EGG producer Chew’s Agriculture has signed a 10-year, S$27 million sustainability-linked loan with DBS Bank, to construct a new farm with larger cage-free facilities.
The egg producer will also enjoy lower interest rates if it meets Humane Farm Animal Care standards. Said Edvin Lim, director of Chew’s Agriculture:"Through incorporating HFAC standards, we are not only ensuring the well-being of our layer hens, but improving the quality of the eggs that they produce. It is a win-win solution that definitely sets a new benchmark for how we run our business.”
For its sustainability-linked loans, DBS said corporates are evaluated based on an annual sustainability review report typically assessed by an external independent party, tracking the performance of corporates in terms of governance, environmental and social criteria.