LBS honoured with 2024 World Sustainable Property Icon Leadership Lifetime Achievement award
The conferment of the award is a fitting recognition of Tan Sri Datuk Sri Ir (Dr) Lim Hock San's dedication.
SHARIFAH SHAHIRAH
SHAH ALAM - Malaysian developer LBS Bina Group Bhd has been awarded the 2024 ‘World Sustainable Property Icon Leadership Lifetime Achievement Award’.
This prestigious accolade was presented today at the JEN Penang Georgetown by Shangri-La. LBS Group Executive ChairmanTan Sri Datuk Sri Ir (Dr) Lim Hock San received this honour from Penang State Governor, H.E. Tun Datuk Seri Utama Ahmad Fuzi Haji Abdul Razak, in recognition of Lim's outstanding contributions to sustainability in the property sector.
Lim's leadership has been instrumental in steering LBS towards these remarkable achievements. The conferment of the ‘World Sustainable Property Icon Leadership Lifetime Achievement Award’ is a fitting recognition of his dedication to sustainability and his significant contributions to the real estate industry.
LBS has made significant strides in sustainability. The company initiated its Sustainability Working Team in 2016, marking the commencement of its systematic approach to sustainability.
By 2021, LBS had published its first standalone Sustainability Report and formed both a Board-Level Sustainability Committee and a dedicated Group Sustainability team. These initiatives highlighted the company's commitment to integrating sustainability into its core operations and governance.
In 2022, LBS Bina was recognised in the FTSE4Good Bursa Malaysia indices (F4GBM, F4GBMS), earning a 3-star rating, which exemplifies the company’s adherence to high environmental, social, and governance (ESG) standards.
Building on this momentum, in 2023, LBS Bina developed a comprehensive Net Zero Carbon Emissions by 2050 Roadmap, setting clear short, medium, and long-term strategies and targets.
This dedication to reducing carbon emissions and enhancing sustainability practices was further acknowledged when LBS Bina received the award for the most improved performance at The Edge Malaysia ESG Awards 2023.
Continuing its pioneering efforts in 2024, LBS Bina introduced a voluntary Internal Carbon Pricing mechanism at the Group level and established a Sukuk Wakalah Programme of up to RM 750 million.
These initiatives stressed LBS Bina's dedication to sustainable finance and reinforce its position as a pioneer in integrating ESG (Environmental, Social, and Governance) principles into the real estate sector.
In 2023, LBS achieved significant economic, environmental, social, and governance advancements. Economically, the company launched a Sukuk Wakalah Programme valued at up to RM 750 million, achieving a 'GOLD' Impact Bond Assessment by MARC and a credit rating of AA-IS. LBS Bina also made history as Malaysia's first real estate developer to issue an ASEAN Social Sri Sukuk Wakalah worth RM 200 million.
Environmentally, LBS Bina has implemented solar panels at strategic locations such as the LBS HQ Rooftop, KITA @ Cybersouth sales gallery, and the MGB IBS precast concrete factory. These installations reflect LBS Bina's tangible commitment to renewable energy and reducing its carbon footprint.
On the social front, the LBS Foundation has made a profound impact by benefiting 421,795 external beneficiaries and contributing RM 1.68 million to various community initiatives. This highlights LBS Bina’s strong commitment to social responsibility and fostering community development.
In terms of governance, LBS has been a leader by ensuring women comprise 37.5 per cent of its Board, demonstrating a significant commitment to gender diversity and inclusive governance practices.
