TheReporterAsia – Siam Commercial Bank (SCB) and IRPC Public Company Limited (IRPC) have signed Thailand’s first Sustainability-Linked Forward Contracts, marking a significant step for Thai businesses in driving economic growth alongside sustainable social and environmental practices.
Sustainability-Linked Forward Contracts are financial instruments that integrate Environmental, Social, and Governance (ESG) policies with financial risk management. These contracts include conditions linked to an organization’s sustainability goals, offering financial benefits when these ESG targets are met.
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Mr. Patrick Poulier, Executive Vice President and Head of Financial Markets at SCB, stated, “SCB is committed to driving Thai society towards sustainability, with a Net Zero target by 2050 for both our own operations and greenhouse gas emissions from our loans and investments.”
Mr. Pichet Apiwantanaporn, Executive Vice President of Accounting and Finance at IRPC, said, “This Sustainability-Linked Forward Contracts transaction reflects IRPC’s dedication to sustainable business practices, prioritizing environmental care, social responsibility, and good governance.”
The collaboration between SCB and IRPC not only helps IRPC manage financial risks effectively but also encourages investment in environmentally friendly projects. This will lead to reduced greenhouse gas emissions and create a positive impact on society and the economy at large.
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