Envision Energy Obtains Asia's First Green Syndicated Financing
Envision Energy is a division of Envision Group that focuses on green hydrogen solutions, smart wind power, and smart energy storage system technology. It recently said it had finished the first green syndicated loan in Asia that met both the Green Loan Principles and the Sustainability Linked Loan Principles.
Envision Energy will use the money to grow its global green sustainability business and use green science and technology to help the world move toward net zero.
Sustainalytics, a world-class ESG rating provider, conducted an unbiased assessment of the loan. Sustainalytics certified the company's green finance framework's quality and recognised Envision Energy's syndication as a sustainability-linked loan after thoroughly checking and reviewing Envision Energy's aspiration and SPTs (Sustainability Performance Targets) for sustainability.
The green syndicated loan attracted ten world-leading banks, including Commerzbank, Natixis, and the Bank of Communications, with HSBC and Citibank serving as joint global coordinators and HSBC serving as the sole sustainability coordinator.
Joseph Ma, Executive Vice President and Country Head of Commercial Banking of HSBC China, commented, "HSBC has a lot of experience in sustainable finance in major markets worldwide, so it can bring globally applicable expertise and financial standards to enterprises by structuring their green credit facilities. This syndicated loan not only reflects the advantage of HSBC in sustainable finance but also is a great example of supporting the development of a high-quality industry. This green syndicated loan also embodies the commitment and devotion of leading green-tech enterprises like Envision Energy for the development and applications in the green industry."
Xiuqing Le, Head of Envision Group Treasury, said: "As a global net-zero technology partner, Envision Group is dedicated to solving humankind's challenges for a sustainable future. Envision Group will collaborate with the world's leading sustainable financial institutions, like HSBC, to cultivate a new green industrial system and to advance the global net-zero transition.