LBS Honored With Prestigious Sustainability Award

LBS Bina Group Berhad (LBS), a developer committed to people-first values, has been awarded the 2024 “World Sustainable Property Icon Leadership Lifetime Achievement Award.”

The prestigious honor was presented to Tan Sri Ir (Dr.) Lim Hock San by H.E. Tun Dato’ Seri Utama Ahmad Fuzi bin Haji Abdul Razak, Governor of the State of Penang, at a ceremony held today at the JEN Penang Georgetown by Shangri-La.

Under the visionary leadership of Tan Sri Lim, LBS has made significant strides in sustainability. The company established its Sustainability Working Team in 2016, marking the start of its structured approach to sustainability.

By 2021, LBS had published its first standalone Sustainability Report and formed a Board-Level Sustainability Committee and a dedicated Group Sustainability team.

In 2022, LBS Bina was recognised in the FTSE4Good Bursa Malaysia indices (F4GBM, F4GBMS) with a 3-star rating, reflecting its adherence to high environmental, social, and governance (ESG) standards. Building on this achievement, in 2023, LBS Bina developed a comprehensive Net Zero Carbon Emissions by 2050 Roadmap, setting clear strategies and targets.

The company’s dedication to reducing carbon emissions was further acknowledged when it received the award for the most improved performance at The Edge Malaysia ESG Awards 2023.

Continuing its pioneering efforts in 2024, LBS Bina introduced a voluntary Internal Carbon Pricing mechanism and established a Sukuk Wakalah Programme of up to RM 750 million. These initiatives underscore LBS Bina’s commitment to sustainable finance and integrating ESG principles into the real estate sector.

In 2023, LBS achieved significant advancements in various areas. Economically, the company launched a Sukuk Wakalah Programme valued at up to RM 750 million, earning a ‘GOLD’ Impact Bond Assessment by MARC and a credit rating of AA-IS. LBS also became the first real estate developer in Malaysia to issue an ASEAN Social Sri Sukuk Wakalah worth RM200 million.

Environmentally, LBS installed solar panels at key properties, including its headquarters, KITA @ Cybersouth sales gallery, and the MGB IBS precast concrete factory. On the social front, the LBS Foundation benefited 421,795 external beneficiaries and contributed RM 1.68 million to community initiatives. In governance, LBS achieved 37.5% female representation on its Board, highlighting its commitment to gender diversity.

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