11/08/2022 | Press release | Distributed by Public on 11/08/2022 03:30
With their joint commitment to support small and medium enterprises (SMEs), DBS Hong Kong and CLP Power both recognise the need to make sustainable financing solutions more accessible to SMEs. Compared to larger corporate organisations, sustainable financing tends to be rarer among SMEs, who are often constrained by the lack of resources, time, expertise, and funds. This also applies to energy audits, which often require expertise and additional funding.
To help alleviate these challenges, DBS Hong Kong has partnered with CLP Power to offer flexible and innovative financing loan solutions to businesses. The solutions are pegged to CLP Power's energy-saving services, which include sustainability performance targets (SPTs). SPT performance is measured with reference to the assessment methodologies under CLP Power's present energy-saving funding schemes.
The financing solutions are the result of a collaboration between CLP Power and DBS Hong Kong and hinge on each company's unique expertise and capabilities. As a trusted utility company with a strong commitment to enhance customers' energy efficiency by offering energy management services such as energy audit, CLP Power has a long history of being a steadfast energy partner to customers. By combining CLP Power's comprehensive energy expertise with DBS' extensive experience in strategic green advisory and financing, the two companies are able to deliver comprehensive support and capital for clients, allowing them to invest in enhancing energy efficiency and expand their businesses sustainably.
To assist the seafood company Koon Tat Kai Limited ("Koon Tat Kai") in moving towards a more energy-saving business model, DBS Hong Kong offers banking support with preferential pricing upon the completion of an energy audit with CLP Power. CLP Power plays a crucial role in providing extensive guidance on energy consumption and best practices for Koon Tat Kai to maximise energy efficiency.
Ms Jolynn Wong, Head of Business Banking, DBS Bank (Hong Kong) Limited, stated, "This marks DBS Hong Kong's first SME banking package that comes with a pricing discount upon the completion of energy audit with CLP Power. We are thrilled to play a strategic role in assisting our client in their business, which not only supports the energy transformation of Koon Tat Kai, but also illustrates our capacity to tailor sustainable banking solutions to different transitional and business needs and drive sustainable business practices across the board."
Ms Lena Low, Senior Director, Customer Success & Experience of CLP Power commented, "As a trusted energy partner for business customers, CLP Power has introduced different energy management solutions such as energy audit service and offers different subsidy schemes to assist our customers to enhance energy efficiency and reduce carbon emissions. We are excited that these initiatives are being recognised to support the assessment of the sustainability performance for customers which we believe will further motivate our customers to save energy and help Hong Kong achieve carbon neutrality by 2050."
DBS Hong Kong and CLP Power are proud to announce the launch of a sustainable financing solutions that help companies in pursuit of a greener path by providing solutions that help them transition to more sustainable business models.
(From left) Ms Lena Low, Senior Director - Customer Success and Experience of CLP Power and Ms Jolynn Wong, Head of Business Banking, DBS Bank (Hong Kong) Limited.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named "World's Best Bank " by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank< /a>" by Euromoney and the world's "Most Innovative in Digital Banking " by The Banker. In addition, DBS has been accorded the "Safest Bank in Asi a" award by Global Finance for 13 consecutive years from 2009 to 2021.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About CLP Power Hong Kong Limited
CLP Power Hong Kong Limited (CLP Power) is the Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to more than six million people in its supply area.