AWC Partners with SMBC to Support Thailand’s Goal of Becoming a Global Sustainable Tourism Destination with a THB 3,000 Million Sustainability-Linked Loan

Bangkok, Thailand, November 20, 2024 -- Asset World Corp Public Company Limited (AWC), Thailand’s leading integrated lifestyle real estate group, has partnered with Sumitomo Mitsui Banking Corporation (SMBC) to sign a THB 3,000 million sustainability-linked loan. This collaboration reflects a shared commitment to advancing sustainability within Thailand’s real estate and tourism sectors. The partnership aims to shape a better future through high-quality projects aligned with international sustainability standards, promoting environmental, social, and governance (ESG) principles under AWC’s 3BETTERs framework: Better Planet for environmental strategies, Better People for community sustainability, and Better Prosperity for governance and equitable economic growth. This approach reinforces Thailand’s position to become a global sustainable tourism destination while creating value for all stakeholders across the value chain.

Mr. Rajeev Kannan, Managing Executive Officer and Co-Head of the Asia Pacific Division at Sumitomo Mitsui Banking Corporation (SMBC), stated, "We are truly honored to partner with AWC on this milestone loan. Sharing a unified vision for sustainability, we are excited to work with AWC, Thailand’s leading real estate group, recognized for its world-class sustainability standards, which highlights its capability to develop high-quality projects that prioritize sustainable practices and its commitment to achieving carbon neutrality. As SMBC targets providing over THB 11 trillion (JPY 50 trillion) in sustainability-linked loans globally by 2030, this partnership exemplifies our dedication to building a better future for the environment, country, and the sustainable growth of the region."

Mrs. Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited (AWC), stated, "AWC deeply impressed with SMBC’s commitment and vision as a global financial leader dedicated to sustainable growth. This sustainability-linked financing marks a significant step in joining forces to create shared value for all stakeholders and aligns with our strategic growth plan based on international sustainability standards. As a long-standing financial partner, our collaboration with SMBC is instrumental in advancing sustainability in Thailand’s real estate and tourism sectors, strengthening Thailand’s position as a global sustainable tourism destination.”

AWC will utilize the sustainability-linked loan to further develop its operations in alignment with its sustainability goals and create shared value for all stakeholders throughout the value chain. This includes developing world-class landmark projects that establish new benchmarks for Thailand’s industries. Following the successful completion of the first LEED and WELL certified hotel in Northern Thailand last year, AWC continues to drive mega projects incorporating top-tier sustainability development practices, such as the "Lannatique" in Chiang Mai, "Aquatique" in Pattaya, and "Woeng Nakornkasem Yaowaraj" in Bangkok. These projects prioritize resource efficiency, energy conservation, and measurable reductions in greenhouse gas emissions, aligning with AWC’s Sustainability Performance Targets (SPTs) and the MSCI ESG Rating standards.

Currently, AWC has successfully increased the proportion of sustainability linked loans and green loans to 100 percent from leading financial institutions, both domestically and internationally. This reflects the company’s commitment to creating a sustainable future for the country. AWC drives its business operations under the sustainable development framework, focusing on the three pillars, or 3BETTERs, which include Better Planet, Better People, and Better Prosperity.

AWC’s commitment to sustainable growth has earned the company notable recognition. It is a member of the Dow Jones Sustainability Indices (DJSI) in the Emerging Markets category, achieving the highest scorer in the Hotels, Resorts & Cruise Lines industry, ranking among the Top 1% (Gold Class) on S&P Global rankings. Additionally, AWC has been listed in the S&P Global Sustainability Yearbook 2024 and received an "AA" rating from MSCI ESG Ratings. Furthermore, AWC’s affiliated hotels and lifestyle retail projects are committed to being part of the STAR (Sustainable Tourism Acceleration Rating) certification from the Tourism Authority of Thailand, strengthening Thailand’s position as a global sustainable tourism destination.

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