Krungsri's experience and expertise in developing ESG financial products in partnership with MUFG has led to the bank serving as the Green Structuring Advisor and sole lender for this Green Loan to support SCGP's green activities that meet Technical Screening Criteria as defined by ASEAN and Thailand Taxonomies. The loan funds will be channeled into projects aligning with the Green Financing Framework such as renewable energy, energy efficiency and water management.
Mr. Wichan Jitpukdee, Chief Executive Officer, SCG Packaging Public Company Limited or SCGP, said, "SCGP is fully committed to advancing its sustainable business initiatives within the ESG framework and this presents a valuable opportunity from Krungsri to extend its support through a Green Loan of 3 billion baht over a 5-year term. The funds will be allocated to various projects aimed at boosting the adoption of alternative and renewable energy, with the goal of reducing greenhouse gas emissions by 20 percent by 2030 compared to the 2020 baseline. Furthermore, the company plans to promote energy efficiency and enhance resource reuse. These efforts align with SCGP's main objective of achieving Net Zero greenhouse gas emissions by 2050, fostering robust growth for the company while ensuring sustainability for both society and the environment."
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, said, "Krungsri is committed to supporting ESG Finance by creating financial products that assist businesses as they transition towards sustainability in line with the nation's greenhouse gas reduction initiatives. We are delighted to extend our environmental collaboration by providing green loans to SCGP, a leading organization with a track record of financial strength and sustainable operations. Krungsri is confident that this partnership will support both companies in reaching their environmental objectives of carbon dioxide emission reduction while contributing to the nation's journey towards sustainable development and growth."
Source: MT Multimedia