Syngenta Vietnam joins HSBC’s green capital mobilisation

Monday, Aug 08, 2022 16:37

Syngenta specialises in providing agro-pharmaceutical products, plant protection solutions and seeds, and is trusted by millions of farmers. — Photo coutersy of Syngenta

Syngenta Vietnam, a leading science-based agri-tech company, has just joined HSBC Vietnam's green journey by placing their very first green deposit with the bank.

This transaction will enable Syngenta Vietnam’s surplus money to be invested in sustainable and green projects and businesses, in line with the company’s global sustainability development strategy.

HSBC’s green deposit programme, the first of its kind in Viet Nam, is a channel to mobilise green funds from the bank’s corporate customers, investing them in environmentally friendly projects and initiatives, while ensuring a stable and predictable return.

Green deposits are used for the green financing, which is aligned with the HSBC Green Bond Framework and Green Loan Principles, under eligible green project themes (Renewable Energy, Energy Efficiency, Efficient Buildings, Sustainable Waste Management, Sustainable Land Use, Clean Transportation, Sustainable Water Management, Climate Change Adaptation).

Corporates can deposit their cash in both Vietnamese dong and US dollars, with the term of at least three months. On a quarterly basis, depositors will receive reports containing portfolio-level information regarding the use of deposited funds.

Since its official launch in Viet Nam last September, the programme has proven a great success, welcoming a number of corporate clients, mobilising a significant amount of green funds, enabling HSBC Vietnam’s green financing in renewable energy and green building projects across the country. — VNS

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