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Showing posts with the label Standard Chartered
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Standard Chartered and Etika seal Malaysia’s first FMCG ESG- linked derivative transaction worth MYR251 million
Standard Chartered Malaysia has entered into an environmental, social and governance (ESG)-linked derivative transaction worth MYR251 million with one of Malaysia’s leading beverage manufacturers, distributors and marketers, Etika Group of Companies, marking the first such transaction executed by a homegrown fast-moving consumer goods (FMCG) corporate in Malaysia. The structure of the transaction involves a pricing mechanism where a discount or premium will be applied depending on whether Etika achieves the pre-agreed sustainability-related key performance indicators (KPIs) that are tied to the greenhouse gas emissions intensity of the Etika Beverage Plant and Etika Dairy Plant. The KPIs are in support of Etika’s sustainability commitments to promote environmentally conscious practices within the FMCG industry. Abrar A. Anwar, MD and CEO of Standard Chartered Malaysia, said, “For a leading homegrown player like Etika to take ownership in actively reshaping their group sustainability pl...
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