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COSCO Shipping Ports launches green finance framework

COSCO Shipping Ports launches green finance framework
The company was advised by Bank of China (Hong Kong) Limited

COSCO Shipping Ports has announced the launch of its green finance framework, aiming to drive sustainable development of green and smart ports.

The framework serves as a guideline in funding green projects via bonds or loans and regulating the use of the proceeds, as well as facilitating future financing arrangements.

It has received verification from the 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 the Green Finance Certification Scheme.

According to the terminal operator, its participation in the Green Finance Certification Scheme demonstrates its commitment to developing green ports and its support of China’s green finance development.

A statement from the company noted: “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.”