LBS group sustainability head Shany Lim (centre), represented Tan Sri Ir Lim Hock San in receiving the World Sustainable Property Icon Leadership Lifetime Achievement Award from Penang Governor Tun Ahmad Fuzi Abdul Razak (second from left), in the presence of World Digital Chamber and KSI Strategic Institute for Asia Pacific president Tan Sri Michael Yeoh (left) and other guests.
PETALING JAYA: LBS Bina Group Bhd executive chairman Tan Sri Ir Lim Hock San has been conferred the 2024 World Sustainable Property Icon Leadership Lifetime Achievement Award.
In a momentous event held at the JEN Penang Georgetown by Shangri-La, Lim was honoured with this prestigious award by Penang Governor Tun Ahmad Fuzi Abdul Razak in recognition of his exceptional contributions to sustainability in the property sector.
Under Lim’s visionary leadership, LBS has made significant strides in sustainability. In 2016, the company established its sustainability working team, marking the beginning of its structured approach to sustainability.
By 2021, LBS had published its first standalone Sustainability Report and formed both a board-level sustainability committee and its dedicated group sustainability team. These initiatives reflect the company's commitment to integrating sustainability into its core operations and governance.
In 2022, LBS was recognised in the FTSE4Good Bursa Malaysia indices (F4GBM, F4GBMS), earning a three-star rating, which exemplifies the company’s adherence to high environmental, social and governance (ESG) standards. Building on this momentum, in 2023, LBS developed a comprehensive Net Zero Carbon Emissions by 2050 Roadmap, setting clear short, medium, and long-term strategies and targets. This dedication to reducing carbon emissions and enhancing sustainability practices was further acknowledged when LBS received the award for the most improved performance at The Edge Malaysia ESG Awards 2023.
Continuing its pioneering efforts in 2024, LBS introduced a voluntary Internal Carbon Pricing mechanism at the group level and established a Sukuk Wakalah Programme of up to RM750mil. These actions reflect LBS's commitment to sustainable finance and position the company as a leader in integrating ESG principles into the real estate sector.
In 2023, LBS achieved significant economic and ESG advancements. Economically, the company launched the Sukuk Wakalah Programme, receiving a 'Gold' Impact Bond Assessment by MARC and a credit rating of AA-IS. LBS also became the first real estate developer in Malaysia to issue an Asean Social Sri Sukuk Wakalah worth RM200mil.
Environmentally, LBS Bina has installed solar panels at key properties, including the LBS headquarter’s rooftop, KITA @ Cybersouth sales gallery, and the MGB IBS precast concrete factory, demonstrating a tangible commitment to renewable energy and reducing its carbon footprint.
On the social front, the LBS Foundation has made a significant impact, promoted 421,795 external beneficiaries and contributed RM1.68mil to various community initiatives, showcasing LBS Bina’s dedication to social responsibility and community development.
In terms of governance, LBS has been a trailblazer, with women making up 37.5% of its board, a significant representation that highlights the company’s commitment to gender diversity and inclusive governance.
Lim’s leadership has been instrumental in steering LBS towards these remarkable achievements.
Lim’s leadership has been instrumental in steering LBS towards these remarkable achievements.
The conferment of the “World Sustainable Property Icon Leadership Lifetime Achievement Award” is a fitting recognition of his dedication to sustainability and his significant contributions to the real estate industry.
