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HSBC Named Asia’s Best Bank for Sustainable Finance by Euromoney

by Gopalakrishnan Nair
Raja Amir HSBC

HSBC has won the coveted award for ‘Best Bank for Sustainable Finance’ in Asia as part of the 2021 Euromoney Awards for Excellence. This is the fourth consecutive year in a row that HSBC has won this award.

According to Euromoney, “HSBC’s strength in sustainable finance is deep rooted and hard to match. HSBC ranks first for green, social, sustainability and sustainability-linked bond issues in APAC. It’s equally strong on sustainability-linked lending. But it’s more about the sense of leadership and this manifests itself in several ways”.

HSBC is setting out an ambitious plan to prioritise financing and investment that supports the transition to a net zero global economy. At the heart of the plan is a pledge to reduce financed emissions from the bank’s portfolio of customers to net zero by 2050 or sooner, in line with the goals of the Paris Agreement. To help customers achieve this goal, HSBC has an ambition to provide between USD750 billion and USD1 trillion of finance and investment by 2030.

In Malaysia, HSBC continues to be at the forefront of developing the sustainable finance market, helping to build a thriving, resilient future for society and businesses. In recent months, the bank has partnered with organisations in the country to bring new solutions to accelerate the pace of change. This includes the following:

  • HSBC acted as the joint lead manager and joint bookrunner on the Government of Malaysia’s US$800 million 10-year Sustainability Sukuk and US$500 million 30-year Sukuk, and HSBC Amanah Malaysia acted as the joint sustainable development goals (SDG) structuring agent on the 10-year tranche which represents the world’s first sovereign US Dollar Sustainability Sukuk.
  • HSBC Amanah was lead arranger for Leader Energy’s debut ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk issuance.
  • HSBC Amanah completed the first green trade financing facility for sustainable cocoa sourcing in Malaysia for Guan Chong Cocoa Manufacturer Sdn Bhd.
  • HSBC Malaysia acted as the sole lender for a US$44 million 5-year Committed Term Loan to HNG Capital to finance the acquisition of a stake in a 330MWsolar project in Vietnam.
  • HSBC Amanah launched an Islamic Green Trade Finance proposition with the issuance of a Green Bank Guarantee for Cenergi.
  • HSBC Amanah acted as sole sustainability structuring bank for Yinson’s RM200 million Sustainability-Linked Financing.

In April 2021, HSBC Amanah was also the first bank in Malaysia to announce the publishing of its Task Force on Climate-related Financial Disclosures (TCFD) report. The report supports Bank Negara Malaysia’s efforts to strengthen the financial industry’s capacity in managing climate-related risks.

“The pandemic has amplified the importance of sustainable finance for economic resilience. At HSBC , we are intensifying our support for customers to switch to more sustainable ways of doing business as we collectively work towards building a thriving low-carbon economy. The win from Euromoney is a recognition of our efforts in this space. In Malaysia specifically, HSBC has delivered a range of landmark sustainability solutions for our clients – this has been critical to developing the sustainable banking landscape in the country. HSBC Amanah itself is committed to transforming to become the Group’s first sustainable banking entity and the innovative solutions arranged and executed by HSBC Amanah, in partnership with businesses in Malaysia, are part of the journey to this important goal”, said Raja Amir Shah, CEO, HSBC Amanah.

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