MARC Solutions has assigned a “Gold” Impact Assessment to Johor Corporation’s (JCorp) Sustainable Finance Framework. The framework outlines JCorp’s approach to undertaking sustainability finance transactions to deliver environmental and social (E&S) benefits.
JCorp, established in 1968 under the Johor State Economic Development Corporation Enactment, is the state’s principal development institution and Malaysia’s largest state economic development corporation. Through its subsidiaries, JCorp operates across four core sectors, namely Wellness and Healthcare, Real Estate and Infrastructure, Agribusiness, and Food and Restaurant; together with its latest vertical, Patient Capital. The group’s framework serves as a forward-looking stewardship tool to guide its subsidiaries in aligning existing and prospective sustainable projects with JCorp’s overarching sustainability commitments. Funds will be raised progressively as eligible projects are identified.
Proceeds from sustainability finance transactions under the framework will be utilised for expenditures in the following Eligible Categories:
• Green Buildings/Cities/Infrastructure
• Energy Efficiency
• Pollution Prevention and Control
• Terrestrial and Aquatic Biodiversity Conservation
• Climate Change Adaptation
• Sustainable Water and Wastewater Management
• Renewable Energy
• Clean Transportation
• Environmentally Sustainable Management of Living Natural Resources and Land Use
• Eco-efficient and/or Circular Economy Adapted Products/ Processes
• Affordable Housing
• Food Security and Sustainable Food Systems
• Socioeconomic Advancement and Empowerment
• Employment Generation
• Access to Essential Services
MARC Solutions is of the view that the framework is aligned with the core components of applicable guidelines, frameworks, and principles issued by the Securities Commission Malaysia, ASEAN Capital Markets Forum, and the International Capital Market Association, among others.
The Gold assessment reflects the view that the intended use of proceeds under the framework would support relevant E&S benefits consistent with 13 of the 17 United Nations Sustainable Development Goals.