Latest news with #SustainableFinancingFramework
Korea Herald
28-07-2025
- Business
- Korea Herald
SMU issues its inaugural Sustainability Bond, raising S$150 million to advance environmental and social initiatives
SINGAPORE, July 28, 2025 /PRNewswire/ - - Singapore Management University (SMU) today announced that it has completed the issuance of a S$150 million Sustainability Bond. The proceeds of the Bond are earmarked for financing and refinancing green and social projects that deliver clear environmental and social benefits, as guided by SMU's newly established Sustainable Financing Framework. The Sustainability Bond, the first such bond by an Autonomous University (AU) in Singapore, was issued on 28 July 2025 at a coupon rate of 2.022% and will mature on 28 July 2032. The Sole Lead Manager and Bookrunner for the bond issuance was Oversea-Chinese Banking Corporation Limited (OCBC). SMU President, Professor Lily Kong, said, "This inaugural Sustainability Bond is more than just a financial instrument — it reflects our belief that universities must play a leading role in building a more sustainable and inclusive future. We've been guided by our Sustainability Blueprint since 2022 and are proud to contribute to the priorities set out in the Singapore Green Plan 2030. As a university, we take seriously our role in shaping future-ready graduates who are not only intellectually agile, but also attuned to the pressing challenges of our time. By embedding sustainability in our operations and investments, we hope to lead with purpose and conviction." "Launching this bond in our 25 th anniversary year feels especially meaningful — it signals our intent to grow with purpose, and to leave a positive, lasting impact on the communities we serve," she added. SMU Sustainable Finance Framework In June 2025, SMU established a holistic and comprehensive Sustainable Financing Framework which aligns SMU's financial practice with its sustainability goals (outlined in the SMU Sustainability Blueprint) and embodies SMU's deep commitment to sustainability and corporate social responsibility. The Framework outlines the criteria and guidelines for SMU to allocate and manage the proceeds raised from sustainable finance transactions. Developed in collaboration with its sole sustainability advisor, OCBC, the Framework provides the foundation for SMU to engage in sustainable finance transactions such as green, social and sustainability bonds and loans. It guides SMU's issuance of sustainable finance debt instruments to finance or refinance projects and assets that deliver measurable environmental and/ or social benefits. These include green buildings, energy efficiency upgrades, green infocommunications technology infrastructure, sustainable water and waste management, as well as programmes that promote inclusive education, knowledge sharing, and mental health and wellbeing. Mr Lim Boon Wee, SMU's Senior Vice President, Administration, said, "This bond issuance is a strategic milestone for SMU as we align our financial strategy with our sustainability goals, and channel capital to where it matters most. It enables us to finance infrastructure and initiatives that enhance environmental performance and social impact, while ensuring transparency and accountability to our stakeholders." The Framework received a Second Party Opinion from ratings agency, Moody's Investors Service (Moody's), affirming its alignment with internationally recognised standards and its significant contribution to sustainable outcomes. Moody's further assessed the Framework as having a significant contribution to sustainability, giving it an overall Sustainability Quality Score of SQS2 – Very Good. SMU also maintains a Aaa rating by Moody's, the highest possible rating in assessing creditworthiness, reflecting the University's robust institutional framework and healthy operating performance. First Sustainability Bond issuance by a Singapore university SMU's Sustainability Bond is the first such bond issued by an AU in Singapore, and is differentiated in the scope of impact. Apart from green initiatives with environmental benefits, SMU is committing a portion of the proceeds raised to fund social programmes that promote inclusive education benefitting its students from low-income families. This differs from Green Bonds (focusing solely on projects with environmental benefits) and Sustainability-Linked Bonds (which are tied to predefined sustainability performance targets only) previously issued by other universities in Singapore. Ms Elaine Lam, Head of Global Corporate Banking, OCBC, said, "With our strong track record in guiding clients through their green transition with strategic advisory and targeted financing solutions, we are excited to strengthen our long-standing partnership with SMU by supporting its first Sustainability Bond issuance covering both environmental projects as well as social programmes that promote inclusive education. A first by an autonomous university in Singapore, this bond issuance speaks to SMU's leadership in integrating sustainability into its core mission, potentially inspiring its students to become future leaders who advocate for both environmental stewardship and social equity." - End -
