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BEA advances in sustainability with $71b GSF loans and ESG bond investments

The bank also recorded a 31% drop in emissions.

The Bank of East Asia (BEA) has recorded almost $71b green and sustainable finance (GSF) loans and ESG bond investments, representing a 26.4% growth year-on-year (YoY).

This was amongst the achievements BEA has reported under its environmental, social, and governance (ESG) report for 2023.

In the same year, BEA became the first Chinese member of the net-zero banking alliance (NZBA), a global alliance of leading banks committed to transitioning towards a net-zero carbon economy.

In addition, the bank has developed a data platform that calculates and monitors financed emissions and a climate risk heat map that identifies climate-related risks for high carbon-emitting sectors.

In terms of operations, the bank has also reduced its emissions by 31%.

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