Ms. Naparat Sriwanvit, Chief Financial Officer and Senior Executive Vice President, Finance, Accounting and Risk Management and Excellence and Sustainable Development Central Pattana plc, said: "The offering of a 'green bond' is one of the company's plans to focus seriously on a 'better planet' following the United Nations Sustainable Development Goals and the 'Journey to Net Zero' plan by 2050.
Central Pattana considers this an important commitment for all of us as a representative of the private sector that has been tied to Thai society for over 40 years that wishes to pass on a better environment to the planet. We have, therefore, become the first company in the Thai real estate and retail industry to launch a 'green bond' and our institutional investors have given great feedback on this project."
The issuance of the bond that Central Pattana is offering to institutional investors in the amount of 2 billion baht will be distributed by United Overseas Bank (UOB Thailand), and consists of 3-year green bonds worth 1 billion baht and unsubordinated, unsecured, 3.5-year bonds worth 1 billion baht. The objective of the project is to use the proceeds from the issuance of the green bonds for projects or assets related to renewable energy, sustainable water and wastewater management, energy efficiency improvement, green buildings and other environmentally-related projects for the company's businesses or affiliates. The projects will meet the criteria specified in the Green Finance Framework, following the Green Bond Principles (GBP) and ASEAN Green Bond Standards (ASEAN GBS), with DNV Business Assurance Australia Ltd., as an independent reviewer. The bond has been rated as 'AA credibility' with a 'stable' outlook by TRIS Rating Co., Ltd.
Central Pattana plc has continuously operated its business for sustainability and prioritized the environment. It is the first and only real estate company in Thailand that has been a member of the Global Sustainability Index, DJSI World for four consecutive years and DJSI Emerging Markets for eight consecutive years, and aims to be Thailand's first mixed-use developer with a long-term plan to achieve net-zero carbon emissions by 2050. The company is continuing with its commitment to the 'Journey to Net Zero' concept and 'Imagining better futures for all' with a roadmap to reduce CO2 business emissions down to net zero. The company's shopping centers, residences, office buildings and hotels nationwide will reduce their energy consumption by 50%, minimize the use of CFCs and pollutants that destroy the atmosphere as well as promoting the use of clean energy by 50%. We also aim to plant 1 million trees to expand the green area both inside and outside our projects as soon as possible.
Watch video clips of Central Pattana's sustainability activities at: https://www.youtube.com/watch?v=zFhIwv__5e8