The developer and subsidiary won at The Edge Malaysia ESG 2023 Award
RENOWNED developer, LBS Bina Group Berhad (LBS) and its construction and property development solutions provider subsidiary, MGB Berhad (MGB), both clinched silver awards at The Edge Malaysia ESG Award 2023 on Nov 7, at the Grand Ballroom, Hilton Kuala Lumpur.
LBS won in the Most Improved Performance Over Three Years category under the RM300mil to RM800mil Market Capitalisation tier, while MGB’s was in the Construction category.
Receiving the awards were LBS deputy chief executive officer Lucas Lim Kim Kiat and group sustainability head Shany Lim Chew Yee.
LBS chief executive officer and MGB group managing director Datuk Wira Joey Lim Hock Guan commented: “This acknowledgement is a testament to our unwavering dedication to operate our businesses responsibly.
“Both organisations have been on overdrive to endeavour toward greater environmental stewardship, social responsibility, and sound governance practices.
“Therefore, this recognition serves as a timely validation of our ongoing efforts to seamlessly integrate ESG principles into the core of our operations.
“With the future of the coming generations in our sight, we believe that sustainable development is not merely a choice; it is a responsibility we owe to our planet and the communities we serve.”
In tandem with this recognition, both LBS and MGB are reaffirming their commitment to elevating ESG standards within their business operations.
In May 2023, both companies declared their support for the Task Force on Climate-related Financial Disclosures.
As part of the companies’ comprehensive sustainability strategy, a comprehensive roadmap towards achieving Net Zero Carbon Emissions by 2050 was detailed.
This approach encompasses both short-term and long-term strategies, with a strong emphasis on integrating greater ESG principles into the business strategy and operations that involve proactive measures.
These include an impactful decarbonisation strategy featuring internal carbon pricing, adoption of sustainable procurement and supply chain practices and the introduction of an innovative green lease programme in collaboration with the companies’ tenants.
The Edge Malaysia ESG Award is a collaborative effort between Bursa Malaysia and FTSE Russell.