PrimeWater to Receive Green-Linked Loan

Published on: 22 August 2022
by KnowESG
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PRIMEWATER Infrastructure Corp. has signed a credit arrangement with Cathay United Bank to cooperate on socially and environmentally sustainable projects.

The collaboration supports PrimeWater's numerous sustainability-related projects, which aim to safeguard the earth, reduce poverty, and ensure that all people live in peace and prosperity. Within the next year, the organisation plans to establish its sustainability roadmap.

Cynthia Javarez, chairman of Prime Asset Ventures Inc., said: 

"PrimeWater understands that commitment to sustainability is the future. This partnership reinforces this commitment as it will strengthen our company's projects and initiatives."

PrimeWater is committed to environmental protection through watershed protection and adoption, cleanup drives, and mangrove tree planting.

Meanwhile, the company helps its communities through additional corporate social responsibility initiatives, such as handwashing hygiene and sanitation stations and micro-enterprise livelihood programmes.

Cathay United Bank senior vice president and general manager for Manila, Joseph Chen, expressed hope that the bank would participate in PrimeWater's projects.

"We are even more driven to strengthen our sustainable financing with PrimeWater as we recognise our common goals and mission," said Chen.

Chen went on to say that the organisation is looking forward to succeeding in this venture together.

Cathay United Bank, a major subsidiary of Cathay Financial Holdings Co. (Cathay FHC), has been working to raise awareness about climate change throughout its activities.

The company generally collaborates with other groups that promote ESG or sustainability principles and science-based targets, among others.

To achieve Cathay FHC's net-zero carbon emission aim of 2050, the organisation implements carbon reduction targets in financial assets, generates green deposits, promotes sustainable finance, and supports renewable energy financing.

Furthermore, Cathay FHC plans to employ 100 per cent renewable energy throughout all of its group operations.

Source: The Manila Times

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