COSCO SHIPPING Ports successfully launches green finance framework
COSCO SHIPPING Ports Limited, the world’s leading ports operator, today announced the launch of its green finance framework, which has successfully passed the verification by Hong Kong Quality Assurance Agency, demonstrating the Company’s commitment in driving green development, according to the company's release.
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.
The Framework, covering COSCO SHIPPING Ports and its subsidiaries, will serve as a comprehensive guideline in funding eligible green projects by way of green bonds or loans and regulating the use of proceeds, and facilitate future financing arrangements.
Bank of China (Hong Kong) Limited was the Company’s green finance advisor. The Framework has been verified by HKQAA, a professional and independent institution, 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.
COSCO SHIPPING Ports’ participation in the Green Finance Certification Scheme fully demonstrates its commitment in driving the development of green and smart ports, and its COSCO SHIPPING Ports Limited support in China’s advocacy of green finance developmentand 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.
About COSCO SHIPPING Ports
COSCO SHIPPING Ports Limited is a leading ports operator in the world; its terminals portfolio covers the five main port regions in Mainland China, Southeast Asia, the Middle East, Europe, South America and the Mediterranean. As at 31 March 2021, COSCO SHIPPING Ports operated and managed 357 berths at 36 ports worldwide, of which 210 were for containers, with a combined annual handling capacity of 118 million TEU. COSCO SHIPPING Ports has adopted "The Ports for ALL" as its mission and is working towards building a global terminal network with controlling stake that offers linkage effects on costs, services and synergies, a synergistic platform that offers mutual benefits to all in the shipping industry, connecting global routes and becoming truly "the ports for all people".
