KUALA LUMPUR, 12/7/2021 – HSBC Amanah Malaysia (HSBC Amanah) has successfully completed a bespoke Green trade financing facility to Guan Chong Cocoa Manufacturer Sdn Bhd, a wholly-owned subsidiary of Guan Chong Berhad (GCB). The deal is the first green trade financing facility for sustainable cocoa sourcing in Malaysia.
The green financing supports GCB’s sustainable ambition to achieve 100% Traceable and Sustainable cocoa by 2030 from its direct cocoa bean sourcing network. GCB, the world’s fourth largest cocoa grinder, has a long term vision of building a sustainable business that aims to positively impact the cocoa supply chain through their sustainability programme, Good Cocoa & Beyond, and its four pillars. This includes improving farmer incomes, protecting the environment, benefitting the farmers and their communities, and providing responsible cocoa. The Green Trade Finance provided by HSBC Amanah serves as a foundation in supporting this vision.