HSBC and Chinachem Group Sign HKD 1 Billion Bilateral Sustainability Loan | Taiwan News
HONG KONG SAR – Media reach – December 8, 2021 – HSBC and the Chinachem Group (the âGroupâ or âChinachemâ) today announced the establishment of a three-year sustainability loan facility of HKD 1 billion to support the general working capital and capital expenditure of the Group in accordance with its sustainability objectives. The transaction reinforces the continued commitment of both companies to promoting green developments in Hong Kong’s real estate sector.
HSBC and Chinachem Group today announced the establishment of a three-year bilateral sustainability loan facility in the amount of HKD 1 billion. Photo includes Frank Fang, head of commercial banking services, Hong Kong, HSBC (second from left); Donald Choi, Executive Director and CEO, Chinachem Group (second from right); Sunny Poon, Head of Corporate (Commercial Real Estate & Infrastructure), Commercial Banking, Hong Kong, HSBC (first from left); and Kam Por Chan, CFO, Chinachem Group (first from right).
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As the sole lender and bank for structuring sustainable development, HSBC has structured the facility in an innovative way to meet the specific operating needs of Chinachem and encourage the Group to comply with a set of sustainable development measures, in particular the reduction of energy consumption and water consumption in its hotels and properties under management.
Recognizing sustainability as one of its core values, Chinachem has developed environmentally friendly properties and advocates green practices in all of its operations. To support sustainable development, the Group has built green properties and promoted green construction technologies, implemented energy saving measures in all of its buildings, as well as community activities organized to promote awareness of the environment.
Frank Fang, Head of Commercial Banking, Hong Kong, HSBC, said: âSustainability is an increasingly critical business agenda across different industries. We are delighted to organize the first sustainability related loan for the Chinachem Group, extending our long term relationship to support their commitment to contribute to the low carbon economy. As a leading bank in the sustainable finance market, HSBC will leverage its expertise and comprehensive solutions to help clients navigate the net zero transition.
Donald Choi, Executive Director and CEO of Chinachem Group, said: âAs the developer of ‘Places with Heart’, we strive to create vibrant, livable, sustainable and socially inclusive communities, guided by our triple bottom line. of People, Prosperity and Planet. With this first loan linked to sustainable development, we aim to promote and support environmentally and socially sustainable projects and to minimize our carbon footprint. We look forward to working with other like-minded partners to help Hong Kong transition to a carbon future. “
HSBC has integrated sustainability into its products and services, including access to capital markets, loans, banking, advisory services and investments. In addition to participating in the Chinachem Green Development Club’s first loan for its project in Ho Man Tin, HSBC has also organized and taken part in many sustainable financing solutions suitable for companies of different industries and sizes.
In June 2021, Chinachem launched its green financing framework to demonstrate how the Group intends to enter into green financing transactions to finance projects that will bring environmental benefits. To explore other opportunities to contribute to sustainable development, the Group is also developing a sustainable development framework that aims to achieve the 17 United Nations Sustainable Development Goals by 2030, which embody the balance between financial performance and community responsibility.
As part of these sustainability efforts and to meet growing customer demand for sustainable and responsible business practices, Chinachem is committed to achieving a series of Scientific Goals (SBTs) to support the long-term viability of its businesses and create sustainable value for sustainable development. A 2021 SBT review led to the âChinachem Group Carbon Reduction Roadmap – CCG 3050+â with a new, more aggressive carbon reduction target to reduce the group’s carbon emissions by 51.8% by 2030 compared to the base year 2020.
Since 1960, Chinachem Group has been one of the leading real estate developers in Hong Kong, with a portfolio covering residential, commercial, commercial and industrial buildings for sale and investment, in addition to the operation of hotels and services. property management. The Group actively seeks to make a positive contribution to society through its membership in the âTriple Bottom Lineâ, a commitment that its activities will benefit people, bring prosperity to the community and preserve the planet.
Hongkong and Shanghai Banking Corporation Limited
Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers around the world from offices in 64 countries and territories in its geographic regions: Europe, Asia, North America, Latin America, Middle East and North Africa. With assets of $ 2,969 billion as of September 30, 2021, HSBC is one of the world’s largest banking and financial services organizations.
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