Latest news with #SustainableFinanceFramework
Hi Dubai
a day ago
- Business
- Hi Dubai
New Green Term Loan Secured for Galadari Sports Facility in Dubai
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has announced the successful completion of a new Green Term Loan Facility with Galadari Sports, part of Galadari Brothers, a leading Dubai-based conglomerate, to fund the construction of a new sports complex in the emirate. The state-of-the-art facility will be built to the strict rules and parameters of Dubai Municipality's Sa'fat Gold certification for green buildings, while funding for the project aligns with Emirates NBD's Sustainable Finance Framework. Located in the Al Quoz neighborhood, the complex is among only a few privately funded developments that are targeting Sa'fat Gold certification. A flagship project for Galadari Sports, once completed, it will help to set new standards in sustainability for recreational buildings and associated infrastructure. As a key part of securing funding through Emirates NBD's Sustainable Finance Framework and official Loan Market Association (LMA) Green Loan Principles, construction of the new complex will adhere to stringent protocols governing building processes and materials, while regular environmental monitoring and annual impact reports will assess its ongoing compliance. Once completed, the new green-certified community facility will feature swimming pools, gyms, squash and padel courts, with power and utilities provided by innovative and sustainable systems including solar panels and water recycling. Emirates NBD is committed to enabling the UAE's transformation into a green, low-carbon economy through initiatives such as its Sustainable Finance Framework. Part of a wide-ranging economic empowerment strategy, Emirates NBD's Sustainable Finance Framework is aligned with the aims of the United Nations Sustainable Development Goals (SDGs) and the UAE's Vision 2030 and Net Zero 2050 plans. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: This transaction between Emirates NBD and Galadari Sports is a clear and inspiring example of how sustainability-linked funding options continue to be a driving force in helping the UAE reach its Net Zero 2050 ambitions. The availability of new financing tools across sectors enables important collaborations between banking institutions and private companies, allowing for the creation of increased value through responsible, economically-empowering, and environmentally-friendly developments. Projects such as the Galadari Sports complex are at the forefront of a new wave of sustainable urban growth, with innovative green buildings – constructed according to the guiding principles of Dubai Municipality's Sa'fat Gold certification and aligned with Emirates NBD's Sustainable Finance Framework – providing essential services to communities. Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE. By investing in energy-efficient infrastructure and embracing green finance, we are proud to support the nation's Net Zero 2050 agenda while delivering long-term value to our communities. Our partnership with Emirates NBD marks a significant milestone for Galadari Brothers and reinforces our belief in the power of responsible, future-focused development. As we expand our presence in the wellness and recreation sector, sustainability will remain a core pillar of our long-term vision and growth strategy. News Source: Burson Global
Mid East Info
2 days ago
- Business
- Mid East Info
Emirates NBD and Galadari Sports complete new Green Term Loan Facility for development of state-of-the-art community sports complex in Dubai
Located in Al Quoz, the complex aligns with Emirates NBD's Sustainable Finance Framework and will meet Dubai Municipality's Sa'fat green building certification Project supports the UAE's Net Zero 2050 agenda by empowering financial institutions and private companies to develop energy-efficient infrastructure Dubai, UAE,kiye MENAT region, has announced the successful completion of a new Green Term Loan Facility with Galadari Sports, part of Galadari Brothers, a leading Dubai-based conglomerate, to fund the construction of a new sports complex in the emirate. The state-of-the-art facility will be built to the strict rules and parameters of Dubai Municipality's Sa'fat Gold certification for green buildings, while funding for the project aligns with Emirates NBD's Sustainable Finance Framework. Located in Al Quoz neighborhood, the complex is among only a few privately funded developments that are targeting Sa'fat Gold certification. A flagship project for Galadari Sports, once completed it will help to set new standards in sustainability for recreational buildings and associated