V S Baldwa, president director and Group CFO of Indo-Rama, stated that the expansion of the Indo-Rama yarn spinning factory was not only geared toward meeting increased consumer demand but was also a crucial step toward enhancing sustainability. This project is expected to achieve a 20 percent increase in energy efficiency through its energy-saving machinery and technology. Thus, it aligns with Indo-Rama's broader ESG enhancement plans, including its decarbonization road map, initiatives for renewable resources such as solar panel installations and a commitment to the use of recyclable materials.

The long-standing relationship between HSBC Indonesia and Indo-Rama are strong foundations for sharpening this collaboration. The connection between HSBC Indonesia and Indo-Rama is rooted in trust and shared values, further solidifying their joint commitment to sustainable finance and responsible business practices.

Riko Tasmaya, managing director and head of Wholesale Banking at HSBC Indonesia, stated, "The journey toward decarbonization requires collaboration across stakeholders, and we recognize that the most significant impact we can make is by continuing to help our clients reduce emissions in their operations. We are delighted to support Indo-Rama's substantial commitment to enhancing ESG principles in their operations."

Furthermore, V S Baldwa, president director and Group CFO of Indorama, mentioned, "We are pleased to agree to our first green loan with HSBC Indonesia, further strengthening and expanding our global partnership that has spanned three decades. We prioritize integrated sustainability principles in our business operations, and this transaction will help enhance our environmental footprint. We look forward to further strengthening our collaboration with HSBC Indonesia to achieve common goals."

HSBC's net-zero ambition

HSBC's net-zero ambition entails aligning funding to businesses generating emissions, such as greenhouse gas emissions from its clients, to zero by 2050 or even sooner. Moreover, HSBC is collaborating with both the government and the private sector to accelerate innovation and channel funds into sectors in the greatest need.

During the 43rd ASEAN Summit in Jakarta (Sept. 5 - 7), HSBC Indonesia actively participated in a series of seminars and discussions with various stakeholders from the government, regulators, clients and interested parties to further promote the implementation of government-private sector funding structures in Indonesia.

Francois de Maricourt, president director of HSBC Indonesia, emphasized HSBC's broad commitment, stating, "HSBC has been engaged in advancing sustainable finance through strategic partnerships between the government and the private sector. We actively participate in strategic initiatives such as the Glasgow Financial Alliance for Net Zero [GFANZ] through the mechanism of the Just Energy Transition Partnership [JETP]. This collaboration aims to accelerate the transition toward a low-carbon and sustainable economy in Indonesia."

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