KUALA LUMPUR (April 22): Wilmar International Ltd and Credit Agricole CIB announced that the former’s US$100 million two-year sustainability-linked facility has been closed.
The margin of facility is connected to Wilmar’s performance of the sustainability-linked key performance indicators (KPIs), where the achievement of each KPI is accorded a specified discount and the margin will be reduced by the aggregate of discounts applicable for the KPIs achieved, said the companies in a statement today.
This is the second such facility Credit Agricole CIB has issued to Wilmar, following the first one in 2019.
“The KPIs for this sustainability-linked facility with Credit Agricole CIB have been carefully selected to make the most meaningful impact across Wilmar’s supply chain. They include Wilmar’s continued inclusion in the Dow Jones Sustainability Index (DJSI) Asia Pacific, achievements and/or improvements in benchmark rating by independent organisations and traceability targets. Wilmar is a sustainability frontrunner in the agri-food sector.
“In 2020, it was included in the DJSI Asia Pacific, which represents the top 20% of the 600 largest companies in the region based on long-term economic, environmental and social criteria. It is the only agribusiness amongst the five Singapore companies included in the DJSI Asia Pacific,” said both companies.
Wilmar’s chief financial officer Charles Loo said the company’s adoption of sustainable financing shows its commitment to sustainability goals, which permeate every aspect of its business operations.
“We believe that by taking a holistic approach towards building a responsible business, Wilmar will achieve long-term growth and create value for our stakeholders. We are grateful to have Credit Agricole CIB’s support as we take another step in our pursuit of continuous improvements in our sustainability performance. Together with like-minded partners, Wilmar hopes to create a more positive impact on the way businesses operate,” he added.
