Printer secures first green finance certificate for HK privately-held company
Leo Paper Group (Hong Kong) has become the first privately-held company in Hong Kong to complete a green loan
LEO Paper Group (Hong Kong) has become the first privately-held company in Hong Kong to complete a green loan following the signing of a HK$350 million (US$44.87 million) four-year green term and revolving credit facility with a group of seven banks, the company announced on September 3.
The proceeds will be used in accordance with the group’s 2018 green loan framework, which has earned the green finance of pre-issuance stage certificate issued by the Hong Kong Quality Assurance Agency (HKQAA) on August 13 this year. Leo Paper was also the first Hong Kong privately-held company to obtain such green finance certificate. In the past, the HKQAA green finance certification scheme had only accredited blue-chip listed companies.
During the past two decades, Leo Paper has focused on energy efficiency management, carbon and emissions reduction, solid waste and waste water management, green buildings, resources utilization and recycling of natural resources.
According to group chairman Samuel Leung, the group has invested over HK$150 million on green projects in the past six years and succeeded in saving 25.68 million kWh of electricity consumption and reduced carbon emissions by 13,540 tonnes.
Proceeds from the green loan, issued through Leo Paper’s wholly owned subsidiary Leo Paper Group Finance Limited, will be used to finance 20 green projects of the group in China in the coming few years. These include investments in plants and facilities used by the printing industry that aim at raising energy efficiency and reducing carbon emissions and waste, as well as projects that promote green construction.
The participating banks in the green loan facility include Bank of East Asia, BNP Paribas, Citi, Hang Seng Bank, HSBC, Mizuho Bank and MUFG Bank.
Since 1982, Leo Paper has engaged in business as a traditional printing company and since then, it has evolved into a leading global printing communications company. Over the years, it has continued to promote environmentally-friendly materials and cleaner production technologies.
To enhance its green manufacturing capability, not only has the group increased sourcing of green materials and developed products with green technologies, but it has also reduced waste and emissions, and has re-used resources.