Asset World Corp Public Company Limited (AWC), Thailand’s leading integrated lifestyle real estate group, in cooperation with Siam Commercial Bank (SCB), reaffirmed their leadership in sustainable development after finalizing a THB 20,000 million agreement on a Sustainability Linked Loan and ESG Linked Interest Rate Swap.

AWC is the first real estate company in Thailand to receive a Sustainability Linked Loan and ESG Linked Interest Rate Swap. Through its mission of “Building a Better Future” mission, AWC has developed robust sustainability strategies that are implemented across every aspect of the business together with its partners, including in promoting the efficient use of energy, resource management and reducing greenhouse gas emissions. AWC’s strategic partnership with SCB will be an important instrument in enhancing the capability of the real estate industry and develop sustainable tourism in Thailand

Arthid Nanthawithaya, Chief Executive Officer, SCBX PCL. states “SCB is the main financial business unit of the SCB X Group. As a leading financial institution of Thailand, the bank is fully aware of its roles in creating a sustainable society and environment. With our strategy “To be a Better Bank”, our focus is on sustainable finance with financial products and services related to sustainable operations to serve the needs of big business that value responsibility for society and environment. SCB is proud to be trusted by AWC to provide a THB 20,000 million Sustainability Linked Loan and ESG Linked Interest Rate Swap. This is the first time a real estate company in Thailand has received such a loan. I admire the vision of AWC’s executive, both for their successful projects with many more currently in development, and the company’s ability to manage through the Covid-19 situation. SCB is confident in the capability of AWC as a leading real estate company which plays an important role in Thai tourism and the economy. I hope that SCBX Group by SCB will continue to cooperate with AWC in other projects in the future. Our “To be a Better Bank” strategy and AWC’s “Building a Better Future” mission will successfully create a better Thai society together.”

Wallapa Traisorat Chief Executive Officer and President, Asset World Corp Public Company Limited (AWC) said that “AWC ‘s mission is “Building A Better Future”, which includes applying sustainable development across every aspect of our business to create long-term value for all stakeholders in the value chain. AWC is committed to sustainable business, such as projects within the hotel group to promote sustainable cities and communities. For example, the Athenee Hotel, a Luxury Collection Hotel, Bangkok is the world’s first ISO 20121 certified hotel for Sustainability Event Management Systems. And Banyan Tree Samui had collaborated with the Department of Marine and Coastal Resources to move the green turtles’ eggs and built nursery zones to protect the eggs from predators. We are pleased and very proud to be trusted by SCB in the agreement of Sustainability Linked Loan and ESG Linked Interest Rate Swap, and that SCB will use our performance in ESG as an important element in the management of this sustainability loan. The loan will be used to develop projects under AWC which will support efforts towards building a better future for sustainable real estate and sustainable tourism in Thailand.”

AWC and SCB together set a new benchmark for real estate industry in Thailand to receive Sustainability Linked Loan and ESG Linked Interest Rate Swap, which sets criteria on Sustainability Performance Targets (SPTs) including AWC’s status in the MSCI ESG Rating and reducing greenhouse gas emissions. AWC developed a sustainability strategy that aims to create long-term sustainable value for all stakeholders. This strategy consists of three main pillars, which are: 1) Better Planet to drive the transition to carbon neutrality and to build a Circular Economy, such as by opening reConcept stores for recycling products, implementing renewable energy and energy saving projects to reduce greenhouse gas emissions as well as setting goals to reduce the amount of excess food from the production process and services through AWC’s Hospitality Business Unit; 2) Better People by developing people, occupational health and safety and integrating social and communities, such as “The Gallery” project under the social enterprise concept to generate income for people in the communities in the area that AWC operates; and 3) Better Prosperity to drive economic development and encouraging broader economic prosperity to sustainably benefit to all stakeholders.

“AWC is pleased that SCB has continued to support and trust in the capabilities of AWC, to build long-term value for the country together. The loan received has created a new standard for the real estate industry in Thailand to support sustainable development. This loan will also inspire our business partners to come together to drive sustainable business and create sustainability for the real estate industry in Thailand that will be recognized internationally”, Wallapa added.

With strong dedication and continued practice aligned with ESG principles, AWC has received recognition from both national and international institutions. In 2021, AWC received a “AA” rating from MSCI ESG Rating, was listed in the Thailand Sustainability Investment (THSI) of the Stock Exchange of Thailand and the S&P Global Sustainability Yearbook 2022 as a member in the Hotels, Resorts & Cruise Lines sub-industry index with Excellence CG Scoring, and was certified by the Thai Private Sector Collective Action Against Corruption (CAC).