CK Asset goes green with new loans

CK Asset (1113) has announced its first sustainability-linked loans, which comprise of a HK$3.5 billion loan signed with China Construction Bank (Asia) Corporation and a HK$2 billion loan signed with MUFG Bank (Hong Kong).

According to CK Asset, interest on such loans drop greatly when environmental targets - including a reduction in greenhouse gas emissions - are met over time.

Edmond Ip, deputy managing director of CK Asset and chairman of CK Asset's sustainability committee, said: "As a leading multinational corporation with businesses spanning the globe, CK Asset appreciates the differences in social, environmental and economic needs in each individual market. This appreciation inspires us to pursue a balance among people and community, environmental protection and corporate governance, and to continuously reinforce these considerations into our business operation in order to achieve sustainability and create long-term value for our stakeholders."

Two months earlier, Sun Hung Kai Properties (0016) signed a sustainability-linked loan of HK$8.65 billion to reduce its carbon footprint, which is also the biggest loan associated with sustainability targets in Hong Kong.