Swire Properties Secures HK$1 Billion Green Loan From OCBC Bank
Swire Properties has signed a five-year HK$1 billion Green Loan Facility with OCBC Bank, which is part of the developer’s ongoing efforts to implement green initiatives at its properties around the world and drive green financing in the real estate industry.
As part of Swire Properties’ Sustainable Development (SD) 2030 Strategy, this partnership will fund ongoing green building developments, and allow the Company to adopt environmentally-friendly technologies to save energy, as well as reduce water usage and waste, to name but a few highlights.
Among the projects earmarked to benefit from this loan is Two Taikoo Place – the new triple Grade-A office tower at Taikoo Place which is set to launch in 2022. The building has incorporated many green features in its design and has already earned triple Platinum pre-certification in WELL, BEAM Plus, and LEED.
“This newest green financing program will expand our ‘green’ capabilities and get us one step closer to reaching our SD 2030 Strategy goals and fulfilling our mission of building vibrant sustainable communities,” said Guy Bradley, Chief Executive of Swire Properties. “Whether it’s green bonds or sustainability-linked loans, we continue to raise the bar in this new investment sector, and we’re delighted to work with a forward-looking partner such as OCBC to encourage green financing and do good for the environment.”
Tan Wing Ming, Regional General Manager for North East Asia of OCBC Bank, said, “We’re proud to be part of Swire Properties’ sustainability journey which began years ago and has reached yet another milestone with this green loan. Sustainable finance is becoming more mainstream in Hong Kong thanks to the leadership by businesses such as Swire Properties. With growing interest from our clients, Hong Kong will continue to be an important market for us as we work towards our goal of building a S$25 billion sustainable finance portfolio by 2025.”
In 2019, Swire Properties was the first company in Hong Kong to launch a sustainability-linked loan against its year-on-year environmental, social and governance (ESG) performance improvement targets; and in 2018, the Company also issued its first green bond, which was also the first in the city to obtain certification under the Green Finance Certification Scheme by the Hong Kong Quality Assurance Agency.