Giti Tire announced that it officially issued Sustainability Notes totaling S$150 million (approx. $115 million), jointly arranged by DBS Bank, Deutsche Bank, and HSBC. The issuer priced the five-year Singapore-dollar notes at par with a coupon rate of 5.750%. It will finance or refinance eligible green and social projects described in Giti’s Sustainable Finance Framework. Moody’s issued a Second Party Opinion (SPO) on the framework, which is available on Giti’s website.
In its 2024 Sustainability Report, Giti defines REAL profit as profit earned after factoring in sustainability considerations. It aims for net zero at cash neutrality. This approach balances environmental goals with strong financial discipline, it said.
“Considerations are made regarding the cost of implementation,” said Dr. Pang Chong Hau, chief sustainability officer at Giti. “We work closely with partners to expand the definition of value, achieving a balance where the benefits and savings generated by sustainable practices offset the cost of their implementation. This ensures that sustainability and profitability move hand in hand.”
Giti Tire Sustainability Notes
Giti Tire said the Sustainability Notes will help fund multiple green initiatives. It has collaborated with a leading electric vehicle manufacturer to develop the GitiSport e.GTR2 Pro tire, which equipped the world’s fastest production car, reaching 496.22 km/h.
In another initiative, GitiSynergy H2 tires are powering a world-record attempt for “Most Countries Visited in an Electric Vehicle.”
The vehicle has traveled more than 80,000 km (approx. 50,000 miles) across 70 countries.
Sustainable Manufacturing and Recognition
At the manufacturing level, Giti said its new Hefei, Anhui factory advances sustainable tire production. The facility includes 35,000 sq. m. of rooftop solar panels and features the company’s first net-zero tire production line. Giti said it expects these systems to cut annual emissions by 20–30%.
Global organizations have recognized Giti’s sustainability achievements. The company holds the CDP Disclosure badge and EcoVadis Platinum Award. It recently introduced a 93% sustainably sourced concept tire made from renewable and recycled materials.
“At Giti, sustainability is not a response to regulation. It is a responsibility we embraced long before global frameworks took shape,” said Dr. Enki Tan, executive chairman of Giti. “These Sustainability Notes represent a statement of intent and accountability, accelerating projects that reduce emissions and support communities where we operate.”
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