Xinyi secures $1b green loan from DBS Bank

The 3-year loan will be invested in green production.

Manufacturing firm Xinyi Glass Holdings Limited has secured a 3-year long-term green loan, worth $1b, from the DBS Bank.

The loan, intended to fund investments in green production, will allow the company to develop a more comprehensive green projects in the future.

“The Group will make good use of the funds obtained to promote a more environmentally friendly production environment in its production complexes, use more renewable energy to reduce total carbon dioxide or greenhouse gas emissions,” Lee Yin Yee, B. B. S., Chairman of Xinyi Glass, said.

This is also in line with the Group’s “Leading a Green New Life” Development vision as well as forms part of its contribution to Hong Kong’s efforts in becoming the “green financial center in the Greater Bay Area.

Moreover, this also aimed to help China’s goal of attaining carbon neutrality by 2060.

The Group has previously secured a $4.6b green loan from various banks and making constituent of several MSCI ESG Indices.

“Xinyi Glass has been committed to product research and development as well as innovation in developing energy-saving and environmentally friendly products,” Lee also said, adding the Group has increased investments for energy-saving developments amongst others.