AWC, SCB Ink THB 20B Loan for Green Mega Projects

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by KnowESG
KnowESG_Sustainable loan for sustainability mega projects in Thailand
Image courtesy of Siam Commercial Bank

Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group, and Siam Commercial Bank (SCB) have joined forces to strengthen their commitment to sustainable development.

They have signed a THB 20,000 million Sustainability Linked Loan and Green Loan to develop high-quality mega projects that will not only become global destinations but also contribute to the country's sustainable tourism goals.

This partnership sets a new industry benchmark by promoting resource conservation, energy efficiency, and value creation for all stakeholders. The loans will support initiatives to improve marine resource sustainability, foster social development, and enhance Thailand's position as a global sustainable tourism hub.

Mr. Kris Chantanotoke, Chief Executive Officer of Siam Commercial Bank, expressed delight in supporting AWC's sustainable development efforts through these loans. The collaboration aligns with SCB's own environmental mission, which aims for net-zero greenhouse gas emissions from its operations by 2030 and from lending and investments by 2050.

The bank is confident in AWC's capabilities and believes the loans will drive the growth of various mega projects, bringing excitement to the real estate industry while supporting Thailand's ambition to become a global sustainable tourism destination.

Mrs. Wallapa Traisorat, Chief Executive Officer and President of Asset World Corp., commended SCB for its commitment to sustainability and recognised AWC's role in strengthening the real estate and tourism sectors.

AWC is dedicated to developing sustainable mega projects, including Asiatique, the Riverfront Destination, Aquatique in Pattaya City Center, Woeng Nakhon Kasem in Chinatown, and Lannatique in Chiang Mai City Center. These projects aim to become global sustainability destinations, aligning with Thailand's strategy of becoming a leader in global sustainable tourism.

AWC is committed to developing buildings that meet international green building standards. Several projects, such as INNSiDE by Meliá Bangkok Sukhumvit and InterContinental Chiang Mai Mae Ping, have already obtained certifications like EDGE and LEED & WELL PRECERTIFIED.

Through partnerships with leading financial institutions, 75% of AWC's long-term loans are now linked to sustainability, with the aim of reaching 100% in the future. The company's sustainable development framework, known as the "3 BETTERs," focuses on creating environmental, social, and economic value.

AWC has implemented various projects to support sustainable development, including biodiversity initiatives and partnerships for sustainable community tourism. Their reConcept business concept promotes the circular economy by reusing and upcycling materials, while The GALLERY supports local communities and entrepreneurs, creating sustainable income opportunities.

AWC also implements an Energy Efficiency Plan (EEP) to reduce greenhouse gas emissions and increase energy efficiency through measures like installing solar panels and using energy-efficient lighting and air conditioning systems.

Mrs. Wallapa emphasised that the agreement signing reflects AWC and SCB's shared vision for sustainable business operations. AWC will continue to implement its sustainability strategy, creating long-term value for stakeholders, the industry, the community, and the country.

The company has received recognition from leading institutions, including an "AA" rating from MSCI ESG Rating, listing in the Thailand Sustainability Investment (THSI), and being featured in the S&P CSA Yearbook 2023 sustainability report. Additionally, AWC holds certifications for good corporate governance and anti-corruption practices.

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Source: Siam Commercial Bank

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