RHB Bank Berhad (“RHB”) has sealed a significant agreement with Intercontinental Specialty Fats Sdn Bhd (“ISF”), a subsidiary of The Nisshin Oillio Group Ltd (“NOG”). The pact entails a Sustainability-Linked Facility (“SLF”) amounting to RM90 million, marking a pivotal step towards fostering eco-conscious practices in the sector.
As Japan’s foremost edible oil manufacturer, NOG brings substantial industry expertise, while ISF stands out as a global leader in specialty fats and oils production.
The SLF’s framework is designed to incentivize ISF’s progress in achieving predefined Sustainability Performance Targets (“SPTs”). These targets are strategically crafted to drive tangible advancements across ISF’s operations, supply chain engagements, and client requirements, ultimately enhancing the sustainability profile of the palm oil industry.
RHB Banking Group, Group Managing Director/Group Chief Executive Officer, Mohd Rashid Mohamad, expressed the bank’s unwavering commitment to sustainable practices. He emphasized that the SLF extended to ISF not only underscores RHB’s dedication to sustainable development but also solidifies its role as a catalyst for positive change. Through collaborative efforts and a shared commitment to sustainability and financial success, RHB aims to support ISF’s sustainability journey and business expansion.
ISF, Chief Executive Officer, Takashi Ishigami, echoed Mohd Rashid’s sentiments, highlighting the partnership’s significance in advancing sustainability and ESG principles. He underscored the joint commitment to driving impactful initiatives for a greener and more inclusive future, underscoring their role in fostering positive change and building a sustainable world.
The collaboration between RHB and ISF seamlessly aligns with RHB’s broader Sustainability Strategy, reflecting the bank’s pledge to assist clients in achieving their sustainability objectives.
Under the banner of “Together We Progress,” RHB remains resolute in supporting companies prioritising ESG principles. The collaboration with ISF exemplifies RHB’s steadfast commitment to facilitating progress towards a sustainable and low-carbon future.
This collaboration between RHB Bank and ISF marks a significant stride towards embedding sustainability within the palm oil industry, emphasising the importance of collective action in driving positive environmental outcomes.
