OCBC pioneers Islamic sustainable financing for PNB

OCBC Malaysia is the sole lead arranger and sustainability structuring adviser for the green facility.

KUALA LUMPUR: OCBC Bank (M) Bhd has pioneered the inaugural Islamic Sustainable Financing Facility for Permodalan Nasional Bhd’s (PNB) wholly-owned subsidiary, PNB Jersey Ltd, with a RM1.2bil Islamic Green Financing Facility (Green Facility).

OCBC Malaysia is the sole lead arranger and sustainability structuring adviser for the green facility to finance the refurbishment of PNB’s investment property located at One Exchange Square, London.

The bank shared that the property is an office tower which has been designed to attain the “Excellent” rating under the Building Research Establishment Environmental Assessment Method, with a targeted National Australian Built Environment Rating System UK five-star rating post-completion.

This signifies PNB’s environmental, social and governance commitment towards investing in green and transition assets.

In a statement yesterday, OCBC Malaysia said upon completion of the refurbishment in 2026, the property is expected to achieve net-zero carbon emissions in operations through a combination of energy efficiency, electrification and on-site energy generation. — Bernama