HSBC Holdings (HSBA.L) and Singapore state investor Temasek are teaming up to set up a debt financing platform for sustainable infrastructure projects, with an initial focus on Southeast Asia.
The two companies said in a joint statement on Thursday they would invest a combined amount of up to $150 million of equity to fund loans in the initial phase. The Singapore-based platform aims to allocate more than $1 billion of loans within five years.
“The platform will target renewable energy and storage, water and waste treatment and sustainable transport to help meet carbon reduction targets and build resilience to offset the impact of climate change,” the companies said.
Noel Quinn, group chief executive of HSBC, said the partnership “aims to tackle some of the biggest barriers to financing sustainable infrastructure where it’s needed the most.”
The original full article can be found at reuters.com