UEM Group managing director Amran Hafiz Affifudin said the funds, to be deployed in the next 24 months, are part of the group’s agenda to spur domestic and foreign direct investments that will lead to job creation.
“Operating in a sustainable industrial park is one of the top priorities for foreign investors, especially manufacturers,” he said.
Amran, who is also UEM Lestra chairman, pointed out that investors are now “hungry” for zero-emission operations.
“Initiatives such as the decarbonisation of industrial parks are expected to boost the local economy, drive sustainable growth and position Malaysia as a key global player,” he said.
He said the group needs to explore avenues to set up new sustainable industrial parks and decarbonise existing ones by upgrading current infrastructure.
“This can potentially involve the integration of renewable energy sources and the implementation of other advanced energy management systems and technology to optimise consumption patterns,” he said.
In the same statement, UEM Group said UEM Lestra aims to be at the forefront of efforts to drive the transition towards a sustainable economy and leading the response to climate change in line with Malaysia’s aspiration to achieve net-zero carbon emissions by 2050.
It said plans for a new renewable energy industrial park are already in the works, with UEM Lestra having announced in July 2023 that it is pioneering the development of a one-gigawatt hybrid solar photovoltaic power plant integrated with an RE industrial park in the country.
UEM Lestra CEO Harman Faiz Habib Muhamad said the company is looking at expanding its green assets and operations through strategic partnerships as well as via direct and active ownership.
It plans to nurture domestic green champions such as Cenergi SEA Bhd, which it acquired last year.
“Over the long-term, we plan to establish a competitive green platform in key energy sectors and emerging growth areas, such as renewables and storage infrastructure, integrated energy solutions, green and electric mobility as well as waste management and recycling.
“These initiatives will be funded through our overall RM7 billion sustainable and responsible investment sukuk programme,” he added.