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KUALA LUMPUR: Public Bank Bhd will provide a special sustainable financing package to Gamuda Land following their memorandum of understanding (MoU) on green and sustainable development financing.

The development consists of residential and commercial projects that have received or will secure sustainability recognition from Green Building Index (GBI), GreenRE and other accreditation bodies.

Public Bank’s managing director and chief executive officer Tan Sri Tay Ah Lek said this MoU symbolises an advancement in the bank’s green growth journey.

Public Bank has committed to achieve carbon neutrality by the year 2030 and net-zero by 2050.

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As of March 2022, the bank has a strong market share of 20.5 per cent and 34 per cent respectively in residential and non-residential properties financing in Malaysia.

Gamuda Land chief executive officer Ngan Chee Meng said that under the Gamuda Green Plan, the group commits to reduce direct and indirect greenhouse gas emission intensity by 30 per cent in 2025 and 45 per cent by 2030.

"Moving forward, all of Gamuda Land’s development locally and internationally will be green building certified.

"As such, it is indeed timely for us to work together with like-minded partners like Public Bank, who believes in pushing the envelope with the green agenda,” said Ngan. - Bernama