Chris Lee
KUCHING: RAM Sustainability Sdn Bhd (RAM Sustainability), a wholly owned subsidiary of RAM Holdings Bhd (RAM), is now an Approved Verifier for the certification of Climate Bonds under the Climate Bonds Standard & Certification Scheme (the Scheme) after having been awarded the status by the Climate Bonds Standards Board on August 12, 2020.
This certification process under the scheme will allow issuers to demonstrate to the market that their green bonds, sukuk or loans meet global best practice standards for climate integrity, management of proceeds and transparency.
“RAM Sustainability’s Climate Bonds Approved Verifier status is another key RAM Group strategic effort to boost Malaysia’s position as a Sustainable and Responsible Investment (SRI) hub and support Securities Commission Malaysia’s SRI Roadmap for the Malaysian Capital Market,” RAM Group chief executive officer (CEO) Chris Lee Wai Kit highlighted.
In 2019, issuances of green bonds and green loans in Asean doubled to US$8.1 billion, up from US$4.1 billion in the preceding year, indicating strong interest from issuers, bankers and investors, backed by a conducive regulatory environment for a more sustainable financial market.
“The green bonds and sukuk market is growing in Asean, but it needs support. That’s why we are so pleased to welcome RAM Sustainability as an Approved Verifier under the Climate Bonds Standard,” London-based Climate Bonds Initiative CEO Sean Kidney said.
“We are excited to be working with them to improve access to sustainable finance for Asean issuers.”
The scheme acts as a universal adapter across jurisdictions as it incorporates the Green Bond Principles (GBP) and Green Loan Principles and is aligned with the European Union Green Bond Standard and guidelines and regulatory requirements in China, Asean, Japan, India and other countries.