RHB extends RM90 mln sustainability-linked facility to ISF
LUMPUR: RHB Bank Berhad (RHB Bank) has inked an agreement to provide a Sustainability-Linked Facility (SLF) of RM90 million to Intercontinental Specialty Fats Sdn Bhd (ISF), a wholly-owned subsidiary of The Nisshin Oillio Group Ltd (NOG).
The NOG is Japan’s largest edible oil manufacturer while ISF stands as one of the world’s leading specialty fats and oils manufacturers.
Under the SLF terms, ISF will enjoy rebates upon achieving the pre-agreed Sustainability Performance Targets (SPTs).
These SPTs drive significant and measurable progress in key areas of ISF’s operations, supply chain engagement and client requirements, contributing to a more sustainable palm oil industry.
Mohd Rashid Mohamad, group managing director/group chief executive officer of RHB Banking Group said, “RHB is committed to driving the adoption of sustainable practices across our business and operations.
“The sustainability-linked facility extended to ISF not only embodies our shared vision to sustainable development but also solidifies RHB’s role as a catalyst of positive change, through collaborative efforts and mutual commitment to sustainability and financial success.
“We are delighted to have the opportunity to support ISF on their sustainability journey and business growth through this Sustainability-Linked Facility.”
Takashi Ishigami, chief executive officer of ISF said, “As the CEO of the Intercontinental Specialty Fats, I am thrilled to announce our collaboration with RHB Bank for a Sustainability-Linked Facility.
“This partnership exemplifies our shared commitment to sustainability and ESG principles, empowering us to advance impactful initiatives for a greener and more inclusive future.
“Together, we’re driving positive change and building a more sustainable world.”