Latest news with #SRI
New Straits Times
3 days ago
- Business
- New Straits Times
Asean needs trillions in green investment to hit 2050 goals
KUALA LUMPUR: Significant investments are urgently required to accelerate Asean's journey towards sustainability, said Securities Commission (SC) chairman Datuk Mohammad Faiz Azmi. He said these investments must focus on developing green industries such as renewable and clean energy, along with building robust regional carbon markets. "It is estimated that green investments of around US$3.7 trillion to US$6.7 trillion will be required to meet the region's goal of achieving carbon neutrality by 2050. "With Southeast Asia accounting for only two per cent of global clean energy spending in 2023, there remains a significant gap between the investments required and our long-term sustainability goals. "Therefore, the ability to mobilise sufficient financing will be key to managing a successful transition," he said. Mohammad Faiz made these remarks at the opening ceremony of the Securities Industry Development Corporation (SIDC)–Capacity-building Alliance of Sustainable Investment (CASI) Sustainable and Responsible Investment (SRI) Conference here today. He noted that in the medium term, Asean is poised to be a major driver of global growth, contributing an estimated 33.7 per cent to global gross domestic product. Despite this positive outlook, he stressed the importance of building long-term resilience in the face of ongoing geopolitical and economic uncertainties. Mohammad Faiz also said businesses must increasingly pay closer attention to physical risks arising from environmental degradation and resource depletion. He emphasised that sustainable growth today requires more than addressing financial and operational issues alone. "The social component of sustainable growth is also important. It cannot be growth at all costs. Companies today are expected to be responsible corporate citizens. "This means prioritising the well-being of their employees, customers, as well as the broader community," he said. Mohammad Faiz also noted that non-compliance with safety, health and environmental standards could limit business opportunities and ultimately affect the bottom line. He said mitigating such risks requires investment. In supporting the move towards sustainability, Mohammad Faiz said the SC and its regulatory peers continue to encourage greater adoption of sustainable financing, including the development of taxonomies or criteria to identify green activities and projects. He added that decarbonisation efforts are also critical, and to guide companies in their transition to net zero, the Asean Capital Markets Forum (ACMF) has released the Asean Transition Finance Guidance. He said the aim is to help companies develop credible transition plans to access the necessary financing. Mohammad Faiz also said the ACMF is looking at developing adaptation financing guidance under the banner of mitigation co-benefit, adaptation for resilience and sustainable finance to provide clarity on suitable projects and attract private sector interest. According to him, adaptation projects like seawalls often lack returns and rely on government funds and making them bankable could attract private financing. Moving forward, he said each jurisdiction has their own schedule for adoption of the IFRS Sustainability Disclosure Standards (ISSB Standards). He added that the implementation of ISSB Standards across the region will lead to greater availability of comparable data on sustainability. "This, in turn, will inform better and more targeted policies, bringing us closer to the goal of a sustainable Asean community," he noted. Mohammad Faiz also encouraged companies to fully leverage the tools and resources made available by regulators and stakeholders. He noted that sustainable growth requires ongoing investment in capacity building and talent development. To support this, he said the SC is facilitating the formation of an association for sustainability practitioners, which will include preparers, auditors, and other related professionals. The initiative aims to assess current and future training needs, build essential skills, and establish professional standards.
