Pelaburan Hartanah Berhad Attains Gold Sustainability Rating from RAM Sustainability

SHAH ALAM,  30 APRIL 2024 -  Pelaburan Hartanah Berhad (PHB), the operational arm of Yayasan Amanah Hartanah Bumiputera (YAHB), today announced its attainment of a Gold3 Sustainability Rating from RAM Sustainability Sdn Bhd (RAM Sustainability) highlighting PHB’s exemplary sustainability performance in the property investment sector.

The rating positions PHB among the top half of RAM Sustainability’s overall rating portfolio, and demonstrates PHB’s commitment to integrating Environmental, Social and Governance (ESG) standards into its property investment and operational practices while pursuing financial results for its stakeholders.

"Our strong sustainability performance demonstrates the success of our consistent ESG efforts, laying the groundwork for our real estate portfolio to perform in the long run," said Group Managing Director/Chief Executive Officer of PHB, Mohamad Damshal Awang Damit.

"As ESG becomes more important for managing finances and risks, PHB strives to strike a good balance between ESG adoption and the positive economic values it brings for our tenants and Amanah Hartanah Bumiputera (AHB) investors,” he added.

Chief Executive Officer of RAM Sustainability, Gladys Chua Pei Rong, stated, "The G3 Sustainability Rating awarded to PHB reflects its strong governance and social performance, as demonstrated by an independent board, comprehensive risk and sustainability frameworks as well as the customer-centric approach in its operations. The organization's practical measures of anti-bribery and corruption are evident throughout its operations. As a government-linked property investment entity with a significant Bumiputera mandate, RAM Sustainability applauds PHB's proactive approach to ESG, which is essential for PHB to effectively carry out its mission,” she said.

PHB practices close collaborations with its property managers and adopts integrated Occupational Safety & Health Administration management, backed by ISO certifications. With a vision to enhance environmental stewardship, PHB aims to elevate its portfolio of green buildings to 50 percent from 28 percent over the next seven years, underpinned by its ESG policy and framework.

Mohamad Damshal added, "The sustainability rating exercise by RAM Sustainability provides a baseline for PHB to strategize its ESG efforts moving forward. Over the next three years, we plan to close the Scope 3 monitoring and supply chain management requirements gaps and improve the comprehensiveness of our data collection. We anticipate that this will place PHB in the top 10 percent of its peer group and consequently positive financial and operational outcomes," he said.

Scope 3 emissions encompass indirect emissions occurring in the company's value chain, which are not accounted for in Scope 1 and Scope 2.

Net zero emissions involves assessing greenhouse gas emissions through three distinct scopes:

Scope 1:
This encompasses emissions directly produced by an organization's owned or controlled sources, such as fuel combustion in vehicles.

Scope 2:
These are emissions indirectly caused by a company's activities, originating from the production of energy it purchases and utilizes. For instance, emissions from electricity generation used in buildings fall under this category.

Scope 3: This category includes emissions not directly produced by the company but are a result of its actions up and down its value chain. For example, emissions associated with the procurement, usage and disposal of products from suppliers. Scope 3 emissions encompass all sources beyond the boundaries of scopes 1 and 2.

Posted 30 April 2024 In Media Release 2024

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