MOSCOW (MRC) -- Indorama Ventures Public Company Limited, a global sustainable chemical company, and Sumitomo Mitsui Banking Corporation (SMBC), a leading international financial institution, yesterday signed Thailand’s first sustainability-linked Trade Finance facility of USD50 million to support Indorama Ventures’ day-to-day contributions to its ambitious sustainability commitment, said the company.
This new facility reflects Indorama Ventures’ leadership in leveraging sustainable financing in Thailand. The new facility is short-term working capital finance linked to the company’s sustainability performance targets1, including reducing greenhouse gas (GHG) emissions intensity by 10% by 2025 (from a 2020 base), increasing post-consumer PET bale input for recycling to 750,000 tons by 2025, and boosting renewable electricity consumption to 25% by 2030.
We remind, Indorama Ventures Public Company Limited, a global sustainable chemical producer, and Carbios, a biotech company developing and industrializing biological solutions to reinvent the life cycle of plastic and textiles, announce today the signing of a non-binding Memorandum of Understanding (MOU) to form a Joint Venture for the construction of the world’s first PET biorecycling plant in France.
Indorama Ventures has secured a total US$2.4 billion in long-term sustainable financing from various national and international financial institutions between 2018–2022. The funds are supporting the company’s expansion and sustainability projects in line with its strategy under Vision 2030 as a purposeful company with ESG at its core.