Paramount secured “Gold” assessment from MARC for its Sustainability-Linked Financing Framework

Petaling Jaya, 15 May 2024 – Paramount Corporation Berhad (Paramount) is pleased to announce the receipt of a “Gold” assessment from MARC Ratings Berhad (MARC) for its Sustainability-Linked Financing Framework (Framework).

The Framework sets out the guiding principles for Paramount’s issuance of Sustainability-Linked Islamic Medium Term Notes to achieve sustainability performance targets in relation to the selected key performance indicators (KPIs):
  • KPI 1: Percentage of cumulative gross floor area assigned with green certification
  • KPI 2: Percentage of cumulative construction sites certified via Construction Industry Development Board Malaysia’s Safety and Health Assessment System in Construction
  • KPI 3: Reduction of greenhouse gas emissions intensity covering Scope 1 and Scope 2

According to MARC, the “Gold” assessment reflects its view that the impact of the KPIs is significant, with social and environmental benefits that support the six United Nations Sustainable Development Goals (UN SDGs).

“The establishment of this Framework indicates Paramount’s commitment to supporting the UN SDGs through harmonising sustainability ambitions with our operations and financing structure, and we are proud to be able to contribute to the development of sustainability financing in Malaysia,” said Benjamin Teo, Deputy Group Chief Executive Officer and Designated Sustainability Officer of Paramount.