Indorama Ventures Public Company
Limited (IVL), a global sustainable chemical producer, has been awarded ‘Best
Regional Loan’ in the manufacturing sector for its US$300 million Blue Loan –
the first of its kind granted to a plastic resin manufacturer. The award was
announced at ‘Triple A Sustainable Capital Markets Regional Awards 2020’
virtual ceremony organized by The Asset, Asia’s leading financial magazine.
This recognition reflects IVL’s commitment to being at the forefront of
businesses striving for a sustainable future.
The Blue Loan, which exclusively
focus on addressing marine plastic pollution, comprises US$150 million senior
loan from the International Finance Corporation (IFC) and parallel loans of
$150 million from the Asian Development Bank (ADB) and Deutsche
Investitions-und Entwicklungsgesellschaft (DEG). IVL will utilize the fund to
promote a circular economy by enhancing capacity of IVL’s PET recycling plants
in Brazil, India, Indonesia, the Philippines and Thailand following its
sustainability goal of achieving 750,000 metric tons of PET recycling globally
by 2025. The fund will also help the company invest in other climate-related
initiatives.
The board of editors at The Asset,
said, “The blue loan represents the latest environmental initiative by
corporates such as Indorama Ventures, which will divert plastic waste from
landfills and oceans, thus contributing to a better environment.â€Â
Yash Lohia, Chief Sustainability
Officer at Indorama Ventures, said, “Indorama Ventures is honored to
receive the Best Regional Loan Award for the first-ever Blue Loan to a plastic
resin manufacturer. This award reflects IVL’s commitment to building recycling
infrastructure to undertake proper waste management and prevent impacts on the
marine ecosystem. By recycling post-consumer PET bottles as a feedstock for new
bottles, we give value to waste. This drives improvements in waste collection
systems, meaning less waste and cleaner oceans.”
Indorama Ventures Public Company
Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s
leading petrochemicals producers, with a global manufacturing footprint across
Europe, Africa, Americas, and Asia Pacific. The company’s portfolio comprises
Combined PET, Integrated Oxides and Derivatives, and Fibres. Indorama Ventures
products serve major FMCG and automotive sectors, i.e. beverages, hygiene,
personal care, tire and safety segments. Indorama Ventures has approx. 24,000
employees worldwide and consolidated revenue of US$10.6 billion in 2020. The
Company is listed in the Dow Jones Emerging Markets and World Sustainability
Indices (DJSI).