SET Listed Rubber Processing Company, Thailand
SLP Environmental Co., Ltd was appointed by an International Credit Guarantee and Investment Facility to perform environmental and social due diligence (ESDD) on a SET listed company operating a large rubber processing facility in North East Thailand. Ancillary facilities included complex tertiary wastewater treatment facilities and a large Biogas facility with a Captive Power Plant. The ESDD also included a comprehensive Supply Chain E&S Audit.
The Company plans a corporate bond issuance which will be guaranteed by our Client, and hence is required to comply with the Facility’s Environmental and Social Safeguards (ESS). SLP was appointed as an independent consultant to assess the Company’s performance with respect to the Safeguards Requirements (SR) specified for the Assignment which included:
- Clients’ ESS Policy;
- Applicable requirements of ADB Safeguard Requirements 1 – 3;
- Applicable E&S related national laws, regulations and international conventions/treaties ratified by Thailand; and
- Applicable ILO Core Labour Standards.
The objectives of the Environmental & Social Due Diligence Assessment were to:
- Assess the Company compliance status with respect to the safeguards requirements;
- Assess E&S risks in the Supply Chain;
- Clearly identify any gaps with SR and prioritise them in terms of significance;
- Recommend appropriate corrective actions (CA’s) to close gaps and align Project E&S performance with safeguards requirements;
- Set timelines for implementation of CA’s based on assigned priority and specify appropriate Completion Indicator to verify gap closure; and
- Assess the capacity and resources of the Sponsor to implement the CAP requirements.
SLP specialises in performing environmental and social due diligence assessments in South East Asia on behalf of project financiers and project sponsors alike. SLP has project experience in multiple business sectors and across the ASEAN jurisdictions.
Please contact us to discuss your requirements.