Malaysian Reserve
28-07-2025
- Business
- Malaysian Reserve
SMU issues its inaugural Sustainability Bond, raising S$150 million to advance environmental and social initiatives
SINGAPORE, July 28, 2025 /PRNewswire/ –– Singapore Management University (SMU) today announced that it has completed the issuance of a S$150 million Sustainability Bond. The proceeds of the Bond are earmarked for financing and refinancing green and social projects that deliver clear environmental and social benefits, as guided by SMU's newly established Sustainable Financing Framework. The Sustainability Bond, the first such bond by an Autonomous University (AU) in Singapore, was issued on 28 July 2025 at a coupon rate of 2.022% and will mature on 28 July 2032. The Sole Lead Manager and Bookrunner for the bond issuance was Oversea-Chinese Banking Corporation Limited (OCBC). SMU President, Professor Lily Kong, said, 'This inaugural Sustainability Bond is more than just a financial instrument — it reflects our belief that universities must play a leading role in building a more sustainable and inclusive future. We've been guided by our Sustainability Blueprint since 2022 and are proud to contribute to the priorities set out in the Singapore Green Plan 2030. As a university, we take seriously our role in shaping future-ready graduates who are not only intellectually agile, but also attuned to the pressing challenges of our time. By embedding sustainability in our operations and investments, we hope to lead with purpose and conviction.' 'Launching this bond in our 25th anniversary year feels especially meaningful — it signals our intent to grow with purpose, and to leave a positive, lasting impact on the communities we serve,' she added. SMU Sustainable Finance Framework In June 2025, SMU established a holistic and comprehensive Sustainable Financing Framework which aligns SMU's financial practice with its sustainability goals (outlined in the SMU Sustainability Blueprint) and embodies SMU's deep commitment to sustainability and corporate social responsibility. The Framework outlines the criteria and guidelines for SMU to allocate and manage the proceeds raised from sustainable finance transactions. Developed in collaboration with its sole sustainability advisor, OCBC, the Framework provides the foundation for SMU to engage in sustainable finance transactions such as green, social and sustainability bonds and loans. It guides SMU's issuance of sustainable finance debt instruments to finance or refinance projects and assets that deliver measurable environmental and/ or social benefits. These include green buildings, energy efficiency upgrades, green infocommunications technology infrastructure, sustainable water and waste management, as well as programmes that promote inclusive education, knowledge sharing, and mental health and wellbeing. Mr Lim Boon Wee, SMU's Senior Vice President, Administration, said, 'This bond issuance is a strategic milestone for SMU as we align our financial strategy with our sustainability goals, and channel capital to where it matters most. It enables us to finance infrastructure and initiatives that enhance environmental performance and social impact, while ensuring transparency and accountability to our stakeholders.' The Framework received a Second Party Opinion from ratings agency, Moody's Investors Service (Moody's), affirming its alignment with internationally recognised standards and its significant contribution to sustainable outcomes. Moody's further assessed the Framework as having a significant contribution to sustainability, giving it an overall Sustainability Quality Score of SQS2 – Very Good. SMU also maintains a Aaa rating by Moody's, the highest possible rating in assessing creditworthiness, reflecting the University's robust institutional framework and healthy operating performance. First Sustainability Bond issuance by a