KUALA LUMPUR: MARC Ratings has assigned a "Gold" impact assessment to Paramount Corporation Bhd's sustainability-kinked financing framework.
The framework has been established to set the guiding principles for Paramount's issuance of sustainability-linked financing to achieve sustainability performance targets (SPTs) in relation to selected key performance indicators (KPIs).
Paramount has been involved in property development since 1978 and has built a property portfolio comprising residential, commercial, retail, educational, industrial, hospitality, and integrated developments.
For the issuance of the sustainability-linked financing, Paramount has selected three KPIs, calibrated with their respective SPTs, which are relevant, core and material to the company's primary business of property development.
These KPIs collectively address six of the 17 United Nations Sustainable Development Goals (UN SDGs).
"We opine that the framework is aligned with the core components of the Sustainable and Responsible Investment Linked Sukuk Framework of the Securities Commission Malaysia and the Sustainability-Linked Bond Principles of the International Capital Market Association.
"The 'Gold' assessment of the framework reflects the view that the impact of the KPIs is significant, with social and environmental benefits that support six UN SDG," it said in a statement.