Green finance initiative launches

COSCO SHIPPING Ports Limited’s green finance framework aims to serve as a comprehensive guideline in funding eligible green projects by way of green bonds or loans and regulating the use of proceeds, and to facilitate future financing arrangements.

“Under the principles of enhancing economic and environmental benefits, applying innovation and technology, and making contributions to the community, COSCO SHIPPING Ports has been upholding the concept of sustainability in developing green and smart ports which offer mutual benefits and achieving the targets of reducing carbon emission and promoting energy efficiency, with an aim to creating value for its stakeholders,” said COSCO Shipping Ports.

The framework has been verified by Hong Kong Quality Assurance Agency (HKQAA), in accordance with applicable international standards including the Green Loan Principles and the Green Bond Principles. HKQAA confirmed that the framework was aligned with its Green Finance Certification Scheme.

COSCO SHIPPING Ports said its participation in the Green Finance Certification Scheme fully demonstrates its commitment in driving the development of green and smart ports, and its support for China’s advocacy of green finance development and the economic development and regional cooperation in the Greater Bay Area and along the Belt and Road Initiative.

Going forward, COSCO SHIPPING Ports will continue to actively support the national policy by integrating green finance and sustainability into its business operations to further attract potential green finance investors, with an aim to creating positive and sustaining value for its investors and stakeholders.