Wilmar Got Green Finance US$ 100 Million from Bank of East Asia

Wilmar Got Green Finance US$ 100 Million from Bank of East Asia

InfoSAWIT, SINGAPORE - Bank of East Asia, Limited (BEA) and Wilmar International Limited (Wilmar) signed a three – year agreement of finance for about US$ 100 million - Sustainability-Linked Loan (SLL). Based on the facility, the interest of loan would be reduced in time if Wilmar gets series of targets which was determined that covered environment, social, and governance (ESG) which should comprehensively be done.

These are the main internal indicators for Wilmar and also external standards. One of the external standards is the assessment in Dow Jones Sustainability Index (DJSI) Asia Pacific which is the environment assessment indicators that has been running since 1999. DJSI Asia Pasifik evaluated big 600 companies in Asia Pacific and confessed 20% of the top ten based on ESG indicators.

Wilmar joins DJSI Asia Pacific since November 2020 – an achievement that reflects its position as the leader of sustainability in agribusiness sectors. In November 2021, Wilmar got 70 point compared to the average score globally that reached 25 points in the same category. Wilmar was one of four Singaporean agribusiness companies in 2021 which was categorized in the index, such as, human resource development, human rights, labor practices, strategies for developing countries, management relationship for customers, risk and crisis management.

General Manager BEA in Singapore, Oh Ah Guat said that this is the same vision of the company as the advance financial institution in sustainability. BEA commits to deliver finance to the companies and projects that will also deliver values for the people and environment.

Chief Financial Officer Wilmar, Charles Loo said that his side is happy for having cooperation with BEA to get the first SLL. Until now since 2017, Wilmar signed more than 10 SLL, secured more than US$ 1,5 billion to fund sustainability. “Everything is part of our holistic approach to integrate our sustainability to our business operation in every level,” Loo said, as in the official statement to InfoSAWIT. (T2)