The Star
25-07-2025
- Business
- The Star
Sustainable finance unlocked
As companies face growing pressure from investors, regulators and customers to embed sustainability into their core operations, access to sustainable capital has become more than just an advantage—it's a necessity. The momentum behind ESG-aligned financing is undeniable. With growing investor demand, heightened scrutiny, deeper ESG integration, tightening regulatory standards and competitive pricing for sustainable finance, there's no better time for businesses to act. A critical factor that determines whether an issuance attracts market confidence or falls short, is the framework it's built on—for corporates raising funds through green, social or sustainability-linked bond or sukuk, a credible framework aligned with local, regional and global standards forms the foundation for trust, transparency and long-term impact. Choosing the right structure Each financing instrument plays a distinct role. Green and social bonds or sukuk are used to fund eligible environmental and social projects; sustainability-linked instruments tie financing terms to ESG performance targets; and transition finance, meanwhile, supports companies in hard-to-abate sectors as they shift to lower-carbon operations. For instance, proceeds from green bonds or sukuk are earmarked for eligible projects including renewable energy, energy-efficient buildings or clean transportation—with monitoring to ensure alignment with sustainability goals. 'We support our clients to integrate sustainability into their fundraising exercises, building on their existing efforts to meet growing investor demand for responsible and values-based solutions,'says Nor Masliza. A sustainability-linked bond or sukuk, by contrast, allows for broader use of proceeds, including general business purposes. However, issuers must commit to time-bound, measurable environmental or social performance targets such as reducing carbon emissions. The profit rate of the bond or sukuk may be adjusted upward if these targets are not met, creating direct accountability. A sustainable bond or sukuk framework underpins any impactful issuance. A strong framework enables credible project evaluation, selection and reporting. It ensures clarity on how proceeds are used, monitored and ringfenced. Choosing the right framework depends on the company's sustainability strategy. Companies with a pipeline of eligible projects may opt for use-of-proceeds based framework. Where there are no clear eligible projects, a sustainability-linked framework can offer greater flexibility for the utilisation of proceeds—provided that the issuer can commit to ESG targets that are meaningful, measurable, and independently verifiable. Issuers may also adopt an umbrella framework covering both use-of-proceeds and sustainability-linked structures. These frameworks are guided by local, regional and global standards: Malaysia's Securities Commission's (SC) Sustainable and Responsible Investment Sukuk (SRI) Framework and SRI-Linked Sukuk Standards, the regional Asean Standards, and globally, International Capital Market Association's (ICMA) principles for green, social, sustainability and sustainability-linked bonds or sukuk. Post-issuance, issuers must establish robust monitoring systems and ensure transparent ongoing reporting. CIMB views sustainable finance frameworks as capital-raising tools as well as strategic levers to build long-term credibility and investor confidence. Delivering strategic value Partnering with a sustainability structuring adviser provides issuers with a crucial edge. CIMB offers end-to-end support, helping businesses develop frameworks aligned with recognised standards and market practices. A strong framework ensures alignment of a company's internal priorities—such as financial performance, business operations, social responsibility and regulatory compliance—while also addressing the expectations and requirements of external stakeholders, including investors, rating agencies, SPO providers and regulators. As CIMB Investment Bank Bhd chief executive officer Nor Masliza Sulaiman explains: 'While the adviser helps develop and structure the sustainable finance framework, the secondary-party opinion (SPO) provider serves as an independent reviewer to assess its alignment with market-recognised standards. Both roles are vital to ensuring the integrity and credibility of the issuance.' Beyond advisory services, CIMB supports clients across the entire issuance lifecycle including appointing SPO providers and managing stakeholder engagement. For broader ESG needs, CIMB also offers corporate advisory services that go beyond financing—helping clients embed ESG considerations across their business strategies. For sukuk, CIMB helps to ensure the structures are Shariah compliant with the Islamic principles. Beyond capital market instruments, CIMB also offers sustainable bilateral loan structures tailored to clients' ESG ambitions—including green loans and sustainability-linked loans designed with measurable performance targets. CIMB sees strong alignment between Shariah values and ESG objectives. Both emphasise ethical conduct, risk-sharing, and long-term value creation, making Islamic sustainable finance a natural fit for ESG-minded corporates. 