Islamic Finance

RAM Sustainability selected into global green-social bonds advisory council


RAM Sustainability has been selected to become a member of the 2019/2020 Advisory Council to the Green Bonds Principles (GBP) and Social Bonds Principles (SBP) Executive Committee. RAM Sustainability’s admission to the committee was formalised on 11 October 2019, after a robust selection process that included 39 other global market participants and stakeholders, shortlisted from an initial 87 international applications.

 

The GBP and SBP, as well as the Sustainability Bond Guidelines (SBG), have become the leading framework globally for issuance of green, social and sustainability bonds. The International Capital Market Association (ICMA) – the industry body for the cross-border bond market – oversees the principles on behalf of a community of more than 300 international issuers and investors, regulators, environmental NGOs, rating agencies and others operating in the market.

 

“This admission gives RAM Sustainability the opportunity to participate in the development of the global green-social bonds market,” observes Promod Dass, CEO of RAM Sustainability. “RAM Sustainability aims to contribute valuable perspectives as an ASEAN green-social finance pioneer,” adds Dass.

 

RAM Sustainability, a provider of sustainability services and ESG analytics, is a wholly owned subsidiary of RAM Holdings Berhad (RAM Group). RAM Sustainability – also a member of the 2019/2020 New Markets Taskforce of the GBP and SBP – is the first ASEAN-based provider of sustainability ratings and second opinions, and has the distinction of being the first ASEAN Registered Observer to ICMA’s GBP, SBP and SBG.

 

RAM Group is an active contributor to the development of sustainability and global green finance. On 26 May 2016, RAM Ratings joined the global line-up of six pioneer credit rating agency signatories to the PRI’s Statement on ESG in Credit Ratings. In September 2019, Edra Solar Sdn Bhd’s RM245 mil ASEAN Sustainability SRI Sukuk was assigned a credit rating by RAM Ratings, together with environmental/social benefit ratings from RAM Sustainability. This distinctive feature renders Edra Solar’s sukuk a pioneer in Malaysian sustainability sukuk. This year, RAM Ratings rated the world’s first mini-hydro green sukuk by Telekosang Hydro One Sdn Bhd, which also received a second opinion from RAM Sustainability.

For further details, please go to www.icmagroup.org/green-social-and-sustainability-bonds/advisory-council/ and www.ram.com.my/sustainability

Analytical contact

Gladys Chua

(603) 3385 2611

[email protected]

Media contact

Padthma Subbiah

(603) 3385 2577

[email protected]

Copyright Press Releases 2019


tags:

Sukuk
SDGs