*** HSBC Bank Canada serves as Co-structuring Advisor and Joint Lead Manager ***
VANCOUVER, British Columbia–(BUSINESS WIRE)– HSBC Bank Canada acted as co-structuring advisor and joint lead manager on December 1, 2029 for the inaugural green bond issuance of the Canadian government’s benchmark CAD5 billion on March 22, 2022. It is the government’s first green bond issue since the publication of its Green Bond Framework earlier this month, and is the largest Canadian-denominated green bond ever.
The inaugural Green Bond will create new financing opportunities that will accelerate projects ranging from green infrastructure to nature conservation, while also spurring the development of Canada’s sustainable finance market.
“I am proud that HSBC is supporting the Government of Canada by contributing our expertise to its sustainable development and determination to combat climate change,” says Scott Lampard, Head of Global Banking at HSBC Bank Canada. “This highly successful inaugural transaction highlights the strength of its green bond framework and, importantly, its commitment to transition to net zero by 2050.”
In October 2020, HSBC announced an ambitious plan to prioritize financing and investment that supports the transition to a net zero global economy.
We have committed to aligning financial emissions with the Paris Agreement goal of achieving net zero by 2050 or earlier, and in our own operations and supply chains by 2030. HSBC offers clients a suite of green and sustainable products and solutions in capital markets, commercial banking. , Global Banking, Asset Management and Transaction Banking.
In Canada, HSBC has been at the forefront of the growth and development of the sustainable finance market in Canada, which includes:
Working with the Ontario and Quebec governments and Crown corporations, including Export Development Canada, as Joint Lead Manager for their inauguration and subsequent Green Bonds;
Joint lead manager on the recent CAD1.0 billion 10-year inaugural green bond issuance to the Public Sector Pension Investment Board as well as being the co-structuring advisor on the Green Bond Framework;
Launching five perpetual finance instruments for commercial and global banking clients in 2021, it became the first bank in Canada to apply perpetual finance market principles to both trading and deposit products.
launched sovereign green bond programs including the UK, Poland, the Netherlands, Indonesia, Chile, Korea and Hong Kong;
mandated to act as a structural consultant to many corporations in the Americas, Europe and Asia to develop their sustainable goals;
Sustainable finance and investment, provided and facilitated since 1 January 2020, has reached $127bn towards our ambition of $750bn to $1tn by 2030;
Recognized by Euromoney as the World’s Best Bank for Sustainable Finance in 2019 and 2020.
HSBC serves more than 40 million customers globally in more than 64 markets and surveys show that the vast majority want to become more sustainable.
We are accelerating our ability to contribute to a net zero future by providing our clients with world-class finance solutions and expert advice. HSBC has committed to working with customers across sectors to develop tailored solutions to reduce emissions, taking into account the unique challenges for individual businesses, regions and geographies. Here in Canada, HSBC is a trusted partner for our customers in advancing their sustainability ambitions – helping them thrive through transition, sustainable growth and creating millions of jobs in vibrant, future-proof industries .
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About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc (‘HSBC Group’), is the nation’s leading international bank. We help companies and individuals across Canada do business and manage their finances here and internationally through four businesses: Commercial Banking, Global Banking, Markets and Securities Services, and Wealth and Personal Banking. HSBC Group is committed to becoming net-zero in its operations and financed emissions and is working with our customers to accelerate the transition to a low-carbon economy.
HSBC Holdings plc, the parent company of HSBC Bank Canada, is headquartered in London. HSBC serves customers worldwide from its geographic regions: Europe, Asia, North America, Latin America, and offices in 64 countries and territories in the Middle East and North Africa. With assets of US$ 2,958 billion as of 31 December 2021, HSBC is one of the largest banking and financial services organizations in the world.
For more information visit www.hsbc.ca or follow us on Twitter: @HSBC_CA or Facebook: @HSBCCanada
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