Chinese property developer, Chinachem Group, has announced the launch of its enhanced Sustainable Finance Framework (CCG SF Framework), designed to further capitalise on sustainable financing opportunities and support its commitment to becoming a socially and environmentally responsible business.
Building on the Green Finance Framework established in 2021, the updated CCG SF Framework expands its alignment with the United Nations Sustainable Development Goals, reinforcing Chinachem’s business strategy and long-term vision.
Notably, Chinachem is the first real estate developer in Hong Kong to align its framework with both the Hong Kong Taxonomy for Sustainable Finance, introduced by the Hong Kong Monetary Authority in May 2024, and the International Platform on Sustainable Finance’s (IPSF) Common Ground Taxonomy. The framework also incorporates the latest international standards and best practices, including the Green Bond, Green Loan, Social Bond, and Social Loan Principles, with a Second Party Opinion provided by ISS-Corporate Solutions.
Andy Cheung, Executive Director and Chief Executive Officer of Chinachem Group said, “At Chinachem, we recognise that sustainable financing plays a key role in our broader efforts to support the transition to a low-carbon economy and more liveable city. A more comprehensive and robust sustainable finance framework further strengthens the governance of our financial decision-making process, bringing us closer to our goal of creating long-term value for our stakeholders and the communities we serve.”
As part of the new framework’s launch, Chinachem secured its first-ever Social Loan, a HK$150-million (US$19.3 million) facility from Standard Chartered, dedicated to funding social projects including community investment, cultural heritage preservation, affordable housing, and age-friendly building development.
Helen Hui, Head of Coverage, Hong Kong and Greater China, Corporate and Investment Banking, Standard Chartered said, “Standard Chartered is proud to be the Sole Sustainability Advisor for Chinachem Group’s enhanced CCG SF Framework and its debut Social Loan. Sustainability is a strategic priority for Standard Chartered. Through our full suite of sustainable finance solutions, we are dedicated to supporting our clients to deliver on their environmental and social sustainability goals, whilst catalysing Hong Kong’s growth as an international sustainable finance centre.”