Singapore university SMU's Sustainability Bond is the first such bond issued by an AU in Singapore, and is differentiated in the scope of impact. Apart from green initiatives with environmental benefits, SMU is committing a portion of the proceeds raised to fund social programmes that promote inclusive education benefitting its students from low-income families. This differs from Green Bonds (focusing solely on projects with environmental benefits) and Sustainability-Linked Bonds (which are tied to predefined sustainability performance targets only) previously issued by other universities in Singapore. Ms Elaine Lam, Head of Global Corporate Banking, OCBC, said, 'With our strong track record in guiding clients through their green transition with strategic advisory and targeted financing solutions, we are excited to strengthen our long-standing partnership with SMU by supporting its first Sustainability Bond issuance covering both environmental projects as well as social programmes that promote inclusive education. A first by an autonomous university in Singapore, this bond issuance speaks to SMU's leadership in integrating sustainability into its core mission, potentially inspiring its students to become future leaders who advocate for both environmental stewardship and social equity.' Highlights of SMU's sustainability-related achievements Ranked 18th globally in the Environmental Sustainability lens, Environmental Impact category for the QS World University Rankings: Sustainability 2025 Winner, Sustainability Institution of the Year, 2024 International Green Gown Awards Won the fifth consecutive Silver Ribbon Mental Health Award in as many years since the awards were inaugurated by Silver Ribbon (Singapore) in 2020 Entire campus awarded the Green Mark Platinum certification, with the first Green Mark Platinum Zero Energy building in the city centre First university in Singapore to introduce sustainability literacy and community service as graduation requirements – End –
Kuwait Times
22-05-2025
- Business
- Kuwait Times
Shaikha Al-Bahar only Kuwaiti on Fortune's 100 powerful businesswomen in 2025 list
Al-Bahar stands as second-highest ranked executive from Mideast KUWAIT: Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK), has been recognized as Kuwait's most influential businesswoman and the sole Kuwaiti featured in Fortune Magazine's prestigious 2025 list of the 100 Most Powerful Women in Business. Al-Bahar stands as the second-highest ranked executive from the Middle East region on this coveted list. The list, compiled by Fortune editors, is based on company size and health of the business, as well as an executive's career trajectory, influence, innovation and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year's list — a testament to how increasingly competitive the ranking has become. Featured in the 2025 ranking are some of the most influential figures in global business, including Mary Barra, Chair and CEO of General Motors; Julie Sweet, Chair and CEO of Accenture; Jane Fraser, CEO of Citigroup; Lisa Su, Chair and CEO of AMD; and Ana Botín, Executive Chairman of Banco Santander. In her role at NBK, Al-Bahar continues to play a pivotal part in driving the bank's sustained growth and transformation. Her leadership spans critical initiatives including digital innovation, sustainability strategies, and policy development to extend NBK's regional footprint. She has been instrumental in advancing sustainable finance efforts aligned with the global transition towards a low-carbon economy and climate risk mitigation. Driven by her strategic vision, NBK reinforced its position as Kuwait's largest bank and a regional powerhouse with top-tier credit ratings. Building on this momentum, she spearheaded the Group's digital transformation, notably launching 'Weyay,' Kuwait's first fully digital bank tailored to redefine financial engagement for younger generations. Al-Bahar was also a key architect behind NBK's Sustainable Financing Framework, embedding global ESG standards into the bank's operations. Beyond business, Al-Bahar is a strong advocate for social impact. She launched NBK RISE, a transformative initiative aimed at empowering women in leadership roles and led the 'Bankee' Financial Literacy Program in partnership with the Ministry of Education and the Public Authority for Anti-Corruption 'Nazaha.' In the 2024–2025 academic year alone, the program reached more than 32,000 students and 7,200 teachers, marking a significant step forward in advancing financial literacy among Kuwait's youth.
