The drive towards more sustainable business practices is the focus of a new range of products from HSBC Bank Canada.
It has launched new Green Finance products including term loans, commercial mortgages, and leasing; claiming a Canadian first for their alignment to the Loan Market Association’s Green Loan Principles, which set out market standards and guidelines across the wholesale lending market.
"As companies look to become more sustainable, they are investing in green projects and activities,” said Linda Seymour, Head of Commercial Banking at HSBC Bank Canada. “We can continue to support their aspirations through our Green Finance products, which support businesses as they pursue sustainable and environmentally-focused activities."
The commercial mortgages are available for purchasing new property, as well as refinancing or making sustainability improvements to existing buildings.
HSBC’s research shows that 95% of Canadian businesses are feeling the pressure to be more sustainable, motivated by the potential to grow sales (29%), improve their employer brand (24%) or improve transparency and traceability of their products (22%).
The new financing options are available to businesses of all sizes from SMEs to large corporations.
"Businesses have asked for products that are aligned to their sustainability goals, and we are confident this suite of Green Finance products will support them," added Seymour.