Envision Energy gains Asia's first green syndicated loan compliant with Green Loan Principles and Sustainability Linked Loan Principles

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Dec 21, 2022, 21:42 ET

SHANGHAI, Dec. 22, 2022 /PRNewswire/ -- On December 20, Envision Energy, Envision Group's subsidiary focused on smart wind power, smart energy storage system technology and green hydrogen solutions, announced the completion of Asia's first green syndicated loan compliant with both Green Loan Principles and Sustainability Linked Loan Principles by its prominent ESG (Environmental, Social, and Governance) performance and solid business growth. Envision Energy will apply the loan proceeds for its global green sustainability business to empower the world's net zero transition with green sci-tech innovation.

Sustainalytics, a world-class ESG rating provider, offered an independent opinion on the loan. Sustainalytics confirmed the quality of the company's green finance framework and recognized Envision Energy's syndication as a sustainability-linked loan, by thoroughly verifying and evaluating Envision Energy's ambition and SPTs (Sustainability Performance Targets) for sustainability.

The green syndicated loan had HSBC and CITIBANK as joint global coordinators, and HSBC as sole sustainability coordinator, which attracts ten world-leading banks including Commerzbank, Natixis, and the Bank of Communications.

Joseph Ma, Executive Vice President and Country Head of Commercial Banking of HSBC China, commented, "HSBC has a lot of experiences in sustainable finance in major markets worldwide, so that it can bring the 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 green industry."

Xiuqing Le, Head of Envision Group Treasury, said that 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.

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