KUALA LUMPUR: RHB Bank Bhd 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).
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.
RHB Banking Group group managing director and group chief executive officer Mohd Rashid Mohamad said the bank is committed to driving the adoption of sustainable practices across its business and operations.
“The SLF extended to ISF not only embodies our shared vision of 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 its sustainability journey and business growth through this
SLF,” he said in a statement.
The NOG is Japan’s largest edible oil manufacturer, while ISF is one of the leading specialty fats and oils manufacturers.
ISF chief executive officer Takashi Ishigami said this partnership exemplifies the company’s shared commitment to sustainability and environmental, social, and governance (ESG) principles, empowering the advancement of impactful initiatives for a greener and more inclusive future.
“Together, we are driving positive change and building a more sustainable world,” he said.
The initiative also aligns seamlessly with RHB’s broader sustainability strategy.
“As part of our ‘Together We Progress’ commitment, we remain steadfast in assisting our clients in achieving their sustainability goals.
“Our collaboration with ISF exemplifies our unwavering support for companies prioritising ESG principles.
“We look forward to making progress together with ISF, paving the way towards a more sustainable and low-carbon future,” Mohd Rashid said.