'We support our clients to integrate sustainability into their fundraising exercises, building on their existing efforts to meet growing investor demand for responsible and values-based solutions,' says Nor Masliza. Real-world impact Case Spotlight: Powering Clean Energy with TNB Genco. CIMB served as sustainability structuring adviser for TNB Power Generation Sdn Bhd's RM10bil Sustainability Sukuk Wakalah Programme. The proceeds support the Nenggiri Hydroelectric Power Plant—a key project in Malaysia's renewable energy transition. CIMB also acted as principal adviser and lead arranger. CIMB was also sole principal adviser, sole lead arranger, lead manager and sole sustainability structuring adviser for UEM Olive Capital Bhd's RM7bil Sukuk Wakalah Programme. The proceeds fund renewable energy, energy efficiency, clean transportation and pollution control initiatives. CIMB acted as green financing coordinator for DayOne Data Centres' landmark RM15bil-equivalent multicurrency financing, which includes a RM7.5bil Murabahah Term Financing facility and a US$1.7bil offshore term loan. Structured under the Green Loan Principles, the proceeds will partly fund the refinancing and capital expenditure of DayOne's data centres in Johor. These facilities meet—or are expected to meet—LEED 'Gold' or higher certification by the US Green Building Council. CIMB's leadership in this space is reflected in multiple accolades in 2024 and 2025, including: > Best Bond House for Sustainable Finance in Malaysia 2024 by Alpha Southeast Asia > Best Islamic Finance Sukuk House 2024 by Alpha Southeast Asia > Best Investment Bank in Malaysia 2025 by FinanceAsia > Best DCM House in Malaysia by FinanceAsia > Sukuk Adviser of the Year, Asia Pacific 2024 by The Asset. What's next for sustainable issuance? CIMB expects continued momentum in sustainable and sustainability-linked bonds or sukuk, with new structures emerging to support transition finance, particularly in high-emission sectors like oil and gas, aviation and shipping. Emerging themes may include gender-focused, biodiversity or nature-related sukuk. 'With continually evolving investor expectations, there is a growing emphasis and demand for financing instruments that deliver real world impact. 'To maintain credibility and attract capital at scale, sustainable finance must be built on robust frameworks—with high levels of transparency, clear ESG targets and commitment to accountability,' says Nor Masliza. As ESG disclosures become the norm, access to sustainable capital—guided by the right advisor —helps businesses to transition toward a low-carbon future and strengthen investor confidence. With Asean as its home, CIMB is committed to supporting corporate clients in their ESG journey, driving sustainable progress, inclusive growth and impactful long-term development across the region. What makes a strong sustainable finance framework? > Set clear, measurable ESG targets > Align with global, regional and local standards > Establish strong monitoring and reporting systems > Obtain credible secondary-party opinion (SPO) > Ensure internal stake holder alignment
Arabian Business
22-07-2025
- Business
- Arabian Business
GEMS Education's new Dubai school partners with Alexander Johnson to support family relocations
Alexander Johnson Group has announced a partnership with the GEMS School of Research and Innovation (SRI), a new GEMS Education school opening in Dubai this August. The collaboration aims to provide a seamless transition for families relocating to Dubai by combining premium real estate services, business investment opportunities, and cutting-edge educational offerings. GEMS Education, one of the world's largest and longest established K-12 private education groups, has a 65-year record of delivering successful outcomes to more than half a million alumni. With around 200,000 students attending its 90+ schools worldwide daily, GEMS launched SRI to global headlines in January, introducing its innovative approach to learning. The school will open on 26 th August in Dubai Sports City. As the preferred real estate partner for SRI, Alexander Johnson Group will offer families personalised introductions to an exclusive selection of premium properties, alongside business investment opportunities, including hotels, commercial land, and warehousing. The partnership also includes concierge support to help families settle into their new lifestyles, with preferential access to SRI, business connections, and guidance. Alex Johnson, CEO of Alexander Johnson Group, said: 'We are thrilled to collaborate with SRI, a beacon of educational excellence in Dubai. This partnership allows us to provide families with not only a home but also a robust support system for their business needs too and importantly, access to one of the finest schools in the world. We look forward to making the transition to Dubai as smooth as possible for our clients.' Sunny Varkey, Chairman and Founder of GEMS Education, said: 'We are delighted to partner with Alexander Johnson Group. Their commitment to providing unparalleled support to families relocating to a new country aligns perfectly with our mission. With the opening of SRI – which we believe will be the finest school in the world – we offer an exceptional educational environment, and through this partnership, we ensure a comprehensive service for parents looking to settle in Dubai.' GEMS School of Research and Innovation will feature a team of exceptional educators and state-of-the-art facilities, including cutting-edge tech and AI laboratories, art and music studios capable of creating feature film-quality productions, and access to Olympic-quality sports facilities. SRI's proprietary 'Pioneer Curriculum' focuses on fostering creativity, critical thinking, and emotional intelligence, aiming to prepare students for future challenges.
