- This Blue Finance agreement will benefit the world’s oceans
BANGKOK – March 1, 2022 – Thai Union Group PCL has signed a THB 2 billion short-term Blue Finance loan agreement with TMBThanachart Bank Public Company Limited, further expanding its position in financing that benefits the world’s oceans.
“Last year, Thai Union began paving the way for Blue Finance in Thailand through a series of long-term sustainability-linked loans and bonds totaling THB 27 billion, and we are targeting 75 percent of our long-term funding to be Blue Finance by 2025,” said Ludovic Garnier, Group CFO at Thai Union. “This ongoing shift towards Blue Finance demonstrates Thai Union’s firm commitment to both innovation and sustainability, which are at the heart of our operations.”
Thai Union’s embrace of Blue Finance is a key component of the Company’s corporate goal of ‘Healthy Living, Healthy Oceans’. Blue Finance has sustainability targets that benefit the world’s oceans, with interest rates linked to key performance indicators and sustainability performance targets. These interest rates will increase or decrease depending on whether the sustainability targets are met.
Caption (left to right)
- Yongyut Setthawiwat, Managing Director, Group Treasurer – Treasury and Finance
- Shared Serviced Department, Thai Union Group PCL
- Ludovic Garnier, Group CFO, Thai Union Group PCL
- Alexander Nondh Langfeldt. Head of Commercial Banking Customer Relationship Management, TMBThanachart Bank PCL
- Suparat Timprathuang, Team Head of Corporate Banking Customer Relationship Management, TMBThanachart Bank PCL
About Thai Union
Thai Union Group PCL is the world’s seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for 45 years.
Today, Thai Union is regarded as one of the world’s leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 141.0 billion (US$ 4.5 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta and Marvo, and ingredient and supplement brands UniQ™BONE, UniQ™DHA and ZEAvita.
As a company committed to innovation and globally responsible behavior, Thai Union is proud to be a member of the United Nations Global Compact, and a founding participating company of the International Seafood Sustainability Foundation (ISSF). In 2015, Thai Union introduced its SeaChange® sustainability strategy. Find out more at seachangesustainability.org. Thai Union’s on-going work on sustainability issues was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the eighth consecutive year in 2021 and ranked number two in the world on the Food Products Industry Index. Thai Union was also named to the FTSE4Good Emerging Index for the fifth straight year in 2020.