KUALA LUMPUR: Tenaga Nasional Bhd (TNB) launches guideline to reinforce link between financing and energy transition efforts, making it the first electricity utility player in Asean to do so.
TNB said the transition finance framework outlines criteria for existing or new projects that contribute to this transition in adherence with relevant market best practices.
This includes the Asean Taxonomy for Sustainable Finance Version 2 and the Asean Transition Finance Guidance.
"Under this Transition Finance Framework, TNB will be able to issue labelled green, social and sustainability debt instruments," it said.
TNB president and chief executive officer Datuk Megat Jalaluddin Megat Hassan said the framework serves as a guide for the group's investments in emission-reduction activities and is a proactive measure in its energy transition journey.
"Guided by our Reimagining TNB strategy and Energy Transition Plan, this milestone further underscores our commitment to transition towards a more sustainable and resilient energy future in alignment with the objectives ofMalaysia's National Energy Transition Roadmap (NETR)," said Megat Jalaluddin.
The framework has been developed in alignment with the relevant international, regional, and local sustainable finance guidelines, principles, standards and frameworks.
Maybank Investment Bank Bhd acted as Sustainability Framework Adviser for the development of the Framework, which has obtained a Second-Party Opinion by Morningstar Sustainalytics.Ends