Time of India
08-07-2025
- General
- Time of India
55 students transplant paddy across 1,200sqm
Panaji: Earlier this month, 55 students from two schools and a college in Mormugao rolled up their sleeves and successfully planted paddy saplings across 1,200sqm of farmland using the 'system of rice intensification' (SRI) technique. Spearheaded by the Chicalim Youth Farmers Club (CYFC), the initiative saw the participation of students from Regina Mundi High School, Navy Children High School, and MES College, Vasco. Known to produce better yield, the SRI technique also ensures efficient use of water and good soil health, said Mormugao zonal agriculture officer Nilesh Vaigankar. It involves planting younger seedlings — which have more potential for growth — in wider, grid-like spaces to avoid transplant shock and to reduce the need for constant irrigation. A key feature of the method is the use of organic fertilisers, which helps improve long term soil fertility. Rhesa D'Souza, a student of the eco club of Regina Mundi School, Chicalim, said she and her peers were happy to work in the field and learn something new. They were introduced to concepts like germination and types of paddy cultivation, and were told about the contrast between mechanised and traditional methods of farming by CYFC mentor, Fr Bolmax Pereira. South Goa MP, Capt Viriato Fernandes, also joined the students in the field and emphasised the importance of such initiatives in fostering a sense of responsibility and connection with the land. 'This was a great opportunity. Our students learnt the new skill of transplanting and are definitely going to come back for the harvest as well,' said Sneha Mayenkar, a teacher at NCS, Chicalim. The day concluded with a traditional Goan meal comprising rice kanjee (pez), pickle, and dry salted fish, which was served to all participants.
New Straits Times
05-07-2025
- Sport
- New Straits Times
Bangladesh win toss, bat in second Sri Lanka ODI
COLOMBO: Bangladesh captain Mehidy Hasan Miraz won the toss and elected to bat against Sri Lanka in the second one-day international in Colombo on Saturday. Both teams made two changes each to the side that featured in the first game at the same venue, where Sri Lanka snatched a 77-run victory. It was a surprise call by the hosts to leave out Milan Rathnayake. The all-rounder, who made his debut on Wednesday, turned the game on its head by running out the in-form Najmul Hossain Shanto. The man taking his place is spin bowling all-rounder Dunith Wellalage, which is an indication that the pitch will suit spin bowling. Injury-prone fast bowler Dushmantha Chameera is also back in the side, making a comeback in Sri Lanka colours after 15 months. He replaces Eshan Malinga. For Bangladesh, Taskin Ahmed was rested from the game. The tourists will miss his services as he was impressive in the opening encounter with a four-wicket burst. Hasan Mahmud is replacing him. Shamim Hossain is back in the side in place of Litton Das. Jaker Ali will keep wickets. The third and final ODI will be played on July 8, followed by three Twenty20 games. Sri Lanka: Charith Asalanka (capt), Pathum Nissanka, Nishan Madushka, Kusal Mendis (wk), Kamindu Mendis, Janith Liyanage, Dunith Wellalage, Wanindu Hasaranga, Maheesh Theekshana, Asitha Fernando, Dushmantha Chameera. Bangladesh: Mehidy Hasan Miraz (capt), Tanzid Hasan, Parvez Hossain, Najmul Hossain Shanto, Towhid Hridoy, Shamim Hossain, Jaker Ali (wk), Tanvir Islam, Mustafizur Rahman, Tanzim Hasan sakib, Hasan Mahmud. Umpires: Asif Yaqoob (PAK), Ruchira Palliyaguruge (SRI)
