217 OCBC has successfully extended an SGD 16 million ($11.7 million) sustainability-linked loan (SLL) to global textile and apparel manufacturer Ghim Li, utilizing the streamlined process on the ESGpedia platform developed by STACS, an ESG data and technology solutions company. The digitalized process involves ESG data collection via the ESBN Asia-Pacific Green Deal digital assessment on ESGpedia, independently verified by Bureau Veritas. This streamlined approach simplifies self-assessment for companies, offering an automated calculation of GHG emissions, promoting sustainability and making it easier for banks to efficiently extend SLL to businesses. Ghim Li, having achieved a Silver badge in the ESBN Green Deal digital assessment, obtained an SGD 16 million SLL from OCBC, adding to OCBC’s sustainable financing portfolio. The ESGpedia platform facilitates the digital verification of data accuracy, sets sustainability performance targets, and enables continued data submission for monitoring emissions and tracking progress on sustainability targets. The partnership demonstrates a commitment to digitalization, sustainability, and supporting SMEs in their sustainability journeys. Linus Goh, Head of Global Commercial Banking at OCBC, emphasized digitalization as a critical enabler for businesses in pursuing sustainability. Felicia Gan, CEO of Ghim Li, highlighted ESGpedia’s role in simplifying ESG reporting and providing insights into the company’s ESG profile. Benjamin Soh, Managing Director at STACS, emphasized the platform’s role in streamlining sustainable financing processes. ESGpedia’s digital solutions aim to accelerate Asia’s supply chain transition towards sustainable development, providing a one-stop platform for sustainable financing processes. SMEs, facing increasing regulatory requirements, benefit from ESGpedia’s tools, including the ESBN Asia-Pacific Green Deal digital assessment and automatic carbon calculator, offering a guided program to understand GHG emissions and access sustainable financing. The platform, with over five million sustainability data points, enhances credibility through independent verification by Bureau Veritas, supporting a more trustworthy journey towards sustainability. You Might Be Interested In SpaceX to raise $750 million at $137 billion valuation Bank of England holds interest rates at 5.25% Nelson Peltz Pushes for Disney Board Seats Many Japanese sectoral stocks yet to recover from COVID-19 shocks Rouble hits 16-month low as military spending rises and exports fall Premium move put in fix by price slides
