HSBC and Mitr Phol Group Announce 800-Million-Baht Green Loan Agreement
The partnership aims to enhance sustainability within Thailand's sugar production sector.
HSBC Thailand has entered into an 800-million-baht green working capital loan agreement with Mitr Phol Group, a leading player in the global sugar market and the foremost green energy producer in Southeast Asia.
The agreement was announced at a recent event where executives from both companies emphasized their commitment to sustainability in the sugar production value chain.
Mitr Phol Group, recognized as the world's fourth-largest sugar producer, has made significant strides in sustainable practices since securing the Bonsucro certification in 2016. This certification represents the leading global standard for sustainable sugarcane and sugar production, positioning the company as a pioneer in environmental stewardship within the agricultural sector.
The funding provided through this loan is intended to support Mitr Phol’s ongoing operations, with a focus on enhancing sustainability initiatives.
HSBC’s involvement aligns with the bank’s commitment to aiding clients in their transitions towards a net-zero global economy, in line with its broader environmental goals.
Both companies highlighted their long-standing partnership, with Giorgio Gamba, chief executive and head of banking at HSBC Thailand, stating that this relationship has facilitated support for Mitr Phol’s growth across three countries: Thailand, Indonesia, and China.
Gamba expressed pride in being a trusted partner, leveraging HSBC's expertise in sustainable financing.
Art Medhapipatkul, chief financial officer at Mitr Phol, underscored the company’s dedication to sustainable business practices, which prioritize the welfare of local communities and environmental protection.
He stated, "Sustainability has always been at the core of Mitr Phol," and reiterated the company’s commitment to its 'Growing Together' ethos, aiming to empower communities while driving climate action and benefiting the economy, society, and the environment.
This agreement serves as a significant step towards achieving Mitr Phol’s sustainability targets, which include carbon neutrality by 2030 and net-zero emissions by 2050. The collaboration illustrates a growing trend among corporations in Southeast Asia to prioritize sustainability and environmental responsibility in their operational frameworks.
The agreement was announced at a recent event where executives from both companies emphasized their commitment to sustainability in the sugar production value chain.
Mitr Phol Group, recognized as the world's fourth-largest sugar producer, has made significant strides in sustainable practices since securing the Bonsucro certification in 2016. This certification represents the leading global standard for sustainable sugarcane and sugar production, positioning the company as a pioneer in environmental stewardship within the agricultural sector.
The funding provided through this loan is intended to support Mitr Phol’s ongoing operations, with a focus on enhancing sustainability initiatives.
HSBC’s involvement aligns with the bank’s commitment to aiding clients in their transitions towards a net-zero global economy, in line with its broader environmental goals.
Both companies highlighted their long-standing partnership, with Giorgio Gamba, chief executive and head of banking at HSBC Thailand, stating that this relationship has facilitated support for Mitr Phol’s growth across three countries: Thailand, Indonesia, and China.
Gamba expressed pride in being a trusted partner, leveraging HSBC's expertise in sustainable financing.
Art Medhapipatkul, chief financial officer at Mitr Phol, underscored the company’s dedication to sustainable business practices, which prioritize the welfare of local communities and environmental protection.
He stated, "Sustainability has always been at the core of Mitr Phol," and reiterated the company’s commitment to its 'Growing Together' ethos, aiming to empower communities while driving climate action and benefiting the economy, society, and the environment.
This agreement serves as a significant step towards achieving Mitr Phol’s sustainability targets, which include carbon neutrality by 2030 and net-zero emissions by 2050. The collaboration illustrates a growing trend among corporations in Southeast Asia to prioritize sustainability and environmental responsibility in their operational frameworks.
