Green Financing
Alam Flora Sdn Bhd (“AFSB”) has developed the Green Financing Framework. The Green Financing Framework is developed in line with the Securities Commission Malaysia (“SC”) SRI Sukuk Framework, Green Loan Principles (“GLP”) of the Loan Market Association (“LMA”) and ASEAN Capital Markets Forum (“ACMF”)’s ASEAN Green Bond Standards based on the International Capital Markets Association (“ICMA”)’s Green Bond Principles.
The Green Financing Framework covers the core components as follows :-
- 1. Utilization of Proceeds
- 2. Process for Project Evaluation and Selection
- 3. Management of Proceeds
- 4. Reporting
MARC Rating Berhad (“MARC”) has assigned a AA/Stable rating to AFSB RM700mil ASEAN Green SRI Sukuk Programme. AFSB intends to issue the ASEAN Green SRI Sukuk Programme, with the aim of financing projects and assets of the concession and non-concession business that contributes towards a more inclusive, resource-efficient economy that is aligned to United Nations Sustainable Development Goals (“UN SDG”) and Circular Economy Concept. MARC has assigned a “Gold” Impact Assessment to AFSB’s proposed ASEAN Green SRI Sukuk Murabahah programme based on their review of the relevant documentation and assessment as per MARC’s Impact Bond Assessment (IBA) methodology.
Original Allocation of AFSB’s ASEAN Green SRI Sukuk Murabahah of RM700 million in Nominal Value to the Eligible Projects/Assets
Actual Utilisation of AFSB’s ASEAN Green SRI Sukuk Murabahah of RM700 million in Nominal Value to the Eligible Projects/Assets
Environmental Benefits for Eligible Projects/Assets for year 2023
- Approximate 43,000 units of mobile garbage bin (120L) were purchased, to strengthen the efforts to have effective waste management and improve living conditions of concession areas.
- In 2023, the concession waste collected in Pahang, Kuala Lumpur & Putrajaya was 1,142,600 tonnes, equivalent to 3,130 tonnes per day.
Eligible Projects/Assets
Concession Eligible Projects/Assets
Environmental projects/assets encompasses waste collection and public cleansing activities.
Non-Concession Eligible Projects/Assets –
Environmental projects/assets encompasses waste processing and solutions, integrated facilities management and recycling activities such as Port Reception Facilities, Sustainable Facility Eco-Park Centre, Integrated Eco-Recovery Complex and any potential projects or assets.