KUALA LUMPUR: HSBC Bank Malaysia together with Kerjaya Property Sdn Bhd, a subsidiary of Kerjaya Prospek Property Bhd, have successfully completed their first green loan for a property developer.

       The green loan will help Kerjaya Prospek Property facilitate the funding of its integrated development known as ‘Bloomsvale’ located in Old Klang Road, Kuala Lumpur. This green funding is also key to support the company’s transition towards its net zero journey.

       By working with HSBC Malaysia and executing its first green loan that is aligned with the Green Loan Principles (GLP), an international standard recognised in the global syndicated loan markets, it is able to ensure the greening of its development and supply chain and to additionally enable long-term growth while reducing climate impact.

       The growth and development of communities have a large impact on our natural environment, and the building and construction sectors are one of the key sectors that are able to alleviate and address climate change.

       By developing buildings that are ‘green’ it provides a catalyst and opportunity to save energy, water, and reduce carbon emissions, in addition to educating, creating jobs, strengthening communities and improving overall health and well-being.

       Currently the Bloomsvale Project has achieved a Platinum rating under GreenRE’s provisional certification for the residential component while its commercial building component is expected to obtain a Gold rating.

       Datin Toh Siew Chuon, executive chairperson, Kerjaya Prospek Property said: “This green loan marks a significant milestone for us in our sustainability journey. It is a testament to our commitment to include more sustainable developments to our portfolio and to be more responsible in our development and construction practices.

       “We are optimistic about embracing green initiatives and you will continue to see us launching more green developments in the near future. We are glad to partner with HSBC Malaysia as they understood our needs and requirements and were able to structure our first green loan for us.”

       Karel Doshi, country head of corporate, commercial banking, HSBC Malaysia said: “As more Malaysians, especially the younger generation advocate for green buildings and sustainable cities, we are seeing a trend where more developers and construction sector players are focusing on ESG elements in their projects and operations to future proof their business.

       “There is an inherent need to ensure responsible and sustainable construction and development so that our environment is minimally impacted and continues to be protected. By partnering with Kerjaya Prospek Property, we are taking concrete steps to help them ensure this. HSBC’s credentials and leadership in sustainability is key to supporting Malaysian corporates as they transition to net zero.”

       HSBC Group aspires to be a leader in sustainable financing, managing and shaping the shift to a low-carbon world. The Group is growing its transaction finance portfolio to help customers to reduce emissions and HSBC’s ambition is to provide between US$750bil (RM3.2 trillion) and US$1 trillion (RM4.23 trillion) in financing and investment to support this initiative.