KUALA LUMPUR: LBS Bina Group Bhd, a developer guided by people-first values, has been awarded the 2024 "World Sustainable Property Icon Leadership Lifetime Achievement Award".
Group executive chairman Tan Sri Lim Hock San was honoured with the prestigious award by Penang Yang di-Pertua Negeri Tun Ahmad Fuzi Abdul Razak in recognition of his exceptional contributions to sustainability in the property sector.
In 2016, LBS Bina established its sustainability working team, marking the beginning of its structured approach to sustainability.
Five years later in 2021, LBS Bina published its first standalone sustainability report and formed both a board-level sustainability committee and a dedicated group sustainability team, which underscore the company's commitment to integrating sustainability into its core operations and governance.
In the following year, LBS Bina was recognised in the FTSE4Good Bursa Malaysia indices (F4GBM and F4GBMS), earning a three-star rating, which exemplifies the company's adherence to high environmental, social and governance (ESG) standards.
"Building on this momentum, LBS Bina developed a comprehensive Net Zero Carbon Emissions by 2050 Roadmap in 2023, setting clear short, medium and long-term strategies and targets.
"This dedication to reducing carbon emissions and enhancing sustainability practices was further acknowledged when LBS Bina received the award for the most improved performance at The Edge Malaysia ESG Awards 2023," it said in a statement today.
Continuing its pioneering efforts in 2024, LBS Bina introduced a voluntary internal carbon pricing mechanism at the group level and established a Sukuk Wakalah programme of up to RM750 million.
"These actions reflect LBS Bina's commitment to sustainable finance and position the company as a leader in integrating ESG principles into the real estate sector," it said.
According to LBS Bina, it achieved significant economic, environmental, social and governance advancements in 2023.
Economically, the company launched a Sukuk Wakalah programme valued at up to RM750 million, receiving a" Gold" Impact Bond Assessment by MARC and a credit rating of AA-IS.
LBS Bina also became the first real estate developer in Malaysia to issue an Asean Social Sri Sukuk Wakalah worth RM200 million.
Environmentally, LBS Bina has installed solar panels at key properties, including on its headquarter's rooftop, KITA @ Cybersouth sales gallery, and the MGB industrialised building system precast concrete factory, demonstrating a tangible commitment to renewable energy and reducing its carbon footprint.
On the social front, the LBS Foundation has made a significant impact where it promoted 421,795 external beneficiaries and contributed RM1.68 million to various community initiatives, showcasing LBS Bina's dedication to social responsibility and community development.
In terms of governance, LBS Bina has been a trailblazer with women making up 37.5 per cent of its board, a significant representation that highlights the company's commitment to gender diversity and inclusive governance.
"Lim's leadership has been instrumental in steering LBS Bina towards these remarkable achievements. The conferment of the award is a fitting recognition of his dedication to sustainability and his significant contributions to the real estate industry," it added.
