Hong Leong Bank group managing director and CEO Kevin Lam
KUALA LUMPUR: Hong Leong Bank Bhd
(HLB) has unveiled its inaugural Sustainable Finance Framework (SFF), which aims to mobilise RM20 billion over the next five years to support green projects.
HLB said the framework would provide financing to support the transition towards a sustainable future, aligning with the bank's broader sustainability objectives. The framework enables the financing of green projects related to renewable energy, energy efficiency, green building, affordable housing, clean transportation and logistics, and waste management.
Group managing director and chief executive officer Kevin Lam said the bank sees sustainability as a catalyst for growth, driving positive transformation for its customers and expanding its reach.
"By integrating environmental, social, and governance (ESG) considerations into our core strategies, processes, and solutions, we strive to find common ground between our responsibilities and business needs.
"This SFF will sharpen our focus on financing projects that support the adoption of renewable energy, energy efficiency, green buildings, circular economy, sustainable transportation and logistics... ultimately contributing to Malaysia's decarbonisation goals," he said in a statement.
The bank said the SFF ensures responsible and transparent sustainable finance and adheres to key principles and standards, including the Loan Market Association's (LMA) Green, Social and Sustainability-linked Loan Principles; the International Capital Market Association's (ICMA) Green, Social and Sustainability Bond Principles; and the Asean Taxonomy for Sustainable Finance (Version 3).
The bank’s chief sustainability officer Chow Sheng Wai said the framework is a pivotal step in integrating sustainability into HLB's core business strategy, demonstrating its commitment to managing ESG risks and proactively creating value and positive impact through sustainable finance. - Bernama
