KBank grants financial facility of 3,000 million Baht to Indorama Ventures
KASIKORNBANK (KBank)has provided 3,000 million Baht in Sustainability-Linked Loan (SLL) to Indorama Ventures, a global sustainable chemical company, to support its sustainable development ambitions.
Indorama Ventures’ sustainability goals encompass a 10-percent reduction in greenhouse gas (GHG) emissions intensity and an increase in post-consumer PET bale input for recycling to 750,000 tons by 2025. These initiatives reflect a collaborative effort towards achieving decarbonization.
Mr.Porvarate Chetphongphan, Executive Vice President of KASIKORNBANK, said, “KBank has a core mission of advancing sustainability at the national and international levels. The Bank stands out as one of the financial institutions in Thailand that has pioneered funding support to strengthen the sustainability operations of our partners over the past several years. On this important occasion, the Bank is proud and honored to be part of the efforts in strengthening sustainability for Indorama Ventures through the Sustainability-Linked Loan. It is the first ever sustainability loan worth 3 billion Baht between KBank and Indorama Ventures that aims to foster balanced growth and steer the two companies toward becoming ESG leaders while being able to manage capital and operate their businesses in an appropriate and sustainable manner with the shared goals of building a circular economy and a low-carbon society.
Mr.Dilip Kumar Agarwal, Deputy Group CEO and Group Chief Financial Officer of Indorama Ventures, said, “We are pleased to obtain and partner with KBank on the Sustainability-Linked Loan, which supports the commitment of Indorama Ventures towards integrating sustainability and embedding sustainable finance in our operational strategy to achieve ESG goals and reaffirms our purpose of reimagining chemistry together to create a better world.”
The Sustainability-Linked Loan (SLL) is a long-term loan that KBank has provided to Indorama Ventures Global Services Co., Ltd. (IVGS), a subsidiary of Indorama Ventures, which is linked to its sustainability objectives to achieve improved sustainability performance: a 10-percent reduction in greenhouse gas (GHG) emissions intensity by 2025 (compared to the 2020 base year), and an increase in post-consumer PET bale input for recycling to 750,000 tons by 2025. Such sustainable performance targets will benefit
all related parties in terms of efficient resource utilization and mitigation of environmental impact. The goal reinforces the company’s determination to reduce GHG emissions, in line with its commitment to creating sustainable business operations for all stakeholders while minimizing activities that contribute to climate change. Additional focus is on advancing its capabilities in technology and innovation to promote recycling activities and items to be used efficiently, cost-effectively, and sustainably. These are crucial tools for addressing issues of climate change based on the principles of a circular economy.
