Asset World Corp Public Company Limited (AWC), a Thai real estate developer focused on comprehensive lifestyle solutions, has partnered with Thai Commercial Bank (SCB) to reinforce the leadership of both organizations committed to sustainable business practices. They have organized a 20 billion baht Sustainability Linked Loan and ESG Linked Interest Rate Swap, the first of its kind in Thailand's real estate industry.

AWC believes in developing real estate in collaboration with partners for sustainability in all aspects, focusing on projects that promote efficient energy use, optimal resource management, and reduction of greenhouse gas emissions under the ESG principles, in line with the organization's mission of “Building a Better Future.” This collaboration will serve as a crucial mechanism to enhance the sustainable potential of Thailand's real estate and tourism sectors.

Mr. Arthit Nanthawithaya, CEO of SCB X Public Company Limited, stated, “Thai Commercial Bank is the core financial business of SCB X Group, and as a significant financial institution in the country, we recognize our role in creating a sustainable society and environment. With our strategy to be a ‘Better Bank,’ we focus on developing sustainable finance through financial products and services linked to sustainability operations, catering to large businesses that prioritize social and environmental responsibility. This is another proud moment for Thai Commercial Bank as we have gained the trust of AWC to jointly achieve success in providing a 20 billion baht Sustainability Linked Loan along with an ESG Linked Interest Rate Swap, marking the first time a real estate company in Thailand has received such financing. I commend the vision of AWC's management, evident in their successful projects and their ability to navigate through the COVID-19 situation robustly, as well as their sustainability achievements recognized on a global stage. The bank is confident in AWC's potential as a leading real estate player crucial to Thailand's tourism and economy. I hope that SCB X Group, through Thai Commercial Bank, will have the opportunity to collaborate with AWC on future projects, striving to be a better bank to contribute to a better society in line with AWC's mission of Building a Better Future.

Ms. Nawalapa Traisorat, CEO and Managing Director of Asset World Corp Public Company Limited, or AWC, stated, “AWC's business mission is to jointly ‘create a better future’ or ‘Building a Better Future,’ integrating sustainable development principles into every sector and dimension of our operations to create true holistic value for all stakeholders across the value chain.

In the past, AWC has consistently pursued sustainability principles, such as implementing projects to promote sustainable cities and communities within its hotel business, including The Athenee Hotel, a Luxury Collection Hotel, which is the first hotel in the world to receive the ISO 20121 standard for sustainable event management, and Banyan Tree Samui, which collaborates with the Department of Marine and Coastal Resources to relocate turtle eggs and create a nursery area to protect the eggs from predators before hatching. We are very pleased and proud to have gained the trust of Thai Commercial Bank in approving long-term revolving credit and derivatives linked to sustainability operations, incorporating the organization's environmental, social, and governance (ESG) performance as a key part of this sustainable financing mechanism to develop various AWC projects as part of creating sustainability for the real estate industry, tourism industry, and the country's economy (Building A Better Future For Sustainable Real Estate And Sustainable Tourism).

AWC is the first company in Thailand's real estate sector to receive long-term revolving credit and derivatives linked to sustainability operations and ESG performance (Sustainability Linked Loan and ESG Linked Interest Rate Swap), aiming for sustainability performance targets (SPTs) including achieving MSCI ESG Rating sustainability index goals and reducing greenhouse gas emissions. AWC has established a sustainable development strategy with the ultimate goal of “creating long-term sustainability value for all stakeholders” through a framework of three core pillars:
1) Better Planet - Promoting the transition to carbon neutrality and creating a circular economy, such as establishing a reConcept store under the recycling concept, implementing renewable energy projects, and energy-saving initiatives to reduce greenhouse gas emissions, as well as setting goals to reduce food waste in the hotel business.
2) Better People - Developing personnel, occupational health and safety, and social and community integration, such as continuously developing the “The GALLERY” project under the social enterprise model to help generate income for communities in areas where AWC operates.
3) Better Prosperity - Promoting economic development and stimulating broad economic prosperity to sustainably benefit all stakeholders.

“AWC is pleased that SCB continues to support and believe in AWC's potential, and we are ready to create long-term value together. Receiving this loan signifies a new standard for Thailand's real estate industry that supports sustainable development and inspires our business partners to join forces in driving sustainable business together, creating sustainability for the country's real estate industry to be recognized internationally,” Nawalapa added.

With commitment and continuous operations under ESG principles, AWC has gained recognition from organizations both domestically and internationally. In 2021, AWC was rated “AA” by MSCI ESG Rating, selected for the Thailand Sustainability Investment (THSI) list by the Stock Exchange of Thailand, and included in the S&P sustainability index (from the Sustainability Yearbook 2022 report) for the hotel, resort, and cruise industry. Additionally, it received an “Excellence” rating in corporate governance reporting and was certified as a partner in the Thai private sector's anti-corruption initiative (CAC).