Thailand’s first sustainability-linked Trade Finance facility inaugurated

Indorama Ventures Public Company Limited, a global sustainable chemical company, and Sumitomo Mitsui Banking Corporation (SMBC) signed Thailand’s first sustainability-linked Trade Finance facility of US$50 million.

The new facility is short-term working capital finance linked to Indorama Ventures’ sustainability performance targets, including reducing greenhouse gas (GHG) emissions intensity by 10% by 2025 (from a 2020 base), increasing post-consumer PET bale input for recycling to 750,000 tons by 2025, and boosting renewable electricity consumption to 25% by 2030.

Indorama Ventures and SMBC inaugurate the first sustainability-linked Trade Finance facility in Thailand.

“We are dedicated to embedding sustainable finance into every aspect of our daily operations as we build towards achieving our ESG (Environmental, Social, and Governance) targets,” stated DK Agarwal, Deputy Group CEO and Group CFO at Indorama Ventures.

“It is evident that financial services play a pivotal role in accelerating the global transition toward our net zero future,” said Rajeev Kannan, Co-Head Asia Pacific Division, SMBC.

Indorama Ventures has secured a total of US$2.4 billion in long-term sustainable financing from various national and international financial institutions between 2018–2022.