BOCHK signs the first green loan with Esquel Group

Bank of China Hong Kong has inked its first green loan in total of US$88 million with Esquel Group for the sustainable development garden project ‘Integral’ in Guilin, China.  The project aims to improve the efficiency of factory on energy, sewage treatment and pollution prevention of the group. Meanwhile, Bank of China Hong Kong is appointed as the green financial consultant of the group, work on other green loan framework development and certification with Hong Kong Quality Assurance Agency(HKQAA).

According to a LinkedIn post by Esquel Group, its vertically integrated operations include cotton ginning, spinning, weaving, knitting, as well as accessories and garment manufacturing.  The Group also promotes industry-changing technology and offers knowledge-based products, including digital supply chain and smart manufacturing solutions.  ‘Integral’is a project set in the scenic landscape of Guilin, China and covering over 500,000 square meters, embodies Esquel’s philosophy in sustainability and eCulture – ethics, environment, exploration, excellence and education.

Wilkie Wong, chief financial officer of Esquel Group, said: “As a family-owned private company, we have long adhered to green and sustainable development vision. As the first step in entering the green financial market, we are honored to receive green loan from BOCHK and green finance certification from the HKQAA."

"Both of the achievements demonstrate our commitment to sustainable development promise. Thank BOCHK for its continuous support to us, we are delighted to be working with such a forward-looking partner on the promotion of green finance. On the way we accomplishing our 2050 net-zero emissions commitment, we will continue research and develop innovative, environmentally friendly production processes to minimise the impact to the environment with the loan," Wong added.

Andy Kwok, deputy general manager of commercial banking department of BOCHK, said: "BOCHK is very pleased to cooperate with Esquel on green loans to support its vision of net zero emissions. Esquel, a leader in the textile industry, has been developing and introducing latest production technologies to provide high-quality employment, achieve green manufacturing and sustainable industrial development."

Kwok added that green loans provided to industrial and commercial customers in the first half of this year in total has already exceeded that of last year, "In the future, BOCHK will continue to provide customers with diversified green financial products and services, including green deposits, green loans, green consultants, and assisting companies to acquire green certifications and more, to support customers in their way transforming to sustainable business model and practicing green and low-carbon development.”

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