HSBC named Asia’s Best Bank for Sustainable Finance two years running

“If there is one bank that is bringing the urgency of getting capital working for the planet, it is HSBC,” said Euromoney in its coverage of the awards, “The bank dominates in green bonds and green loans, and as a trusted bank in the sector, HBSC nearly always appears with firsts.” The publication noted that “the scope of the work at the bank covers every country in which it operates and every business line from retail banking to supply-chain finance.”

HSBC Singapore’s transactions included in the award submission for Asia’s Best Bank include:

• Singapore’s first GLP green loan for Ho Bee Land (GBP200m, HSBC Green Structuring Advisor and Joint Mandated Lead Arranger
• Ireland’s first ever GLP green loan for Singapore-based property group Oxley and Dublin based developer Ballymore (EUR77.3m, HSBC Sole Lender and Green Loan Coordinator)

Tony Cripps, Chief Executive Officer at HSBC Singapore, said: “Singapore has seen a string of landmark transactions in the sustainable finance field over recent years, underpinned by the Republic’s commitment and resolve to achieving a sustainable future. We are delighted to have contributed to this step-change, and this award recognises our team’s work in shifting the dial to help our clients understand the impact of climate change on their businesses. We want to play our role in ensuring that the region’s development is environmentally and socially sustainable, by driving a transformation of the financial system that underpins it. Our goal is to mainstream sustainable finance across all sectors.”

Euromoney noted that in Asia, HSBC has been ‘working across the entire region across the spectrum – helping improve livelihoods and helping companies with their low carbon transition’. The award highlighted HSBC as ‘the green structuring agent on more than half of the green, social or sustainability deals in the time period reviewed’.

HSBC has acted as Green Structuring Advisor² on over half of the bond deals where the bank was a bookrunner, covering more currencies and for more markets than any other bookrunner. HSBC was the leading bookrunner² in the Green/Social/Sustainable (GSS) league table in Asia (excluding China) with nearly USD3 billion worth of deals.

Daniel Klier, Global Head of Sustainable Finance at HSBC, said: ‘‘We are honoured that Euromoney have recognised our achievements to date. HSBC is proud of its work in Sustainable Finance, which is key to our long term strategy. We believe that we are still at the start of an exciting journey to a sustainable, low-carbon economy and will continue to support our customers’ investments in this area.”

Outside Singapore, the following landmark deals helped HSBC clinch this award, including:

• HSBC Amanah Malaysia’s UN Sustainable Development Goals Sukuk
• Hong Kong’s inaugural sovereign US$1bn green bond
• Link REIT’s green convertible bond, the first from the real estate sector
• Macquarie University’s first sustainable bond from a university

The award also cited HSBC’s holistic approach to sustainability, including:

• Research reports and events to communicate ESG to governments, corporates and investors;
• ESG-linked investment products and portfolio tools for retail and private banking clients, and
• SME funding in mainland China and microfinance initiatives in India
• Partnerships across Asia including the creation of a sustainable palm oil alliance and sustainable steel coalition, collaboration with the Apparel Impact Institute and launch of the Plastic, Ocean and Business Innovation forum in Hong Kong to support businesses targeting plastic clean-up and reduction.

“With sustainability integrated in every business line, across geographies, with a commitment to innovation and standard setting, HSBC is central to the evolution of sustainable finance”, said Euromoney.

Footnotes:
¹For 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world. Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,000 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries. Visit their website for more information.
²Dealogic, from 1 April 2018 to 31 March 2019