China Hongqiao Group Limited Wins the Best Sustainability-Linked Loan Aluminum (China - Offshore) Award at The Asset Triple A Awards 2024

China Hongqiao Group Limited has recently garnered the award of the Best Sustainability-Linked Loan Aluminum (China - Offshore) at The Asset Triple A Awards 2024 hosted by The Asset, a world’s leading financial magazine.

Christine Wong(Executive Director and Head of Corporate Finance) andLucia Yu(Head of Investor Relations) from China Hongqiao Group attended the grand awards presentation ceremony held at Four Seasons Hotel Hong Kong on March 12, 2024. Other attendees includedTao Qu(Chief Representative of China Exim Bank Hong Kong Representative Office),Alex Sham(Executive Managing Director and Deputy Head of Corporate Operations at China CITIC Bank International),Stockor Ng(Managing Director and Head of Structured Finance, Wholesale Banking Group at China CITIC Bank International),Lei Fang(Managing Director at Crédit Agricole CIB),Antoine Rose(Head of Sustainable Investment Banking, APAC & ME at Crédit Agricole CIB) andAlice Zhang(Senior Banker at Crédit Agricole CIB).

The Asset Triple A Awards are built upon a stringent methodology to the selection of the winners by a board of adjudicators including professional investors and financial analysts, with the aim to recognize institutions and enterprises that delivered excellent business performance over the past year. It has been recognized as one of the most credible awards in Asian investment field. Winning the award undoubtedly serves as a recognition of the commitment of China Hongqiao Group in Environmental, Social and Governance (ESG). It further demonstrates the fruitful achievements and positive influence of the group in this field. 

Notably, the group issued a Sustainability-Linked Loan (SLL) worth HK$2.33 billion (with Green Shoe Option available) in early 2024. As ESG increasingly emerges as the spotlight of financial sector, SLL continues to grow steadily in major Asian and global markets. The SLL offered by China Hongqiao Group Limited marks the first one focusing on carbon emissions reduction in China’s primary aluminum industry. It evidently showcased the group’s steady progress in environment protection and sustainable operations. The popularity of the SLL shows investors’ strong confidence in the group’s loan offerings. 

The group has selected key performance indicators (KPIs) in the process of the loan project preparation. It takes the reduction of greenhouse gas emission intensity (Scope 1 and 2) as an indicator, set emission reduction goals annually with reference to the greenhouse gas emission intensity (Scope 1 and 2) reduction pathways of the global leading aluminum proposed by International Aluminum Institute (IAI), It is of great significance for the group to obtain the dual Second Party Opinions from Sustainalytics and S&P Global Ratings, the international credit rating agencies, thereby conforming to Sustainability Linked Loan Principles (SLLP).

Looking ahead, China Hongqiao Group will continue to promote in the ESG field, steadily progress in SLL, actively seek more diversify financing methods, and release adequate and effective resources to promote green low-carbon development while providing excellent value-added returns to the shareholders.

Note: 1. According to the Greenhouse Gas Protocol (GHG Protocol), Scope 1 emissions are direct greenhouse (GHG) emissions that occur from sources that are controlled or owned by an organization; Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling.

About The Asset Triple A Awards

The Asset Triple A Awards is hosted by The Asset, an international authoritative financial magazine, and decided through stringent review by a board of adjudicators, including professional investors and financial analysts, by way of questionnaire inquiry, institutional investors voting, and consultation with professional investors, among other methods. Listed companies in Asian Pacific regions are evaluated in financial performance, corporate governance, social responsibility, environmental responsibility, information disclosure and communication, and investor relations, and those excel in their respective industry will be distinguished. The Asset Triple A Awards is authoritative and influential in Asian and global financial markets.

Source: China Weiqiao Pioneering Group WeChat Official Account