ANZ announced that it joined six other global banks in securing the first sustainability loan for leading Chinese automaker Geely Automobile Holdings Ltd.

The three-year, $400 million facility will allow for additional investment in Geely Auto's new energy research and manufacturing, accelerating the development and deployment of new energy vehicle technologies.

This comes on the heels of the May announcement of Geely Auto's "Sustainable Finance Framework," which outlined the company's future issuance of green, social, and sustainability bonds and loans.

ANZ Head of Sustainable Finance, International Stella Saris Chow, said: 

"We are pleased to support Geely Auto in linking their financing to their sustainability goals, including reducing carbon emissions by committing to transform their business towards electromobility and becoming a carbon-neutral company.

“Geely Auto’s strategy aligns with ANZ’s purpose to support customer transition to net zero, and we see significant opportunities for other auto companies with similar commitments."

Source: ANZ

For more sustainable finance news