PRNewswire
Bangalore (Karnataka) [India], June 11: Quest Global, a leading global engineering services firm, today announced that it has been recognized with The Asset Triple A Award for Sustainable Finance 2025 in South Asia, in partnership with ING, in the category of 'Best Sustainability-Linked Loan - Engineering Services.' This achievement is particularly noteworthy as Quest Global is the first engineering services company to have achieved this milestone. This prestigious award celebrates the innovative integration of sustainability into Quest Global's financial strategy.
The award acknowledges Quest Global's and ING's pioneering approach to embedding sustainability within the company's financing framework, a practice that remains relatively uncommon in the outsourced engineering services sector. The developed sustainability-linked loan (SLL) features a balanced discount and penalty mechanism, strategically designed to incentivize Quest Global to achieve significant advancements in its sustainability objectives through enhanced EcoVadis assessment scores.
"We are deeply honoured to receive this distinguished award from The Asset," stated Rajendra Shreemal, Chief Financial Officer, Quest Global. "This recognition underscores our unwavering commitment to sustainability in our business and financial strategy. Our collaboration with ING has been pivotal in crafting a sustainable financing solution. We would like to extend our gratitude to ING for their expertise in structuring this deal and identifying a sustainability-linked loan opportunity with our banking partners."
"We're proud to showcase ING's structuring expertise through innovative solutions like this sustainability-linked loan. It underscores our commitment to supporting clients across sectors, including engineering services, in embedding sustainability into their core strategies. We're honoured that this collaboration is being recognised as a benchmark for impactful financing in the region," said Michelle Kong, Head of Sector Coverage for ING Asia Pacific.
The Asset Triple A Awards for Sustainable Finance recognize organizations across Asia that actively contribute to and exemplify the burgeoning landscape of sustainable finance. The 'Best Deals for Sustainable Finance' category, nominated by participating banks, recognizes transactions that champion sustainable finance across diverse financial instruments, with a focus on their environmental and social contributions as defined by the 17 UN Sustainable Development Goals.
With this prestigious award, Quest Global and ING reaffirm their commitment to leading the way in sustainable finance and driving positive change within the engineering services industry.
About ING
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING's ESG rating by MSCI was reconfirmed by MSCI as 'AA' in August 2024 for the fifth year. As of December 2023, in Sustainalytics' view, ING's management of ESG material risk is 'Strong'. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell.
Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that's not. See how we're progressing on ing.com/climate.
ING In Asia Pacific
In Asia Pacific, ING offers wholesale banking across 11 markets, namely Australia, China, Hong Kong SAR, India, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan and Vietnam.
ING offers both retail and wholesale banking services in Australia. ING's regional presence includes a 13% stake in Bank of Beijing, China and a 23% stake in TMBThanachart Bank in Thailand.
About Quest Global
At Quest Global, it's not just what we do but how and why we do it that makes us different. We're in the business of engineering, but what we are really creating is a brighter future. For over 25 years, we've been solving the world's most complex engineering problems. Operating in over 18 countries, with over 85 global delivery centers, our 21,000+ curious minds embrace the power of doing things differently to make the impossible possible. Using a multi-dimensional approach, combining technology, industry expertise, and diverse talents, we tackle critical challenges faster and more effectively. And we do it across the Aerospace & Defense, Automotive, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor industries. For world-class end-to-end engineering solutions, we are your trusted partner.
Logo: https://mma.prnewswire.com/media/1830310/Quest_Global_Logo.jpg
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
