Page 42 - GreenRE_Sustainable Real Estate Book

Stakeholder Engagement

STRONG PARTNERSHIPS BRING SUCCESSFUL ENDEAVOURS

GreenRE promotes and drives sustainability in the development and construction sector. It aims to grow the number of high-performance buildings
in the nation and inspire a green lifestyle among the rakyat. Cognisant of the need to bring together the industry’s stakeholders and work cohesively
towards this shared goal, GreenRE has forged ties with numerous industry stakeholders, broadening its reach to activate the adoption of green
initiatives in the real estate space and to advance greentech through R&D activities.

Federal Government

Financial Institutions
Malaysia Green Technology and Climate Change Centre
(MGTC)
As a key representative of the property The introduction of Bank Negara Malaysia’s Climate Change and
development sector in the government’s Principle-based Taxonomy (CCPT) serves as a guide for financial
race to green the nation, GreenRE works institutions in assessing climate risks and enhances their ability
closely with MGTC to equip Local to reduce or mitigate such risks. The financial institutions seek the Construction Industry Development Board (CIDB)
Authorities with the relevant skillset to make the shift towards objective assessment of third party assessors such as GreenRE
low carbon cities by referencing the Low Carbon Cities to provide a certification that serves as an assurance of a green In a move to accelerate the green certification of Malaysia’s
Framework (LCCF). building’s resilience to climate risks and its ability to reduce
carbon footprints. built environment, GreenRE in collaboration with Construction
MyHijau Recognising its central role as a green certification body, GreenRE Research Institute of Malaysia (CREAM), CIDB’s research arm,
formulated a Joint Certification Framework to provide green
Commencing 2021, GreenRE has acquired is working closely with several banks to assist developers to fulfil certification for the entire lifecycle of a building, from design and
the services of MyHijau, the government- the CCPT requirements for green financing. This cooperation will construction to operations, maintenance and end-of-life.
endorsed green products and services not only catalyse the financial flows to sustainable real estate
certification body as its verification partner priorities but create opportunities for a profit-for-purpose journey Under the agreement, GreenRE will serve as the lead certifier
for its GreenRE Rating Tools. that will activate the real estate stakeholders’ capabilities in the for private sector projects, utilising the GreenRE NRB v4.0
ecosystem towards zero carbon intiatives. rating tool, while MyCREST will act as the lead certifier for
Malaysia Investment Development Authority (MIDA) government sector projects, using their MyCREST v2.0 Design
Through the partnership, the respective banks will also encourage and Construction rating tool.
GreenRE works closely with MIDA to their panel of building owners and developers to adopt
assist its Green Building Certification sustainability principles as prescribed by GreenRE for any of Initially, the joint certification will be applicable to new non-
applicants to apply for the green tax their new and existing buildings, while the banks will extend their residential building projects, including retail spaces, shopping
incentives offered by the government through MIDA. It provides products and/or exclusive privileges to GreenRE’s customers. centres, hotels, office buildings, and commercial buildings. The
consultation and guidance to adhere to the eligibility criteria certification for other categories such as existing non-residential
and requirement. This applies to the Green Investment Tax In mobilising this initiative, GreenRE has inked Memoranda of buildings, residential buildings, industrial buildings, and
Allowance (GITA) and Green Income Tax Exemption (GITE). Understanding with several banks. healthcare facilities will be developed in subsequent stages.
31 SUSTAINABLE REAL ESTATE | Our 10-Year Journey