ESG & Investing
Malaysian Palm Grower Ready for Tougher ESG Rules With IPO
- Johor Plantations shares climb on launch in Kuala Lumpur
- Firm is confident about appealing to green-minded Europeans
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Johor Plantations Group Bhd. will use funds raised in its 735 million ringgit ($156 million) initial public offering to build a palm oil operation powered by clean energy, as it navigates increasingly tough regulations in key markets like Europe.
The mid-sized producer is confident about appealing to European consumers thanks to its short, sustainability-certified supply chain and plans to halve its carbon output by next year, Managing Director Mohd Faris Adli Shukery said in an interview ahead of the listing on Tuesday.