New Products
The ESG Phenomenon - United Overseas Bank, Thailand
Developments and commentary in and around the ESG investment space.
UOB Thailand has lent Asia Capital Real Estate (ACRE) THB675 million ($21.7 million) to develop HOMA Phuket Town, a residential rental apartment complex in Phuket that is “environmentally friendly,” the bank said.
The loan was approved under the UOB Real Estate Sustainable Finance Framework. HOMA Phuket Town is a 505-unit rental housing development with features such as solar panels, energy-efficient appliances, LED lighting, advanced air quality monitoring and efficient air conditioning.
The financing is an example of the sort of “green bond” that has
been a growing feature of deals around the world amid the trend
for ESG investing.
UOB said the development
in Phuket will help cut greenhouse gas emissions by about 325
tonnes a year.
