KUALA LUMPUR: HSBC has received the coveted award for “Greatest Financial institution for Sustainable Finance” in Asia as a part of the 2021 Euromoney Awards for Excellence, which affirms its precedence for financing and funding that helps the transition to a web zero international financial system.
In a press release, HSBC mentioned this was the fourth consecutive 12 months in a row the financial institution has received this award.
In line with Euromoney, “HSBC’s energy in sustainable finance is deep rooted and laborious to match. HSBC ranks first for inexperienced, social, sustainability and sustainability-linked bond points in Apac.
“It’s equally sturdy on sustainability-linked lending. Nevertheless it’s extra in regards to the sense of management and this manifests itself in a number of methods.”
HSBC mentioned it’s setting out an bold plan to prioritise financing and funding that helps the transition to a web zero international financial system.
Importantly, it pledged to scale back financed emissions from the financial institution’s portfolio of shoppers to web zero by 2050 or sooner, consistent with the objectives of the Paris Settlement.
To realize this, HSBC desires to supply between US$750bil and US$1 trillion of finance and funding by 2030.
In Malaysia, HSBC continues to be on the forefront of growing the sustainable finance market, serving to to construct a thriving, resilient future for society and companies.
In latest months, the financial institution has partnered with organisations within the nation to carry new options to speed up the tempo of change.
* HSBC acted because the joint lead supervisor and joint bookrunner on the Authorities of Malaysia’s US$800mil 10-year sustainability Sukuk and US$500mil 30-year Sukuk.
* HSBC Amanah Malaysia acted because the joint sustainable growth objectives (SDG) structuring agent on the 10-year tranche which represents the world’s first sovereign US Greenback Sustainability Sukuk.
* HSBC Amanah was lead arranger for Chief Power’s debut Asean Inexperienced Sustainable and Accountable Funding (SRI) Sukuk issuance.
* HSBC Amanah accomplished the primary inexperienced commerce financing facility for sustainable cocoa sourcing in Malaysia for Guan Chong Cocoa Producer Sdn Bhd.
* HSBC Malaysia acted as the only real lender for a US$44mil five-year Dedicated Time period Mortgage to HNG Capital to finance the acquisition of a stake in a 330MW photo voltaic venture in Vietnam.
* HSBC Amanah launched an Islamic Inexperienced Commerce Finance proposition with the issuance of a Inexperienced Financial institution Assure for Cenergi.
* HSBC Amanah acted as sole sustainability structuring financial institution for Yinson’s RM200mil sustainability-linked financing.
In April 2021, HSBC Amanah was additionally the primary financial institution in Malaysia to announce the publishing of its job drive on climate-related monetary disclosures (TCFD) report.
The report helps Financial institution Negara Malaysia’s efforts to strengthen the monetary trade’s capability in managing climate-related dangers.
HSBC Amanah CEO Raja Amir Shah (pic) mentioned the pandemic has amplified the significance of sustainable finance for financial resilience.
“At HSBC, we’re intensifying our help for patrons to modify to extra sustainable methods of doing enterprise as we collectively work in direction of constructing a thriving low-carbon financial system.
“The win from Euromoney is a recognition of our efforts on this area. In Malaysia particularly, HSBC has delivered a variety of landmark sustainability options for our purchasers – this has been vital to growing the sustainable banking panorama within the nation.
“HSBC Amanah itself is dedicated to reworking to develop into the group’s first sustainable banking entity and the modern options organized and executed by HSBC Amanah, in partnership with companies in Malaysia, are a part of the journey to this essential purpose.”
In 2020, HSBC Amanah received the Islamic ESG Financial institution of the Yr award as a part of The Asset Triple A Islamic Finance Awards.