Standard Chartered Bank (Taiwan) Ltd (渣打國際商業銀行) on Friday approved a sustainability-linked loan (SLL) worth US$505 million to ASE Group (日月光集團), the first such loan granted by the bank in Taiwan.
The transaction is not only the largest SLL in Taiwan this year, but also the world’s first such loan granted to the semiconductor packaging and testing industry.
Standard Chartered said that it would evaluate the related sustainability indicators of ASE Group over the two-year period of the loan, especially those concerning greenhouse gas emissions and the three benchmarks of the Dow Jones Sustainability Indices (DJSI).
Photo: Reuters
Standard Chartered said it would provide preferential interest rates if the company’s sustainability targets are met, a move that encourages the implementation of sustainable practices.
Connie Chu (朱佳玲), head of corporate, institutional and commercial banking at Standard Chartered Taiwan, said sustainable development is not only part of the bank’s financial services, but also its core culture.
The bank looks forward to playing a key role in the financial industry to assist customers in promoting sustainability goals, Chu said.
Standard Chartered also expects to call on more companies to pay attention to environmental, social and governance issues, she said.
Standard Chartered believes that sustainable development requires long-term investment, Chu said.
The bank looks forward to further deepening the long-term partnership with ASE Group beyond the two-year loan, and working together for the sustainable development of Taiwan, she added.
ASE Group is a world-leading semiconductor packaging and testing company and also a benchmark enterprise in Taiwan in terms of sustainable development performance.
The company has been named an industry leader in the semiconductor and semiconductor equipment industry group for five years in a row by the DJSI. It has also received the RobecoSAM gold award in the sustainability yearbook for three consecutive years.
With its contribution to saving energy and sustainability, it has achieved an “A” listing in the global carbon disclosure project for four years in a row, the only publicly listed company in Taiwan to make the prestigious list.
ASE Group has been active in introducing green supply chains and investing in renewable energy projects. It has joined the Science Based Targets initiative, and in July became the first chip company in Taiwan to set science-based emissions reduction targets, demonstrating an approach in line with international sustainability trends.
The group is a founding member of the Taiwan Alliance of Net Zero Emission. ASE aims to achieve 100 percent net-zero emissions at its offices by 2030, and at its local production sites by 2050.
ASE Group said the SLL transaction with Standard Chartered is its first sustainable concept loan, which further demonstrates the group’s commitment to progress in sustainable development.
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