“IOI aims to take the lead in sustainable palm oil production and be at the forefront of sourcing for sustainably-produced palm oil,” said IOI managing director and chief executive Datuk Lee Yeow Chor.
PETALING JAYA: UOB Malaysia has extended a green trade finance facility under its UOB Green and Sustainable Trade Finance Framework to IOI Corp Bhd
(IOI).
The integrated and sustainable palm oil company will utilise the financing facility to source certified palm oil to support its downstream resource-based manufacturing business. together with its business partners’ activities.
“IOI aims to take the lead in sustainable palm oil production and be at the forefront of sourcing for sustainably-produced palm oil,” said IOI managing director and chief executive Datuk Lee Yeow Chor in a statement yesterday.
“UOB’s green trade financing facility supports our goal to promote sustainable palm oil and expand our green footprint as we progress towards net-zero emissions.”
Having a strong global presence in Asia, Europe and the United States, IOI’s business activities range from upstream plantation to downstream resource-based manufacturing, that include refining palm oil and manufacturing of oleochemicals and specialty oils and fats.
IOI Plantation
“We have been sharing our expertise on how companies can use our sustainable finance products and solutions to boost their sustainability efforts,” said chief executive officer of UOB Malaysia, Ng Wei Wei, in the statement.
“This collaborative approach helps to drive greater market adoption for green financing and encourages more businesses to grow responsibly.
“Furthermore, we are delighted that our green trade financing facility will also be supporting the global trade flows of palm oil, which is a key export of Malaysia.
