Sunway REIT first in Malaysia to introduce Green Lease Partnership Programme

• Prominent tenants are The Body Shop, Muji, L’OCCITANE, Starbucks Coffee, Roche (Malaysia), Accenture Technology Solutions, and Sunway Hotels.
• They have “committed to partner Sunway REIT in the Sunway Green Lease Partnership Programme, reaffirming their shared commitment to sustainability”.

PETALING JAYA (Jan 19): Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust (Sunway REIT), today announced that Sunway REIT is the first real estate investment trust (REIT) in Malaysia to introduce a Green Lease Partnership Programme for its tenants and hotel lessees.

According to a media release by the REIT, the programme was established to encourage best international practices in sustainability and drive sustainable solutions through behavioural change, while boosting Malaysia’s commitment to net zero carbon emissions by 2050.

Some of Sunway REIT’s “prominent tenants are The Body Shop, Muji, L’OCCITANE, Starbucks Coffee, Roche (Malaysia), Accenture Technology Solutions, and Sunway Hotels. They have all “committed to partner Sunway REIT in the Sunway Green Lease Partnership Programme, reaffirming their shared commitment to sustainability.

These global brands “have long embraced and cultivated sustainable practices within their respective organisations as well as product and services offerings”.

Sunway REIT stated that it will “continuously strive to achieve decarbonisation according to Scope 1, 2 and 3, benchmarked against best emissions reporting practices”.

“Moving beyond reduction of Scope 1 and 2 emissions, which are generally within the control of an organisation, the implementation of the Green Lease Partnership Programme is Sunway REIT’s latest initiative to promote and engage with its stakeholders to reduce Scope 3 emissions. 

“Scope 3 emissions are the result of activities not controlled by the organisation but by organisations in its value chain such as suppliers or customers,” it added.

“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,” said Sunway REIT chief executive officer Datuk Jeffrey Ng.

“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,” added Ng.

Sunway REIT aims to achieve 100% tenant participation in the Green Lease Partnership Programme, which is introduced to all Sunway REIT properties across the retail, hotel, office, services and industrial & others segments.

The REIT has also pledged to achieve net zero carbon emissions by 2050, which is in line with the Putrajaya’s commitment of being carbon-neutral by 2050 as outlined in the 12th Malaysia Plan.

Aiming for net zero by 2050, Sunway REIT has set “an interim target to halve emissions by 2030 by focusing on reducing residual emissions by 45% through improving energy efficiency and using energy substitution”.

Sunway REIT’s sponsor, Sunway Berhad, is among the first corporation in Asia, and the first in Malaysia, to implement an internal carbon pricing framework into its business to push the net zero agenda.