KUALA LUMPUR: Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust (Sunway REIT), has secured three prestigious recognitions in November this year, continuing its leadership in environmental, social and governance (ESG) practices among Malaysian corporates.
Sunway REIT emerged as the Silver Excellence Award recipient for companies with RM2 billion to RM10 billion in market capitalisation at the National Annual Corporate Report Awards (NACRA) 2023, an award dedicated to recognising corporate and sustainability reporting.
This is the 12th consecutive time Sunway REIT has won an acknowledgement from NACRA, cementing its position as the governance and reporting leader in the Malaysian REIT landscape.
Earlier in the same month, Sunway REIT won the Silver award in the REIT category at The Edge Malaysia ESG Awards—Equity Awards.
The awards honoured 38 of the best ESG performers among Malaysian corporates, highlighting their achievements in their respective industries and reaffirming Sunway REIT's dedication and leadership in sustainability practices among Malaysian REITs.
Sunway REIT chief executive officer Clement Chen said the company is honoured by the various ESG recognitions that reaffirm its efforts in fostering sustainable practices aligned with the United Nations Sustainable Development Goals.
"However, we believe that sustainability is still very much an ongoing journey, and Sunway REIT remains resolute in creating a real positive impact on the environment and generating enduring value for our multiple stakeholders as we uphold our responsibilities in ESG," he said in a statement.
The accolades received add on to other ESG achievements by Sunway REIT earlier in the year, where Sunway REIT leapt from a BB to an A MSCI ESG rating in August 2023, achieving an impressive two-notch improvement and underscoring its proactive management of financially relevant ESG risks and opportunities.
MSCI ESG rating assessment is widely embraced as a critical decision support tool in capital markets worldwide and aims to measure a company's resilience to long-term ESG risks.
Further, in October, Sunway REIT received a Global Real Estate Sustainability Benchmark (GRESB) 3-star rating and was rated A for public disclosure, placing Sunway REIT among the top 60 per cent of global participants in the real estate industry.
GRESB real estate assessment is an international ESG benchmarking tool for real estate investments, providing standardised and validated data to the capital markets.
Sunway REIT is among the Malaysian real estate industry pioneers to submit for a GRESB rating as it seeks to break new ground in sustainability practices and bring itself to match the ESG standards of worldwide peers.
As Sunway REIT continues its journey towards sustainable development, it looks to shape a future where environmental stewardship, social responsibility, and sound governance converge seamlessly for a better society for all.