PHB upgraded to Gold1 sustainability rating by RAM Sustainability

• PHB also received a Platinum rating for its Social pillar—the highest possible score and an improvement from Gold3 previously in the review.

PETALING JAYA (Dec 10): Pelaburan Hartanah Bhd (PHB), has achieved an upgrade of its Corporate Sustainability Rating to Gold1 from Gold3, following RAM Sustainability Sdn Bhd’s latest annual assessment.

In a joint statement on Tuesday, PHB, a property investment company, also received a Platinum rating for its Social pillar—the highest possible score and an improvement from Gold3 previously in the review.

The Environmental pillar rating was raised to Gold2 from Silver3, while the Governance pillar was maintained at Gold2.

PHB group managing director and CEO Mohamad Damshal Awang Damit said the latest rating reflects progress in the group’s sustainability initiatives.

“The upgrade of our overall Sustainability Rating to Gold1 marks a significant milestone in PHB's sustainability journey. We are equally proud to have achieved a Platinum rating for our Social performance,” he said.

He added that PHB remains committed to its 3-Year Risk Strategy Blueprint and Environmental Roadmap 2030, noting that the integration of Environmental, Social and Governance (ESG) criteria into its supply chain and its focus on socioeconomic empowerment initiatives are intended to deliver positive outcomes for tenants, investors and the broader community.

RAM Sustainability CEO Gladys Chua said PHB’s rating upgrade highlights the group’s continued adoption of sustainability best practices.

“It underscores the group’s commitment to environmental stewardship as well as social initiatives that support socioeconomic empowerment and inclusive local growth for the Bumiputera community,” she said.

According to RAM Sustainability, which provides sustainability services and ESG analytics, the Platinum Social rating reflects PHB’s role in supporting Bumiputera participation in real estate through the Shariah-compliant Amanah Hartanah Bumiputera (AHB) unit trust fund. PHB’s tenant-centric approach, supported by digital engagement tools, contributed to an 81% tenant satisfaction score.

The Environmental pillar upgrade was attributed to enhancements in supply chain practices. For the 2024–2025 financial period, PHB incorporated environmental and social criteria—including climate action, energy efficiency and human rights—into its Vendor Performance Assessment. 

The group also expanded its G.R.E.E.N. Policy and targets increasing its share of green-certified assets to 37% by 2025.

Although PHB is not subject to listing requirements, it maintains governance standards aligned with publicly listed entities. The group said it has published its inaugural sustainability report based on the Securities Commission’s Simplified ESG Disclosure Guide.

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