Sunway Property has signed a Memorandum of Understanding (MOU) with Standard Chartered Malaysia to offer preferential rates to customers who purchase the former’s certified green properties, in line with its drive to advance sustainable communities.
The MOU follows the Master Community Developer’s enhancement of its Sunway Design and Development Architecture (SDDA) guiding philosophy which infuses Sustainability, Innovation, Health and Wellness as well as Lifestyle & New Experiences elements into its developments to encourage its communities to live healthier, sustainable, and holistic lifestyles. The launch of Sunway Property Pals+ also provides owners, sub-sale owners and tenants with care and lifestyle support.
Under the collaboration, customers 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.
“In line with Malaysia’s commitment to becoming a carbon-neutral nation by 2050, Sunway Group has pledged to achieve net zero carbon emissions by 2050 and published a Green Building Policy that outlines our 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,” said Chong Sau Min, Senior Executive Director, Property Development, Central Region, Sunway Property.
“We are pleased to collaborate with a like-minded partner like Sunway Property given our strong commitment towards advancing sustainability in Malaysia. The rising demand for green financing represents a broad opportunity for financial institutions like us to empower more people to transition to green solutions while simultaneously contributing to our 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,” said Mak Joon Nien, Chief Executive Officer at Standard Chartered Malaysia.
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, Standard Chartered has announced targets to reach net-zero carbon emissions from its financing by 2050 and actively promote sustainable finance across its markets. The Bank is also mobilising USD300 billion in green and transition finance to support its clients’ transition to net zero.
For more details on Green Mortgage please visit Green Mortgage – Standard Chartered Malaysia (sc.com) and Sustainable Fixed Deposit – Standard Chartered Malaysia (sc.com) for more information on Sustainable Fixed Deposit.