Megat Jalaludin says the framework serves as a guide forTNB’s investments in emission-reduction activities.Tenaga Nasional Bhd marked a significant milestone in its energy transition journey by establishing its Transition Finance Framework, making it the first electricity utility player in Asean to do so.
The framework is a set of guidelines to reinforce the link between TNB’s financing and energy transition strategy by outlining criteria for existing or new projects that contribute to this transition in adherence with relevant market best practices, including the Asean Taxonomy for Sustainable Finance Version 2 and the Asean Transition Finance Guidance.
TNB president/CEO Datuk Megat Jalaluddin Megat Hassan said, “TNB is delighted to be the first electricity utility player in Asean to establish a Transition Finance Framework. We are proud of the engagement with Maybank in developing TNB’s transition finance framework which will drive forward our energy transition initiatives and accelerate the country’s energy transition programme.
Maybank president & group CEO Datuk Khairussaleh Ramli said, “Maybank is honoured to support TNB in its transition journey and we congratulate TNB for this first-of-its-kind milestone in Asean. With its Transition Finance Framework in place, TNB can unlock the full potential of its investments into low-carbon transition activities whilst setting an example for other carbon-intensive sector players.