Thai Union Group Public Company Limited has secured a USD 150 million Blue Loan from the Asian Development Bank. This is the first Blue Loan for Thailand’s seafood sector and represents a significant step in applying sustainable finance to aquaculture. The loan package includes an ADB A-Loan and a syndicated B-Loan with commercial banks such as Bank of China (Hong Kong) Limited, HSBC, MUFG, OCBC, Sumitomo Mitsui Banking Corporation, and United Overseas Bank. Funds will be used to expand sustainable shrimp sourcing in Thailand, which supports Thai Union’s SeaChange 2030 strategy and its goal to reach net zero greenhouse gas emissions by 2050.
The company will use the proceeds to increase sourcing from shrimp farms certified by standards recognized by the Global Sustainable Seafood Initiative, such as the Aquaculture Stewardship Council and Best Aquaculture Practices, or from farms involved in credible Aquaculture Improvement Projects. This approach promotes environmental sustainability and social responsibility by focusing on biodiversity, carbon reduction, traceability, fair labor, and community engagement.
This loan supports Thailand’s national climate and sustainability targets and aligns with the Asian Development Bank’s Strategy 2030, which promotes resilience and inclusive development. It is designated as a blue loan under Thai Union’s Blue and Green Finance Framework, which received technical support from ADB and was reviewed by DNV. The framework aligns with international sustainability standards and Thailand’s draft Taxonomy, offering clear criteria for fund use, monitoring, and reporting. This ensures transparency and provides a model for future sustainable finance in aquaculture.
(Source: Thai Union)
