CIMB Thai Bank pcl

11/30/2023 | Press release | Distributed by Public on 11/30/2023 04:05

AWC and CIMB Thai sign the Bank’s first sustainability-linked loan valued at THB 3,000 million to align with their sustainability goals and enhance Thailand as a global[...]

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AWC and CIMB Thai sign the Bank's first sustainability-linked loan valued at THB 3,000 million to align with their sustainability goals and enhance Thailand as a global sustainable tourism destination

30 November 2023 - Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group,collaborated with CIMB Thai Bank, a member of the CIMB Group - a leading ASEAN-focused bank and one of the region's foremost corporate advisors, to sign a Sustainability- Linked Loan valued at THB 3,000 million, reaffirming their commitment to conduct business based on sustainable development principles. This collaboration focuses on aligning AWC's business operations with sustainable goals, reducing resource consumption and promoting energy efficiency in all dimensions, while creating value for all stakeholders throughout the value chain, and strengthening Thailand as a global sustainable tourism destination.

Mr. Paul Wong Chee Kin, President and CEO of CIMB Thai Bank PCL, said, "CIMB Thai is delighted to collaborate with AWC in strengthening Thailand's real estate industry. The aforementioned loan is the Bank's first loan to be linked to sustainability efforts and has a value of THB 3,000 million. This loan aims to support AWC's project development that integrates sustainability. It also resonates with CIMB Group's sustainable finance target of RM100,000 million (THB 770,000 million) by 2024 under the Group's Green, Social, Sustainable Impact Products and Services ("GSSIPS") Framework. We are confident that AWC, as a leading real-estate company with crucial importance to Thailand's tourism and economy, will use our first sustainability-linked loan to contribute significantly to the growth of sustainable development in Thailand's real estate and tourism industries based on sustainable development principles and set internationally recognized exemplary practices".

Mrs. Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited or AWC, said, "AWC is delighted to collaborate with CIMB Thai, a leading financial group with a strong regional network, marking the bank's inaugural foray into sustainability-linked loans. AWC will use the loan to support our operations for environmental sustainability efficiency, in line with Sustainability Performance Targets (SPTs), aiming to conduct a sustainable operations by reducing greenhouse-gas emissions and adhering to the standards outlined in the MSCI ESG Rating. AWC is confident that this collaboration with CIMB Thai represents the synergy of both partner's shared vision to drive Thailand's real estate industry towards sustainability".

Currently, more than 76% of AWC's long-term loans are linked to sustainability. The Company aims to increase the proportion of long-term loans linked to sustainability to 100% in order to create a sustainable future for the country. AWC will utilize these credits to support operations under the sustainable development framework consisting of the 3 pillars, or 3 BETTERs, which are BETTER PLANET, BETTER PEOPLE and BETTER PROSPERITY. For BETTER PLANET, AWC has consistently elevated building standards in energy efficiency dimensions. In 2022, the Company achieved a 20.6% reduction in greenhouse gas emissions compared to 2019. Moreover, the Company has collaborated with partners in the implementation of climate-change initiatives in the "AWC Stay to Sustain" project to conserve and restore trees in community forests across Thailand. These efforts align with AWC's roadmap in becoming a carbon-neutral organization by 2030.

AWC is committed to operating its businesses based on its sustainable development strategies for sustainable growth and is ready to create value for stakeholders across all sectors. The Company actively participates in various sustainability standards, both domestically and internationally. In 2023, AWC was selected as the "Top 1% S&P Global ESG Score 2022", and received a "AA" rating from MSCI ESG Rating. The Company was also listed in the SET ESG Ratings 'A' in the Property & Construction sector and entered the Thailand Sustainability Investment Index from the Stock Exchange of Thailand. In addition, 25 of AWC's affiliated hotels and shopping centers received a STAR (Sustainable Tourism Acceleration Rating) certification from the Tourism Authority of Thailand. These accolades reflect AWC's commitment to conduct business according to Environmental, Social, and Governance (ESG) principles, in line with its mission of "Building a Better Future."

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