Alam Flora gets ‘Gold’ for impact assessment from MARC Ratings

ALAM Flora Sdn Bhd has received a “Gold” impact assessment from Malaysian Rating Corp Bhd (MARC Ratings) for its green financing framework. 

The framework will finance green projects falling under five categories: Renewable energy (waste-to-energy), sustainable waste management, sustainable water management and projects, climate change adaptation and environmentally sustainable management of living natural resources and land use. 

In a statement, MARC Ratings said it is of the opinion that the framework is aligned with the core components of a number of related yardsticks. 

These include the Green Bond Principles (GBP) of the International Capital Markets Association (ICMA), Asean Green Bond Standards (GBS) of the Asean Capital Markets Forum (ACMF), Sustainable and Responsible Investment (SRI) Sukuk Framework of the Securities Commission Malaysia (SC), Green Loan Principles (GLP) of the Loan Market Association (LMA), Asia Pacific Loan Market Association (APLMA), and Loan Syndications and Trading Association (LSTA). 

The gold rating assessment is supported by MARC Ratings’ qualitative assessment on the issuer’s approach to identifying and managing the environmental and social risks associated with the eligible project categories. 

The categories have the potential to provide clear environmental and/or social benefits which have been assessed and clearly described in the framework. The assessment is also supported by Alam Flora’s overall effectiveness at managing and embedding sustainability in its operations, the statement added. 

Alam Flora has been operating for 26 years and is one of Malaysia’s top environmental management firms that is committed to helping the community by managing and reducing waste with minimal environmental impact. It is a subsidiary of Malakoff Corp Bhd, an independent power producer listed on the main market of Bursa Malaysia. — TMR 

  • This article first appeared in The Malaysian Reserve weekly print edition