MARC Solutions has assigned a “Gold” Impact Assessment to TH Properties Sdn Bhd’s (THP) Sustainable Finance Framework. The framework sets forth the guiding principles for THP’s issuance of sustainable financing instruments for eligible projects that contribute towards environmental and social benefits.
Established in 1980, THP is a property development company wholly owned by Lembaga Tabung Haji. THP is principally involved in property development, construction, as well as project and facilities management, with a portfolio centred on residential townships and mixed-use developments. The framework facilitates the mobilisation of sustainable financing to support socially oriented developments alongside eligible environmental initiatives, in line with the company’s long-term strategic direction and Shariah principles.
Proceeds raised from the sustainable financing transactions in relation to the framework will be utilised to finance expenditures under the following eligible categories:
- Green Buildings
- Renewable Energy
- Energy Efficiency
- Clean Transportation
- Sustainable Water and Wastewater Management
- Pollution Prevention and Control
- Climate Change Adaptation
- Affordable Housing
- Access to Essential Services
- Socioeconomic Advancement and Empowerment
We opine that the framework is aligned with the core components of the 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 MARC Solutions’ view that the utilisation of proceeds to be raised from the sustainable financing transactions in relation to the framework will provide relevant social and environmental benefits, contributing to 9 of the 17 United Nations Sustainable Development Goals.