Thai Union Group PCL has secured a USD 150 million Blue Loan from the Asian Development Bank (ADB), marking a first for Thailand’s seafood industry. This loan aims to advance sustainable finance in aquaculture, highlighting Thai Union’s dedication to responsible sourcing and climate resilience.
The financing package includes an ADB A-Loan and a syndicated B-Loan with partners such as Bank of China (Hong Kong) Limited, HSBC, MUFG Bank Ltd, OCBC, Sumitomo Mitsui Banking Corporation, and United Overseas Bank Limited. The funds will be used to enhance Thai Union’s sustainable shrimp procurement in Thailand as part of its SeaChange 2030 global sustainability strategy.
Through this initiative, Thai Union plans to expand its sourcing of sustainable shrimp certified by recognized schemes like the Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP). The approach emphasizes environmental sustainability and social responsibility.
“Sustainability sits at the heart of our business, and this Blue Loan represents an important step in our journey,” said Thiraphong Chansiri, CEO of Thai Union Group. “We are honored to be ADB’s first private sector partner in the seafood industry in Thailand.”
Anouj Mehta, Country Director of ADB Thailand Resident Mission stated: “This marks ADB’s first blue loan in the aquaculture sector in Thailand.” He noted that while aquaculture is efficient for producing animal protein, it faces risks from climatic conditions and environmental challenges.
The Blue Loan also supports Thailand’s national climate action commitments and aligns with ADB’s Strategy 2030 priorities. It is labeled as blue under Thai Union’s Blue and Green Finance Framework developed with ADB assistance.
Thai Union Group PCL is a leading seafood company known for high-quality products since 1977. Its SeaChange 2030 strategy aims to deliver impact for both people and planet. The company has been listed on sustainability indices such as the Dow Jones Sustainability Indices for several years.