by 2050 and actively promote sustainable finance across its markets. It is also mobilising US$300 billion (RM1.33 trillion) in green and transition finance to support its clients’ transition to net zero.