Awards for Excellence 2019
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There are several banks in Asia that are deeply committed to helping the region continue economic growth but also to addressing the challenge of carbon intensity, but one bank in particular, HSBC, is working across the entire region across the spectrum – helping improve livelihoods and helping companies with their low carbon transition.
HSBC was the green structuring agent on more than half of the green, social or sustainability deals in the period reviewed and boasts a series of firsts in its deal roster, such as the first green convertible bond in the real estate sector for Link Reit, the first green loan in Singapore for Ho Bee Land, and the first UN Sustainable Development Goals Sukuk.
Its breadth of deals geographically is unbeatable, advising on or leading deals in Japan, India, South Korean, Australia, Indonesia and China. And that deal roster contains deals of all sizes and types.
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| Jonathan Drew |
This year HSBC was adviser to Engie’s $5.5 billion sale of its 69.1% stake in Glow Energy to Global Power Synergy Public Company as Engie reduces its carbon footprint.
“Our goal is to mainstream sustainable finance, not just looking at high carbon sectors, but looking at all sectors and seeing what can be done,” says Jonathan Drew, managing director, Infrastructure and Real Estate Group Asia. That commitment is apparent in the number of working groups and policy developments that the bank is not just included in, but in many cases has initiated or leads.
The bank has developed products for its retail and private banking clients such as an ESG factor engine that enables investors to exclude high carbon or low ESG-scoring entities from their portfolios, or ESG-linked notes.
HSBC also provides access to funding for small and medium-sized enterprises in China through HSBC Rural Bank and supports 600,000 people through microfinance initiatives in India.
