KMB Signs 5-year HK$500 million Green Loan To Drive Sustainable Developments and Achieve Green Transport
The Kowloon Motor Bus Company (1933) Limited (“KMB”) announced today to sign a 5-year HK$500 million green loan with Bank of China (Hong Kong) Limited (“BOCHK”). The proceeds will be used for funding sustainability- and environmental, social and governance- (ESG) related initiatives, marking the first green loan of KMB. Meanwhile, KMB has also become the first franchised bus operator in Hong Kong to promote sustainable development with green loan, committed to combating climate change with the community.
The green loan, which is used for sustainability-related initiatives, including purchasing the latest model of eco-buses, electric buses and solar panels, will enable KMB to reduce carbon emissions generated by operations and promote green transport.
KMB is committed to promoting environmental protection and plans to use new energy for the entire bus fleet by 2050. Mr Joseph Leung, Financial Controller of KMB, said, “KMB is duty-bound to promote green transport. In addition to improving ESG performance in daily operations, sufficient funds are an important strategy for accelerating electrification and zero emission. KMB is grateful that our vision has been recognised and supported by BOCHK. We will continue to identify suitable financing solutions and lead Hong Kong’s transportation industry into a new-green era.”
Ms Kennis Chong, Deputy General Manager, Global Corporate Banking Department of BOCHK, said, “Sustainability is a strategic goal of BOCHK. We are pleased to arrange the first green loan for KMB to enhance the environmental performance and efficiency of its entire bus fleet. The green facility will help advance sustainable development of the public transport sector, sharing our vision of promoting ‘sustainable and smart living’ in the city. Catering for the green finance needs of corporate customers from different sectors, BOCHK will continue to provide tailored green finance solutions, so as to drive sustainable development together with our customers.”
KMB will install about 22,000 solar panels in depots, on bus termini, bus shelters, bus poles and bus rooftops, purchase electric buses and build electrified bus depots. KMB is dedicated to introducing innovative technologies and environmental protection solutions.
Photo caption: KMB announced to sign a 5-year HK$500 million green loan with BOCHK. Representatives include (from left) Mr Joseph Leung, Financial Controller and Mr Steve Hui, Administration Director of KMB, and Ms Kennis Chong, Deputy General Manager and Mr Calvin Woo, Assistant General Manager, Global Corporate Banking Department of BOCHK.