Olam, Deutsche Bank close FX derivative linked to ESG

Singapore

MAINBOARD-LISTED agri-business group Olam International and Deutsche Bank on Friday announced the execution of Asia's first foreign exchange (FX) derivative linked to environmental, social and governance (ESG) key performance indicators (KPIs).

The ESG-linked foreign exchange (Thai baht/US dollar) forward enables Olam to lock in a discount when it meets pre-defined ESG targets which support the United Nations (UN) Sustainable Development Goals (SDGs), said Olam and Deutsche Bank in a joint media statement.