infrastructure. As a key part of securing funding through Emirates NBD's Sustainable Finance Framework and official Loan Market Association (LMA) Green Loan Principles, construction of the new complex will adhere to stringent protocols governing building processes and materials, while regular environmental monitoring and annual impact reports will assess its ongoing compliance. Once completed, the new green-certified community facility will feature swimming pools, gyms, squash and padel courts, with power and utilities provided by innovative and sustainable systems including solar panels and water recycling. Emirates NBD is committed to enabling the UAE's transformation into a green, low-carbon economy through initiatives such as its Sustainable Finance Framework. Part of a wide-ranging economic empowerment strategy, Emirates NBD's Sustainable Finance Framework is aligned with the aims of the United Nations Sustainable Development Goals (SDGs) and the UAE's Vision 2030 and Net Zero 2050 plans. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'This transaction between Emirates NBD and Galadari Sports is a clear and inspiring example of how sustainability-linked funding options continue to be a driving force in helping the UAE reach its Net Zero 2050 ambitions. The availability of new financing tools across sectors enables important collaborations between banking institutions and private companies, allowing for the creation of increased value through responsible, economically-empowering and environmentally-friendly developments. Projects such as the Galadari Sports complex are at the forefront of a new wave of sustainable urban growth, with innovative green buildings – constructed according to the guiding principles of Dubai Municipality's Sa'fat Gold certification and aligned with Emirates NBD's Sustainable Finance Framework – providing essential services to communities.' Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: 'This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE. By investing in energy-efficient infrastructure and embracing green finance, we are proud to support the nation's Net Zero 2050 agenda while delivering long-term value to our communities. Our partnership with Emirates NBD marks a significant milestone for Galadari Brothers and reinforces our belief in the power of responsible, future-focused development. As we expand our presence in the wellness and recreation sector, sustainability will remain a core pillar of our long-term vision and growth strategy.' About Emirates NBD: Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water. About Galadari Brothers: For more than 60 years, Galadari Brothers has pioneered growth. We combine the ambition of a powerful partner with the inspired spirit of a family-owned business, with the company thriving across various sectors – from media to heavy equipment, food & beverage, motors, engineering, projects, facility management, sports, travel and hospitality, real estate, and other ventures. That's why some of the world's most admired brands, including Baskin Robbins, Komatsu, Mazda, Dunkin', Kawasaki, JCB, Kyochon, Triumph, Sitrak, and more, trust us with their growth. Our team of more than 6,000 pioneers operate across ten countries to drive growth for licensed and owned brands, including Khaleej Times, Halla Shawarma, Shabestan and Galadari Energy Solutions. Together, we are creating a world of boundless innovation and creativity, to elevate the GCC and beyond.
Rakyat Post
15-05-2025
- Business
- Rakyat Post
Sabah Energy Corporation Launches Inaugural ESG Forum to Drive Sustainable Transformation
Subscribe to our FREE Sabah Energy Corporation Sdn Bhd (SEC) today successfully convened its inaugural Environmental, Social, and Governance (ESG) Forum 2025 under the theme 'From Intention to Impact: Building a Fit-for-Purpose ESG Future' at Menara SEC, one of Kota Kinabalu's latest office landmarks. The event brought together over 100 delegates from State agencies, GLCs, financial institutions, and sustainability practitioners, with the aim of fostering collaboration and accelerating ESG adoption across Sabah's energy sector and beyond. In his opening remarks, SEC Group Chief Executive Officer, Datuk Adzmir Abd Rahman welcomed guests to Menara SEC, describing it as the corporation's new home and a symbol of progress. Datuk Adzmir also highlighted SEC's duty to pursue responsible and forward-looking energy development that balances environmental responsibility, economic growth and community well-being. As part of its broader ESG commitments, Datuk Adzmir also announced the launch of an annual Corporate Charity Run, aimed at promoting community health and social impact. The initiative