Hang Seng Bank (0011) has increased the size of its sustainability financing fund Power up by 50 percent, from an original HK$80 billion to HK$120 billion, aiming to further support the green transition needs of its corporate clients.
Launched in 2024 with an initial HK$80 billion, over two-thirds of the fund had been utilized by the end of June this year. About 70 percent of the allocated funds were sustainability-linked loans for general operational purposes, with the remainder comprising green loans for specific projects and social responsibility loans.
Regina Lee Sau-yee, head of commercial banking at Hang Seng Bank, noted that corporate demand for green loans has exceeded expectations.
Additionally, with the growth of the silver economy, social responsibility loans are creating greater demand within sustainable financing categories. The bank has therefore topped up the fund to align with market trends and support businesses in their green transition.
Concurrently, Hang Seng has partnered with nine strategic collaborators to establish a "Sustainability Power Up Team." This platform provides corporate clients with environmental, social, and governance services.
Clients approved for the Power Up fund can use this platform to select needed solutions, gaining access to services covering energy consulting, technical training, advisory, and ESG reporting and ratings.
