Hang Seng Bank launches $80b green financing solutions fund

The bank also launched green assessment and knowledge advocacy programmes.

Hang Seng Bank launched strategic support for enterprises with green financing, assessment, and advocacy initiatives.

For capital financing, Hang Seng launched an $80b Sustainability Power Up Fund, offering diversified green and sustainable financing solutions, including Green Equipment Financing, Social Loans, and Sustainability Linked Loans, to encourage businesses to reduce carbon emissions.

In terms of green assessment, Hang Seng, in partnership with the Hong Kong Quality Assurance Agency (HKQAA), launched the ‘SME Green Equipment Financing Assessment Platform’ for its customers, reducing assessment fees by over 90% and simplifying the process.

In addition, Hang Seng launched the Green and Sustainable Financing Assessment Subsidy Programme, offering eligible businesses cash rebates on assessment fees up to $200,000.

Lastly, Hang Seng established the ‘Hang Seng Carbon Academy’ to offer professional training courses and a platform for business exchanges to improve their Environmental, Social, and Governance (ESG) performance.