BNP Paribas is piloting the first sustainable supply chain financing framework in Singapore | Press releases | Asia
The Bank has developed a matrix of key performance indicators as part of the framework to incentivize clients who meet key performance indicators in responsible sourcing and procurement
BNP Paribas is piloting a framework to promote sustainable practices in business supply chains under the aegis of the Green and Sustainability Linked Loan Grant Scheme announced today by the Monetary Authority of Singapore.
The Bank’s framework aims to engage with large multinationals and their extended supply chains to adopt more sustainable practices. It is the first of its kind in Singapore and an important step towards supporting customers in their efforts to achieve more responsible sourcing and sourcing.
Joris Dierckx, CEO of BNP Paribas Singapore, said: “Singapore is Asia’s premier logistics hub offering world-class connectivity. With the unprecedented rise in regional cross-border trade and the challenges that Covid-19 has brought to the supply chain network, we believe it is crucial that banks step up their efforts to help customers integrate practices of sustainable supply chain.
Banks that are at the forefront of best practice in this area can help facilitate a cascade of positive changes that will spill over into the supply chain and global trade networks.
Integrating sustainability into supply chain operations is very complex and the Bank’s sustainable supply chain finance framework is designed to encourage clients to innovate and adopt sustainable practices.
At the heart of the framework is a matrix of key performance indicators that measure the sustainability performance of companies in their supply chain processes and offer companies more favorable conditions based on their development performance. sustainable.
As the green and sustainable finance business in Singapore grows, leveraging the capabilities of the industry will help bring green finance and sustainability-related lending into the mainstream. Through this framework, which has been revised by VE, a subsidiary of Moody’s, BNP Paribas will help companies achieve sustainable development goals aligned with the United Nations Sustainable Development Goals.
Pamela chew [email protected] +65 6210 1291
In Asia-Pacific, BNP Paribas is one of the best positioned international financial institutions with an uninterrupted presence since 1860. Currently with more than 18,000 employees and a presence in 13 markets, BNP Paribas offers companies, institutional and private investors tailor-made product and service solutions. to their specific needs.
It offers a wide range of financial services covering corporate and institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer finance through strategic partnerships.
Worldwide, BNP Paribas is present in 71 markets with more than 198,000 employees. It occupies key positions in its three main activities:
Domestic Markets and International Financial Services (whose retail banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporates and institutional investors. Asia-Pacific is a key strategic region for BNP Paribas and continues to develop its franchise in the region.