WASCO RECOGNISED FOR SUSTAINABLE FINANCE LEADERSHIP AT FORWARD FASTER SUSTAINABILITY AWARDS 2026

KUALA LUMPUR, Jan 30 (Bernama) -- Prominent energy solutions provider Wasco Bhd has won the Sustainable Finance and Investment category at the Forward Faster Sustainability Awards (FFSA) 2026, highlighting the group’s leadership in embedding sustainability into its financial strategy.

Wasco said the award, organised by the United Nations Global Compact Network Malaysia and Brunei (UNGCMYB), was conferred for its Sustainable Transition Finance Framework (STFF), which is among the first in ASEAN to operationalise the ASEAN Taxonomy for Sustainable Finance within a corporate financing structure.

It said the award reflects the growing regional emphasis on credible and measurable transition practices, where sustainability commitments are increasingly expected to be integrated directly into how organisations raise, structure and manage capital.

Its managing director and group chief executive officer Giancarlo Maccagno said the recognition affirms the group’s belief that sustainability must be embedded in how the company finances its growth.

“Through the STFF, we have created a framework that connects capital allocation with measurable environmental outcomes, strengthening investor confidence while supporting the energy transition,” he said in a statement.

Wasco’s recognition comes as ASEAN economies increasingly adopt taxonomy-aligned standards, highlighting how companies are translating regional policy frameworks into practical financial applications.

STFF, which was developed through close collaboration between Wasco’s sustainability and finance functions, provides a structured approach to aligning capital allocation with environmental and transition objectives, supported by transparent eligibility criteria and measurable performance targets.

“Through the framework, Wasco has secured a US$25 million sustainability-linked loan, converted existing conventional and Islamic facilities into sustainability-linked financing instruments, and established sustainability performance targets aligned with its commitment to achieve Net Zero Scope 1 and Scope 2 carbon emissions by 2026.

“The framework provides lenders and stakeholders with greater clarity on how sustainability commitments translate into financial performance and governance,” the company added.

The recognition follows Wasco’s recent improvement in its FTSE Russell ESG Rating to 4.4, placing the group in the 98th percentile among its Oil Equipment and Services peers.

This was led by a sector-leading Social Theme score of 5.0, providing independent benchmarking that reinforces the credibility of Wasco’s sustainability practices across governance, operations and disclosure.

-- BERNAMA