KUALA LUMPUR (Feb 10): Johor Corporation has created its sustainable finance framework that will govern how the state-owned investment firm raise and deploy finance across its main businesses.

Maybank Investment Bank has been appointed as the sole sustainability structuring adviser to Johor Corporation, according to a joint statement on Tuesday. The framework will cover operating companies, subsidiaries, special purpose vehicles, and joint ventures, the statement read.

“Sustainability is not an add-on; it is embedded in how we allocate capital, govern risk, and steward assets,” said president and chief executive of Johor Corporation Datuk Syed Mohamed Syed Ibrahim.

The framework is the first of its kind by a Malaysian development institution with a diversified portfolio. Johor Corporation manages assets worth over RM25 billion across wellness and healthcare, real estate and infrastructure, agribusiness, food and restaurants as well as patient capital.

The framework covers a range of sustainability finance transactions, such as green, social, and sustainability as well as sustainable and responsible investment sukuk, bonds, loans, and financing to support eligible investments that deliver environmental and social benefits.

Eligible green and social use of proceeds categories outlined in the framework include energy efficiency, affordable housing, and food security among others.

Johor Corporation’s framework “brings rigour and credibility to financing sustainability initiatives, further amplifying the company’s impact as an investor across multiple industries,” Michael Oh-Lau, CEO of Maybank Investment Bank, added in the statement.