reflects SEC's ongoing effort to enhance community well-being through inclusive, purpose-driven engagement beyond the corporate sphere. The forum was officiated by SEC Group Chairman, YB Datuk Annuar Ayub, who in his address emphasized the importance of ESG not just as a reporting tool but as a strategic lever for long-term competitiveness and resilience. He lauded the forum as a defining step in embedding sustainability as a shared value across Sabah's institutional ecosystem. Datuk Annuar reaffirmed SEC's commitment to institutionalising ESG best practices through a 12-week exercise via a roadmap towards a fit- for-purpose, Sukuk-ready Sustainable Finance Framework. The afternoon session saw Maybank facilitating a deep-dive with SEC' s leaders to enhance its identified ESG ambition and framework components in line with sustainability standards. Maybank Investment Bank Berhad has been appointed as SEC's Sole Principal Adviser, Lead Arranger, and Lead Manager for the establishment of its inaugural Sukuk Programme, and as the Sustainability Structuring Adviser for its Sustainable Finance Framework. Michael Oh-Lau, Chief Executive Officer of Maybank Investment Bank said 'Sabah is at an inflection point in its renewable energy journey, with untapped potential in solar, bioenergy and geothermal. Maybank as a regional leader in Islamic debt capital markets and sustainable finance is partnering with SEC to establish a Shariah-compliant, sustainability-ready funding platform to support its energy transition efforts and direct capital towards developing the state's energy resources'. The event also featured high-impact presentations from En. Wan Sayuti of PETRONAS and En. Nazim Noor, Director of ESG Strategy & Solutions of Group Global Banking from Maybank on national ESG imperatives and unlocking Sabah's potential. This was followed by a dynamic panel session with insights from AGV Environment, Maybank Investment Bank, Ms. Valerie Ng, Head of Sustainable Finance, and SEC's ESG initiators. This Forum is envisioned as a signature platform to mainstream ESG leadership within Sabah, marking SEC's bold step to connect sustainability ambitions with actionable outcomes. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
The Star
13-05-2025
- Business
- The Star
SEC partners Maybank Investment Bank to advance ESG agenda and sukuk programme
From left: Sabah Energy Corporation (SEC) CEO Datuk Adzmir Abd Rahman, SEC chairman Datuk Annuar Ayub and Maybank Investment Bank CEO Michael Oh-Lau. KUALA LUMPUR: Sabah Energy Corporation Sdn Bhd (SEC) has reaffirmed its commitment to institutionalising ESG best practices through a 12-week roadmap to develop a fit-for-purpose Sustainable Finance Framework — a key step towards its inaugural sukuk programme. SEC group chairman Datuk Annuar Ayub said in a satement the initiative is part of SEC's long-term dedication to responsible energy development, with a focus on balancing environmental sustainability, economic growth, and community well-being. It will also support the establishment of the company's inaugural sukuk programme to finance green energy projects. To facilitate this, SEC has appointed Maybank Investment Bank as its sole principal adviser, lead arranger, and sustainability structuring adviser for the sukuk and ESG framework. The collaboration aims to establish a Shariah-compliant, sustainability-ready funding platform for the state's energy transition efforts. 'Sabah is at an inflection point in its renewable energy journey, with untapped potential in solar, bioenergy and geothermal. Maybank as a regional leader in Islamic debt capital markets and sustainable finance is partnering with SEC to establish a Shariah-compliant, sustainability-ready funding platform to support its energy transition efforts and direct capital towards developing the state's energy resources,' Maybank Investment Bank chief executive officer Michael Oh-Lau said in a statement. SEC is also launching community-driven ESG initiatives, including an annual corporate charity run aimed at promoting community health and social impact. The announcements were made during SEC's inaugural ESG Forum 2025, held at Menara SEC, where over 100 delegates from state agencies, financial institutions, and sustainability bodies gathered to explore collaborative pathways in ESG adoption across Sabah. In his opening remarks, SEC group chief executive officer Datuk Adzmir Abd Rahman welcomed guests to Menara SEC, describing it as the corporation's new home and a symbol of progress. Adzmir also highlighted SEC's responsibility to pursue responsible and forward-looking energy development — one that balances environmental stewardship, economic growth, and community well-being.
