19 December 2023

KBank provides 10 billion Baht in sustainability-linked loan to GC to support its sustainability goals

KASIKORNBANK (KBank) has offered a 10-billion Baht sustainability-linked loan (SLL) to PTT Global Chemical Public Company Limited (GC) in support of the company’s sustainability operations towards the goal of net zero greenhouse gas emissions by 2050.

Dr. Kongkrapan Intarajang, Chief Executive Officer and President, PTT Global Chemical Public Company Limited, said, “GC has operated business with a balanced approach in ESG dimensions. Driven by our ‘3 Steps Plus’ strategy, we are focusing on sustainable growth for ‘high value and low carbon’ business to achieve the net zero goal by 2050, as evidenced by our well-defined plan and concrete progress. This loan accommodation is not only instrumental in driving us closer to our ambitions but also demonstrates that GC and KBank are strategic partners with a shared vision for sustainable business practices.”

Additionally, GC is the first and only company in the world that has been selected as a member of the Dow Jones Sustainability World Index (DJSI World) in the chemical business sector, with the highest score for five consecutive years, reaffirming its position as a global sustainability leader.

Ms. Kattiya Indaravijaya, KBank Chief Executive Officer, said, “KBank, as a financial institution, is committed to supporting and promoting sustainable financing and investment. With this in mind, KBank aims to extend 100-200 billion Baht in sustainable financing and investment by 2030 in line with its Net Zero Commitment. This endeavor aims to help advance the business sector so that it can adjust and engage in more environmentally friendly business practices while also creating sustainability for society and collaborating in the transformation of Thailand towards a net zero economy, and building long-term sustainability for the country’s economic and social systems.”

KBank is confident that this collaborative effort will help drive PTT Global Chemical Public Company Limited (GC), the Bank’s long-standing business partner, to achieve the company’s net zero goal by 2050. The sustainability-linked loan (SLL) that KBank has provided to GC is a long-term loan with sustainability performance indicators, namely reduction of greenhouse gas emissions and adherence to criteria of the Dow Jones Sustainability Indices (DJSI).