Kuwait Times
16-05-2025
- Business
- Kuwait Times
NBK publishes first green bond allocation and impact report
KUWAIT: In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental, social and institutional governance strategy and launching initiatives as per international standards and practices. In light of this, NBK published its first allocation and impact report for its debut $500 green bond issued in June 2024, which is the first issuance of its kind in Kuwait. The report provides relevant information that details the proceeds' allocation from the green bond as of 31 March 2025and the estimated environmental impact during the reporting period. NBK's green bond was issued in alignment with its Sustainable Financing Framework (or 'Framework'), which received a Second-Party Opinion (SPO) from S&P Global Ratings, an independent provider of sustainability ratings, confirming its alignment with the Green Bond Principles (GBP), Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) published by the International Capital Market Association (ICMA), in addition to the green and social loans principles by the Loan Market Association (LMA). The report highlights the value of NBK's eligible green assets portfolio, which reached $625 million as of 31 March 2025, exceeding the value of its $500 million debut green bonds. The Bank's eligible green assets portfolio is distributed among three categories: 76 percent for green buildings, 17 percent for renewable energy, and 7 percent for clean transportation. Moreover, NBK's first green bond strongly supported the United Nations Sustainable Development Goals (UN SDGs), particularly goal 7 on guaranteeing that clean and affordable energy is accessible to all, and goal 11 on making cities inclusive, safe, resilient, and sustainable. The Bank's first green issuance also promotes its ESG strategy and affirms its support to projects that protect the environment and reduce climate change impact. Green Buildings According to the report, NBK owns a portfolio for financing green buildings, which reflects its essential role in accelerating the transition to a low-carbon economy by reducing emissions, improving energy efficiency and promoting urban development. The buildings and construction sector contributes significantly to global climate change, accounting for about 21% of global greenhouse gas emissions. It also indicated that NBK's green building portfolio achieved sustainability certifications such as Leadership in Energy and Environmental Design (LEED) Gold Certification by the US Green Building Council or an Excellent rating by the Building Research Establishment Environmental Assessment Methodology (BREEAM), which is a British rating system developed by the Building Research Establishment (BRE). The report also mentions that through its green building strategic financing, not only does NBK support climate adaptability and asset value in this field in the long term, but also directly contributes to achieving local, regional and international climate goals. Renewable energy At COP29, held in Baku, Azerbaijan, global leaders reaffirmed their commitment to accelerating the energy transition by pledging to triple renewable energy capability by 2030. This ambitious target underscores the urgency of addressing climate change. In line with the global shift towards accelerating the global transition to a low-carbon economy and reducing reliance on fossil fuels; the report sheds the light on NBK's key role in financing utility-scale solar PV, concentrated solar power (CSP) plants, as well as offshore and onshore wind farms, highlighting the Bank's commitment to supporting clean energy infrastructure, reducing emissions, achieving technological gains, and enhancing long-term energy security. Sustainable transportation The report highlights the pivotal role of financial institutions in decarbonizing the mobility sector and accelerating the shift toward electrification, both of which are key pillars in building a low-carbon economy by channeling capital towards sustainable mobility solutions. With this established, the report highlights NBK's strategic efforts in promoting this transformation by financing infrastructure and technologies that enable electrification, including electric vehicles, railway expansion, and other sustainable transformation solutions. NBK aims to update its green bond report on an annual basis to highlight any changes that occur to its eligible green asset portfolio. It should be noted that NBK has come a long way in the ESG field, as it launched its dynamic ESG strategy at the Group-level and made sustainability at the forefront of its priorities in all its operations and culture. NBK's ESG strategy aims to support economic development and stand out as a role model in the field through its four foundational pillars that include Governance for Resilience, Responsible Banking, Capitalizing on Capabilities, and Investing in Communities. NBK's role in propelling sustainable change within the finance sector is one it significantly acknowledges. NBK is focused on supporting its clients in the transition to a low carbon economy and a more sustainable and inclusive future across various business streams. Key Highlights: - The net value of NBK's eligible green bond asset portfolio reached USD 625 million as of 31 March 2025, exceeding the value of its USD 500 million debut green bond. - 80% of eligible green assets are funded by the green bond. - NBK supported 18 green projects across Europe, North America, Asia-Pacific, and the Middle East. - NBK's eligible green bond asset portfolio is distributed across three categories: 76% for Green Buildings, 17% for Renewable Energy, and 7% for Clean Transportation. - The annual financed emissions avoided of NBK's eligible green asset portfolio are estimated at 85,026.40 tons CO2 equivalent. - Total renewable energy generated of NBK's renewable energy portfolio reached approximately 3,808,759 MWh.
