Palm oil company the Musim Mas Group has signed its first sustainability-linked loan with Rabobank and HSBC Bank.
The €150M (US$166M) loan would focus on three Key Performance Indicators (KPIs) – RSPO certification of independent smallholders, training of independent smallholders and maintaining a deforestation-free palm oil supply chain, the company said on 29 August.
“Contracting a sustainability-linked loan with measurable targets is a testament to Musim Mas’ … commitment to sustainability,” Musim Mas chief financial officer and executive director Alvin Lim said.
The company sources raw materials from Malaysia and Indonesia, with the latter its main operational base. It also has production plants located across Asia and Europe and has operations in 13 countries.
The company operates plantations, mills, refineries and palm kernel crushing plants and it produces palm oil products and derivatives across multiple industries worldwide.
Its main research and development (R&D) centre is based in Singapore and its global marketing activities are undertaken by Inter-Continental Oils and Fats (ICOF), a member of Musim Mas Group.
In January 2024, Musim Mas announced that it would aim to achieve net zero by 2050.
