BANGKOK – May 8, 2025 –Thai Union Group PCL, a global leader in the seafood industry, has secured a landmark US$150 million Blue Loan from the Asian Development Bank (ADB)—the first such financing in Thailand’s seafood sector. The milestone sets a new benchmark for sustainable finance in aquaculture, reinforcing Thai Union’s commitment to responsible sourcing, sustainable seafood production, and climate resilience.
The financing package includes an ADB A-loan and a syndicated B-loan with participation from commercial co-financiers: Bank of China (Hong Kong) Limited, HSBC, MUFG Bank Ltd, OCBC, Sumitomo Mitsui Banking Corporation, and United Overseas Bank Limited. Proceeds from the loan will be used to scale up Thai Union’s sustainable shrimp procurement in Thailand—a core component of its SeaChange® 2030 global sustainability strategy, which supports the company’s ambition to achieve net-zero greenhouse gas emissions by 2050.
Under the Blue Loan, Thai Union will increase its sourcing of certified sustainable shrimp—products recognised by the Global Sustainable Seafood Initiative (GSSI), including certification from the Aquaculture Stewardship Council (ASC), Best Aquaculture Practices (BAP), or farms engaged in credible Aquaculture Improvement Projects (AIPs). The programme places strong emphasis on environmental sustainability, including biodiversity protection, feed traceability, lower carbon emissions through the use of renewable energy, improved feed conversion ratios (FCR), and deforestation prevention. It also promotes social responsibility, encompassing fair labour practices and community engagement.
“Sustainability sits at the heart of our business, and this Blue Loan represents an important step in our journey,” said Mr Thiraphong Chansiri, CEO of Thai Union Group. “We are honoured to be ADB’s first private sector partner in Thailand’s seafood industry and the first in the global seafood sector to secure a loan of this kind. The funding will accelerate our sustainable sourcing efforts and enhance our contribution to ocean health, food security, and climate action. We hope this model inspires others in the industry to follow.”
“This marks ADB’s first Blue Loan in the aquaculture sector in Thailand,” said Mr Anouj Mehta, Country Director of ADB’s Thailand Resident Mission. “Aquaculture is among the most efficient sources of animal protein, supplying more than half of the world’s seafood. However, the sector also faces climate-related and environmental risks such as habitat loss, pollution, and pressure on natural resources due to rising demand for aquafeed. This transaction addresses those challenges and stands as a strong case study in sustainable shrimp procurement, enhancing resilience and promoting inclusivity across the supply chain.”
In addition to advancing Thai Union’s corporate sustainability goals, the Blue Loan supports Thailand’s national commitments on climate action and sustainable development. It is aligned with ADB’s Strategy 2030, which prioritises climate resilience, rural development, and inclusive economic growth.
The loan is designated “blue” under Thai Union’s Blue and Green Finance Framework, which was developed with ADB technical assistance and independently assessed by DNV, a global assurance and risk management expert. It is the first such framework to align with Thailand’s draft Taxonomy (Phase 2) and complies with international standards, including those set by the International Capital Market Association and the “Bonds to Finance the Sustainable Blue Economy: A Practitioner’s Guide.”
Launched in April, the framework also adheres to the UN Environment Programme’s Sustainable Blue Economy Finance Principles, providing clear criteria for the use of proceeds, fund management, and impact reporting—ensuring transparency, credibility, and replicability across the industry.