Krungthai Bank links Thaoil’s FX hedging transactions to ESG

Thaioil can get discounts if it successfully meets its ESG goals.

Thaioil and Krungthai Bank have signed a memorandum of understanding (MOU) on FX hedging transactions linking all three aspects of environmental, social, and governance (ESG).

The Thailand-based bank will provide Thaioil with discounts on transactions if the company successfully meets its ESG goals in all three aspects, according to a press statement.

This is reportedly the first initiative in the refining industry to integrate all aspects of ESG with FX hedging to drive sustainable organization.

This initiative is aligned with the United Nations Sustainable Development Goals (SDGs).