KUALA LUMPUR: Public Bank and Gamuda Land have signed a memorandum of understanding (MoU) on property financing specifically for green and sustainable development projects.
Gamuda Land chief executive officer Ngan Chee Meng said the creation of Public Bank’s special sustainable financing package is aimed at promoting end-financing for Gamuda Land’s green and sustainable development projects.
Public Bank deputy chief executive officer Datuk Chang Kat Kiam and Gamuda Land chief operating officer Chu Wai Lune were also present at the signing.
Qualifying projects include residential and commercial development with sustainability recognition from Green Building Index (GBI), GreenRE or other accreditation bodies.
“Public Bank Group has committed to achieving carbon neutrality by the year 2030 and net-zero by 2050. The group is also committed to mobilising RM40 billion in ESG-friendly financing by 2025, including the financing of green-certified buildings,” Public Bank managing director and chief executive officer Tan Sri Dr Tay Ah Lek said during the signing ceremony.
Public Bank's special sustainable financing package for end-finance projects from Gamuda Land includes favourable pricing, fast lane approval, as well as financing options for customers to purchase eco-friendly appliances, fixtures and fittings.
Ngan said Gamuda Land’s sustainability commitment through its Gamuda Green Plan (GGP), a framework with tangible targets driven along environment, social and governance (ESG) dimensions for the next five years and beyond.
Gamuda Land aims to reduce direct and indirect greenhouse gas emission intensity by 30% in 2025 and 45% by 2030.
“Moving forward, all of Gamuda Land’s development locally and internationally will be green building certified. As such, it is indeed timely for us to work together with like-minded partners like Public Bank, who believe in pushing the envelope with the green agenda,” Ngan said.
It is Ngan’s belief that the collaboration would not only make green financing more accessible but also facilitate a greener future.