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- 05/22/2024
Standard Chartered Bank and USI Sign $320 Million Sustainability-Linked Loan
（2024-5-22，Shanghai）In a significant move towards promoting sustainable finance, Standard Chartered Bank today announced the successful signing of a $320 million sustainability-linked loan (SLL) with USI (Shanghai Stock Exchange: 601231). This agreement underscores both companies' commitment to sustainable development and energy-saving, carbon reduction goals.
Standard Chartered Bank stated that this two-year loan will closely monitor the sustainability performance of the borrowing company, focusing specifically on renewable energy usage and carbon reduction targets. The carbon reduction indicators are verified by the Science-Based Targets initiative (SBTi). Depending on the extent to which these targets are met, Standard Chartered will offer preferential loan rates to encourage sustainable practices.
CFO, USI, Dennis Liu highlighted the company’s dedication to developing low-carbon products, enhancing product energy efficiency, and advancing smart manufacturing. In 2023, USI upgraded the production area at its Zhangjiang plant in Shanghai to a "Light-Off factory" that operates with advanced intelligent manufacturing services. USI’s plants in China, Mexico, and Vietnam are now fully powered by renewable energy, with the Zhangjiang and Jinqiao plants also implementing carbon quota management per local regulations. Through this sustainability-linked loan, USI aims to further improve its sustainability performance and actively promote energy-saving and carbon reduction initiatives.
As a leader in the System-in-Package (SiP) module field, USI integrates sustainability into its business decisions and operations. The company has been listed in the S&P Global Sustainability Yearbook for three consecutive years, achieving top scores in the Environmental, Social, and Governance (ESG) aspects of the Electronic Equipment, Instruments & Components industry in 2023. Additionally, USI received the highest "Negligible Risk" rating from Sustainalytics ESG risk assessment and has consistently achieved an A rating in information disclosure from the Shanghai Stock Exchange for six years.
USI actively supports the goals of the Paris Agreement, with its board approving a policy on environmental, health, safety, and energy resource management to use internal resources efficiently. Besides adhering to the SBTi targets set by its parent company ASE Technology Holding, USI has implemented the Task Force on Climate-Related Financial Disclosures (TCFD) and Carbon Disclosure Project (CDP) standards. The company plans to achieve 100% renewable energy usage in its manufacturing facilities by 2035 and aims to obtain high-quality carbon credits to offset residual emissions by 2037, with a commitment to net-zero emissions by 2040.
Connie Chu, Head of Client Coverage, CCIB, Standard Chartered Bank Taiwan, emphasized the bank's pioneering role in supporting sustainable development and promoting net-zero emissions. She noted that sustainability-linked loans are a key part of helping clients transition to low-carbon operations, and this collaboration with USI further demonstrates Standard Chartered's ability to drive global sustainability efforts and assist clients in achieving their sustainability commitments.
Standard Chartered is dedicated to realizing sustainable social and economic development through its business operations and community engagement. The bank’s climate-related financial disclosures and sustainability reports highlight its achievements in sustainability, with goals to achieve operational net-zero emissions by the end of 2025 and net-zero emissions in investments and financing by 2050.
Since early 2021, Standard Chartered Group has executed over $87 billion in sustainable financing and pledged to mobilize $300 billion for climate finance projects worldwide by 2030. The group remains committed to assisting global clients in their transition while setting high standards for itself to drive sustainable economic growth, investing more resources and capital into financial products that positively impact society and the environment.
Standard Chartered Bank stated that this two-year loan will closely monitor the sustainability performance of the borrowing company, focusing specifically on renewable energy usage and carbon reduction targets. The carbon reduction indicators are verified by the Science-Based Targets initiative (SBTi). Depending on the extent to which these targets are met, Standard Chartered will offer preferential loan rates to encourage sustainable practices.
CFO, USI, Dennis Liu highlighted the company’s dedication to developing low-carbon products, enhancing product energy efficiency, and advancing smart manufacturing. In 2023, USI upgraded the production area at its Zhangjiang plant in Shanghai to a "Light-Off factory" that operates with advanced intelligent manufacturing services. USI’s plants in China, Mexico, and Vietnam are now fully powered by renewable energy, with the Zhangjiang and Jinqiao plants also implementing carbon quota management per local regulations. Through this sustainability-linked loan, USI aims to further improve its sustainability performance and actively promote energy-saving and carbon reduction initiatives.
As a leader in the System-in-Package (SiP) module field, USI integrates sustainability into its business decisions and operations. The company has been listed in the S&P Global Sustainability Yearbook for three consecutive years, achieving top scores in the Environmental, Social, and Governance (ESG) aspects of the Electronic Equipment, Instruments & Components industry in 2023. Additionally, USI received the highest "Negligible Risk" rating from Sustainalytics ESG risk assessment and has consistently achieved an A rating in information disclosure from the Shanghai Stock Exchange for six years.
USI actively supports the goals of the Paris Agreement, with its board approving a policy on environmental, health, safety, and energy resource management to use internal resources efficiently. Besides adhering to the SBTi targets set by its parent company ASE Technology Holding, USI has implemented the Task Force on Climate-Related Financial Disclosures (TCFD) and Carbon Disclosure Project (CDP) standards. The company plans to achieve 100% renewable energy usage in its manufacturing facilities by 2035 and aims to obtain high-quality carbon credits to offset residual emissions by 2037, with a commitment to net-zero emissions by 2040.
Connie Chu, Head of Client Coverage, CCIB, Standard Chartered Bank Taiwan, emphasized the bank's pioneering role in supporting sustainable development and promoting net-zero emissions. She noted that sustainability-linked loans are a key part of helping clients transition to low-carbon operations, and this collaboration with USI further demonstrates Standard Chartered's ability to drive global sustainability efforts and assist clients in achieving their sustainability commitments.
Standard Chartered is dedicated to realizing sustainable social and economic development through its business operations and community engagement. The bank’s climate-related financial disclosures and sustainability reports highlight its achievements in sustainability, with goals to achieve operational net-zero emissions by the end of 2025 and net-zero emissions in investments and financing by 2050.
Since early 2021, Standard Chartered Group has executed over $87 billion in sustainable financing and pledged to mobilize $300 billion for climate finance projects worldwide by 2030. The group remains committed to assisting global clients in their transition while setting high standards for itself to drive sustainable economic growth, investing more resources and capital into financial products that positively impact society and the environment.
