HSBC grants HK$1b green loan to Chinachem Group

The group plans to cut in half its carbon emissions by 2030.

HSBC has granted a three-year sustainability-linked loan facility of HK$1b to Hong Kong property developer, Chinachem Group.

HSBC acted as the sole lender and sustainability structuring bank for this facility.

Chinachem Group plans to use the proceeds for its general working capital and capital expenditure.

Chinachem is also formulating a Sustainability Development Framework that works towards realising the United Nations' 17  Sustainable Development Goals by 2030.

It also plans to cut its carbon emissions by 51.8% in 2030, compared with the base year of 2020.