ANZ has expanded its sustainable finance capability, launching green guarantee facilities in Hong Kong, Singapore, Europe, Australia and New Zealand.
The green guarantee solution supports customers in their transition to low carbon emission status by securing their contractual and performance obligations for environmentally sustainable projects.
ANZ Managing Director Transaction Banking Lisa Vasic said: “We’re proud to be one of the first banks globally to offer green guarantee facilities as we look for innovative ways to support our Institutional customers and their sustainability objectives. The establishment of this new product follows the natural evolution of the sustainable finance market while also meeting the changing needs of our customers.”
ANZ implemented a green guarantee facility of HKD117.8 million for a Vibro-led foundation project in the West Kowloon Cultural District. Vibro is a subsidiary of NWS Holdings Limited.
The facility is linked to the environmentally sustainable nature of the underlying assets financed and requires certain ESG criteria to be met. This includes attainment of a BEAM Plus New Building (Version 2.0) certification, a comprehensive standard for green properties in Hong Kong.
Vibro Director & General Manager Wallace Yeung said: “The Vibro-led joint venture is committed to embedding sustainability into the project, leveraging innovative solutions to enhance the overall environmental performance and wellness of staff and workers. We are glad to be partnering with ANZ on this financial innovation that supports creating shared value for the long-term sustainability development of the industry.”
ANZ Hong Kong Chief Executive Officer Peter Chan said: “This is our first Green Guarantee for low carbon buildings, and we’re delighted to partner with Vibro on this milestone transaction which further reinforces ANZ’s commitment to environmental sustainability. Our objective was to structure a solution which supported Vibro’s sustainability agenda and Hong Kong’s strong sustainability credentials.”
In addition to delivering a green building project, a number of environmental initiatives will be implemented during construction, including:
- Implementing Environmental, Energy and Safety Management System practices, certified against ISO 14001, 50001 and 45001
- Reducing use of diesel by adopting electrification measures and use of biodiesel where practicable
