In December 2020, ABC SG enters into a repurchase (“repo”) deal with BNP Paribas channeling the funds raised to green assets. This is a USD 50 million landmark Repo transaction whereby the proceeds of the repo will be allocated into green projects based on the Sustainable Financing Framework (“SFF”) of the Singapore branch set up in 2019.

ABC SG has engaged Sustainalytics to review the assets funded by this repo transaction and provide an assessment as to whether the projects met the Use of Proceeds criteria and the Reporting commitments outlined in the SFF as per our counterparty’s request.

ABC SG is happy to report that based on the procedures conducted nothing has come to Sustainalytics’ attention that is not in conformance with the Use of Proceeds and the Reporting criteria outlined in the SFF.