COSCO SHIPPING Ports Ltd, the worlds leading ports operator, has announced the launch of its green finance framework, which has successfully passed the verification by Hong Kong Quality Assurance Agency (HKQAA), demonstrating the companys commitment in driving green development.
Under the principles of enhancing economic and environmental benefits, applying innovation and technology, and making contributions to the community, COSCO SHIPPING Ports has been upholding the concept of sustainability in developing green and smart ports which offer mutual benefits, and achieving the targets of reducing carbon emission and promoting energy efficiency, with the aim of creating value for its stakeholders. The Framework, covering COSCO SHIPPING Ports and its subsidiaries, will serve as a comprehensive guideline in funding eligible green projects by way of green bonds or loans and regulating the use of proceeds, and facilitate future financing arrangements. Bank of China (Hong Kong) Ltd was the companys green finance advisor.
The Framework has been verified by HKQAA, a professional and independent institution, in accordance with applicable international standards including the Green Loan Principles and the Green Bond Principles. HKQAA confirmed that the Framework was aligned with the Green Finance Certification Scheme.
COSCO SHIPPING Ports participation in the Green Finance Certification Scheme fully demonstrates its commitment in driving the development of green and smart ports, and its support in Chinas advocacy of green finance development, and the economic development and regional cooperation in the Greater Bay Area and along the Belt and Road Initiative.
Going forward, COSCO SHIPPING Ports will continue to actively support the national policy by integrating green finance and sustainability into its business operations to further attract potential green finance investors, with an aim to create positive and sustaining value for its investors and stakeholders, stressed a release.