DBS Hong Kong extends first ESG loan of RMB 1 billion to China Resources Land Limited | 繁體
The agreement is the first ESG loan between DBS Hong Kong and CR Land. As the first ESG loan received by CR Land, the loan will not only direct towards the company’s general corporate funding requirements, but also enable the company to step up efforts in sustainable business development.
Joining hands with DBS Hong Kong to promote sustainable development, CR Land is committed to building better cities through a focus on property quality as well as forward-thinking responses to addressing broader environmental issues such as climate change. This year, CR Land has an upgraded MSCI ESG Rating at BBB, and is listed in the Hang Seng Corporate Sustainability Index and the Hang Seng ESG 50 Index. 
CR Land is actively supporting the realisation of China’s target of hitting peak carbon emissions by 2030 and attaining carbon neutrality by 2060. CR Land has established special task force with cross-team efforts to conduct research on peak carbon emissions and carbon neutrality, formulate solutions and paths that work towards the goals. Meanwhile, CR Land is making good progress in the development of green architecture, prefabricated buildings, energy management and green financing.
As DBS bolsters efforts to help clients embracing sustainability, the Bank has raised its sustainable finance target to SGD50 billion by 2024, accelerating its sustainability agenda in helping customers incorporate sustainable business practices into their overall business strategy. The commitment reinforces DBS’ efforts in responsible banking which is a key pillar of the bank’s approach to sustainability.
DBS continues to see a good mix of sustainable financing deals across the markets it operates in, and across sectors. The ESG transaction marks another milestone in a longstanding partnership between China Resources Group and DBS that spans more than 15 years. As one of its top offshore banking partners, DBS has consistently served the Group across multiple entities and industries, from real estate, energy, and chemicals to healthcare and microelectronics. DBS has played a comprehensive and leading role in many of the Group’s deals.
Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, said, “DBS has proudly and unceasingly supported China Resources Group over the years. It is our privilege to extend our partnership with this ESG loan and assist China Resources Land in forging a sustainable future for the country.”
Guo Shiqing, Chief Financial Officer and Assistant President of China Resources Land Limited, said, “The successful ESG loan transaction is a recognition of CR Land’s ESG work by financial institutions. Moving forward, CR Land will continue to improve ESG management level and work along with local and foreign financial institutions to support the realisation of “dual carbon” goals.”
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