Hong Kong property developer Chinachem Group and HSBC have arranged a three-year sustainability-linked loan facility of HK$1 billion (HK$128.24 million) to support Chinachem’s general working capital and capital expenditure in accordance with its sustainability objectives.

HSBC, as the transaction’s sole lender and sustainability structuring bank, has structured the facility to meet the operational needs of Chinachem and incentivize it to fulfil a set of sustainability metrics, including reduction in energy and water consumption in both its hotels and properties under management.

The bank, in addition to participating in the developer's first green club loan for its Ho Man Tin project, has arranged and taken part in numerous sustainable financing solutions tailored for companies of different sectors and sizes.

Chinachem, in support of sustainable development, has built green properties, promoted green construction technologies, and implemented energy-saving measures throughout its buildings.

"With this first sustainability-linked loan, we aim to promote and support environmentally and socially sustainable projects and minimize our carbon footprint,” says Donald Choi, Chinachem’s CEO. “We look forward to working with other like-minded partners to help Hong Kong transition to a brighter, zero-carbon future.”