BRIC Team reports: Loan from HSBC and Hang Seng Bank, reportedly worth US$12.8 million, enhances city’s stature in sustainable finance, parties say This loan would provide a “scalable blueprint” for companies to achieve their sustainability goals and enhance Hong Kong’s position as a leading international sustainable finance centre, according to the two banks. The proceeds would support smart systems to support the maintenance and management of a newly established urban forest populated by native plant species, as well as surveys, assessments and monitoring of urban biodiversity at the project, according to the statement released by the developer and the banks.
The loan showed how sustainable financing could “help businesses integrate urban development with ecological development”, said Matthew Hung, head of global corporates in Hong Kong for HSBC, adding that it would also enhance “Hong Kong’s position as a leading international sustainable finance centre”. The parties did not disclose the loan size, but it was estimated at about HK$100 million, according to sources familiar with the matter. As part of the project, more than 400 trees and about 280 plant species would be planted across multiple gardens, the parties said.
Background
HSBC’s sustainability survey showed that around 60 per cent of Asian businesses now identified climate transition as a key strategic focus, Hung said.
Key facts
- The parties did not disclose the loan size, but it was estimated at about HK$100 million, according to sources familiar with the matter.
- As part of the project, more than 400 trees and about 280 plant species would be planted across multiple gardens, the parties said.
- HSBC’s sustainability survey showed that around 60 per cent of Asian businesses now identified climate transition as a key strategic focus, Hung said.
