OCBC extends S$16m green-linked loan to textile and apparel company Ghim Li
The loan was made through the ESGpedia platform.
OCBC has awarded a S$16m sustainability linked loan (SLL) to Ghim Li, a global textile and apparel manufacturer, through the ESGpedia platform.
The ESGpedia platform was developed by STACS, an Asia-based environmental, social, and governance (ESG) data and technology solutions company.
The process involves digital collection of data on ESGpedia via the ESBN Asia-Pacific Green Deal digital assessment. This is then independently verified by global leader in testing, inspection and certification services, Bureau Veritas (an ESGpedia marketplace partner).
With this, businesses and small and medium-sized enterprises (SMEs) can leverage digitalisation to get started on their sustainability journeys. It is also easier for banks to extend SLLs to businesses more efficiently.
The loan adds to OCBC’s sustainable financing portfolio, which stood at S$47.4b as at 30 June 2023.