UOB grants $272m sustainability-linked loan to Wilmar
ESG ratings provider Sustainalytics will measure Wilmar’s performance.
United Overseas Bank (UOB) has extended about $272.1m (US$200m) sustainability-linked loan to agribusiness group Wilmar International, a press release said.
UOB and Wilmar has identified a list of indicators in areas including corporate governance, carbon emissions, land use and biodiversity, community relations and supply chain practices.
The interest rate on the loan will be pegged to Wilmar’s achievement of the pre-determined targets that have been set based on the list of performance indicators.
Sustainalytics, an independent provider of environmental, social and governance (ESG) research and ratings, will conduct the assessment of whether Wilmar has achieved those targets on an annual basis.