Hang Seng Bank : and HKQAA Team Up to Drive Green and Sustainable Financing (24 August 2021)

24 August 2021

Hang Seng and HKQAA Team Up to Drive Green and Sustainable Financing Duo aim to help companies use green financing to capture business opportunities in the GBA and to facilitate transition to low-carbon economy

Hang Seng Bank (Hang Seng) and Hong Kong Quality Assurance Agency (HKQAA) announced a collaborative initiative under which they will leverage their respective strengths to promote green finance and contribute to environmental protection and sustainable development.

Encompassing areas such as professional green finance certification and evaluation and sustainable and green financial product development, the collaboration will help corporates and SMEs to make their operations greener and begin transitioning towards a low-carbon future. The joint initiative also aims to advance Hong Kong's position as a leading international centre for sustainable finance and facilitate the development of innovative green finance and climate-change initiatives in the Greater Bay Area (GBA).

Hang Seng is significantly stepping up its actions to expand green financing for commercial customers. With a new team focusing exclusively on green financing solutions for business customers, the Bank approved about HK$6.6 billion in green loans for projects focused mainly on green building, renewable energy and energy efficiency in the first half of this year. HKQAA is already playing an important role in this activity by providing professional low-cost assessments of many companies' green loan applications in order to help them obtain green financing approval.

The scope of the increased cooperation between the two organisations is designed to drive further momentum in this growing area of business and help commercial customers to capitalise on the enormous opportunities presented by economic activity in the GBA by planning for long-term growth in a sustainable way.

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Donald Lam, Head of Commercial Banking at Hang Seng Bank, said: "Hang Seng is committed to promoting the environmental, social and governance (ESG) development of the banking industry and supporting the transition to a low-carbon economy. In addition to setting ourselves challenging internal targets, including being carbon-neutral in our operations by 2030, we are also actively expanding our support for customers that are seeking to operate and grow their businesses in line with good ESG principles. We are delighted to have HKQAA as a partner as we work to make it faster, easier and more cost- effective for companies to access sustainability-linked financing, and to provide customers in the GBA with more products and services that will facilitate the transition to a low- carbon future."

Dr Michael Lam, Chief Executive Officer of HKQAA said, "HKQAA actively supports Hong Kong's financial and sustainable development. Being supported by the Hong Kong SAR Government, we launched the Green Finance Certification Scheme in 2018. In May of this year, in response to Government policies and market needs, we took a further step and rolled out the Green and Sustainable Finance Certification Scheme. We expect our cooperation with the Hang Seng Bank will help promote the green and sustainable economy in the region and shape a better future."

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Hang Seng Bank (Hang Seng) and Hong Kong Quality Assurance Agency (HKQAA) are delighted to announce their latest collaborative initiative to drive sustainable financing. Pictured: Dr Michael Lam, Chief Executive Officer of HKQAA (left) and Donald Lam, Head of Commercial Banking at Hang Seng Bank (right).

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About Hang Seng Bank

Hang Seng Bank is celebrating its 88th anniversary this year. Founded in 1933, the Bank has continually innovated to provide best-in-class,customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.5 million customers.

Combining its award-winning mobile app and strong digital capabilities with a vast network of about 290 service outlets in Hong Kong, Hang Seng offers a seamless omni- channel experience for customers to take care of their banking and financial needs anytime, anywhere.

Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei.

As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community.

Hang Seng is a principal member of the HSBC Group, one of the world's largest banking and financial services organisations. More information on Hang Seng Bank is available at www.hangseng.com.

About Hong Kong Quality Assurance Agency

HKQAA is a non-profit organisation established by the Hong Kong Government in 1989. As one of the leading conformity organisations in the region, HKQAA is committed to providing certification and assessment services. Through knowledge sharing and technology transfer, HKQAA helps enterprises enhance management performance and competitiveness.

In addition to introducing world-class management systems, HKQAA has launched a wide range of innovative services to cope with increasingly diversified market demands and the growing need for sustainable development, bringing benefits to the community. HKQAA has developed diverse services and has ample experience in the fields of social responsibility, environmental protection, sustainability and responsible investment.