The Sun
06-05-2025
- Business
- The Sun
Malakoff issues inaugural RM250m Asean green sukuk
KUALA LUMPUR: Malakoff Corporation Bhd, through its wholly owned subsidiary Malakoff Power Bhd (MPower) has issued its inaugural RM250 million Asean Sustainability SRI Sukuk Murabahah (Issuance) under its RM1.2 billion Islamic Medium-Term Notes Programme (IMTN). This is Malakoff's first sustainability offering under its Asean Sustainability SRI Sukuk Murabahah and the first by an independent power producer in Malaysia. The proceeds from the issuance shall be utilised to finance eligible projects by MPower, Malakoff and its subsidiaries, in accordance with Malakoff's Sustainable Finance Framework, which has been in place since December 2023. Maybank Investment Bank Bhd (Maybank IB) acted as the sole lead manager and facility agent while Maybank Islamic Bhd was the shariah adviser for the Issuance. Maybank IB was also the sustainability structuring adviser for Malakoff's Sustainable Finance Framework. As part of its broader commitment to sustainability and energy transition, Malakoff in a statement yesterday said it has made significant strides over the past year in advancing its sustainability commitment. The group achieved a 3.7% year on-year reduction in greenhouse gas emissions intensity moderately contributed as well by a 17.0% reduction in Scope 2 emissions with respect to the Group's electricity consumption. It also launched its flagship Biomass Co-firing Project at the 2,100 MW Tanjung Bin Power Plant for a trial run under the National Energy Transformation Roadmap. The project achieved a 2% biomass co-firing ratio. Malakoff is committed to scale up the biomass co-firing to a higher ratio of 15% by 2027. This milestone is projected to reduce carbon dioxide (CO₂) emissions by approximately 755,000 tonnes annually, which is equivalent to the carbon offset of 142 million mature trees. In parallel, the group commenced construction of three run-of-river small hydropower plants along Sungai Galas in Kelantan, expected to offset a further 272,424 tonnes of CO₂ per year. The group also continued expanding its renewable energy (RE) portfolio, achieving 173 MW in total RE capacity – a 496.6% increase from its 2021 baseline. This includes 17.4 MWp of completed commercial and industrial solar installations and the acquisition of equity stakes in ZEC Solar Sdn Bhd (51%) and TJZ Suria Sdn Bhd (49%), contributing an additional 29 MW. Malakoff managing director and group CEO Anwar Syahrin Abdul Ajib (pic) said: 'This transaction marks a significant milestone for Malakoff Power, as it represents our first Asean Sustainability SRI Sukuk Murabahah issuance via a book-building exercise under our IMTN Programme. 'Given that MPower's last public sukuk issuance was in December 2013, we are very encouraged by the strong demand from a diverse investor base for this issuance, which has set a new pricing benchmark for MPower. 'Looking ahead, Malakoff will continue to broaden its assets portfolio through strategic partnerships and circular economy initiatives. 'As a trusted partner in Malaysia's green transition, we remain focused on strengthening capabilities, enhancing efficiencies and delivering long-term value in an evolving energy landscape'. On the back of growing demand for sustainability assets and the scarcity value of Sukuk offerings by MPower, the transaction was oversubscribed by 10.34 times. Supported by the strong orderbook, the price guidance was revised and tightened multiple times. The issuance was finally priced at MGS +70 basis points across both tenures of 7 and 10 years, which is 30 basis points lower than the upper end of the initial price guidance. Maybank Investment Bank Bhd CEO Michael Oh-Lau said: 'Maybank Investment Bank is proud to have lead-managed and advised Malakoff Power's maiden Asean Sustainability SRI Sukuk Murabahah issuance, underscoring our commitment to be a sustainability leader in the region. 'The strong response from investors is testament of the market's confidence in Malakoff as well as Maybank IB's ability to secure strong participation despite market seasonality. 'The pricing outcome also positions this landmark transaction as one of the lowest spreads for a corporate within the AA-/AA3 rating band in recent times.'
