AdminSunway Real Estate Investment Trust (Sunway REIT), is Malaysia’s first Real Estate Investment Trust (REIT) to implement a Green Lease Partnership Programme for all of its tenants and hotel lessees.
Sunway REIT tenants including The Body Shop, Muji, L’OCCITANE, Starbucks Coffee, Roche (Malaysia), Accenture Technology Solutions, and Sunway Hotels have agreed to join the Sunway Green Lease Partnership Programme, reaffirming their shared commitment to sustainability.
These international brands have long embraced and developed sustainability practices inside their own business as well as their supply of goods and services.
The Memorandum of Understanding (MoU) was created with important targets for improving energy efficiency, water conservation, and waste diversion from landfills that were set based on Science-Based Targets.
Pursuing carbon reduction
Sunway REIT is constantly striving for decarbonisation in accordance with Scopes 1, 2, and 3, as measured against best emissions reporting practises. Scope 1 and Scope 2 emissions are frequently under an organization’s authority, whereas Scope 3 emissions are the result of activities by an organization’s value chain, such as suppliers or customers.
The Green Lease Partnership Programme is the company’s most recent initiative to promote and engage with its stakeholders in order to reduce Scope 3 emissions.
“At Sunway REIT, we believe that building a sustainable future requires the commitment of all components of society. We are pleased to have our tenants and hotel lessees on board with the Sunway Green Lease Partnership Programme and strive towards a carbon-neutral Malaysia. We are confident that our target of 100% tenant participation in the Green Lease Partnership Programme will be achieved before or by 2030, and we will continuously work closely with our stakeholders to reduce Scope 3 emissions,” said Sunway REIT Chief Executive Officer Dato’ Jeffrey Ng.
Sunway REIT aims for 100% tenant participation in the Green Lease Partnership Programme, which is being implemented across all Sunway REIT properties in the Retail, Hotel, Office, Services, and Industrial & Others segments.
In order to broaden the initiative’s reach and impact Sunway’s retail arm and one of Malaysia’s largest shopping mall owners and operators, Sunway Malls, has also introduced the green lease partner programme to all of its retail malls across Malaysia in addition to the three Sunway REIT retail properties.
Toward achieving net zero by 2050
This programme was created to promote best international practises in sustainability and to drive sustainable solutions through behavioural change, thereby advancing Malaysia’s national commitment to net zero carbon emissions.
Sunway REIT has pledged to achieve net zero carbon emissions by 2050, in line with the Government’s commitment in the 12th Malaysia Plan to be carbon-neutral by 2050.
Sunway REIT has set an interim target of halving emissions by 2030 by focusing on reducing residual emissions by 45% through improved energy efficiency and energy substitution, with the goal of reaching net zero emissions by 2050.
Sunway Berhad, the company that sponsors Sunway REIT, is among the first in Asia and Malaysia to implement an internal carbon pricing structure to advance the net zero objective.
CJMY
