Hang Seng Bank (Hang Seng) has arranged a HKD 20 million ($2.5 million) equipment loan for Wing Lee Development Construction Holdings (Wing Lee), marking Hong Kong's first green loan dedicated to noise mitigation.

This loan will enable Wing Lee to acquire electric construction equipment that meets the Environmental Protection Department's (EPD) ‘Quality Powered Mechanical Equipment’ (QPME) or green equipment standards. These standards emphasise exceptional quietness, efficiency, innovation and environmental friendliness. The new equipment, including electric excavators, semi-trailer tractors and wheel loaders, will replace traditional construction machinery to minimise noise at construction sites and reduce pollutant emissions.

To further support green financing, the Hong Kong Quality Assurance Agency (HKQAA) has expanded the scope of Hang Seng’s exclusive online SME Green Equipment Financing Assessment platform for commercial customers. The updated platform now includes QPME standards for noise mitigation, ensuring loans meet the requirements of the ‘Green Loan Principles’. This loan to Wing Lee has been assessed and approved under these updated criteria.

Regina Lee, head of commercial banking of Hang Seng Bank, said, “As Hong Kong's largest local bank, Hang Seng is focused on creating practical solutions that help businesses adopt greener practices while addressing community needs. This first-of-its-kind green loan for Wing Lee enables the use of advanced, quieter, and cleaner equipment, reducing noise pollution and emissions at construction sites. By directly enhancing the living environment for residents, this initiative demonstrates how green finance can deliver meaningful benefits to both businesses and the wider community.

Yiu Wang Lee, executive director, chairman of the board and CEO of Wing Lee Development Construction, stated, “As Hong Kong's first noise mitigation loan, this initiative not only actively responds to the EPD’s QPME programme, but also strongly supports the Zero Carbon Smart Alliance's goal - Developing New Quality Productive Forces, Building a Sustainable Ecosystem. We look forward to joining hands with Hang Seng Bank, the HKQAA, and all sectors of society to continuously innovate green building models, advance smart city development, jointly promote sustainable transformation for enterprises and society, and contribute to realizing Hong Kong's vision of 'Zero-carbon Emissions‧Liveable City‧Sustainable Development'.”

P C Chan, CEO of Hong Kong Quality Assurance Agency, said, “We look forward to seeing that more enterprises will receive support through the SME Green Equipment Financing Assessment Platform in the future, thereby minimising their environmental impact. HKQAA will also continue to make dedicated efforts to assist and encourage more SMEs to pursue green financing, contributing to a better and more sustainable future for Hong Kong.”

Last year, Hang Seng launched the HKD 80 billion ($10 billion) Sustainability Power Up Fund, providing businesses across sectors with diversified green and sustainable financing solutions. Through initiatives like the Hang Seng Carbon Academy, the Bank is dedicated to enhancing enterprises’ awareness of sustainable development. In the first half of this year, the bank hosted a series of industry experience-sharing sessions and capacitybuilding workshops on green transition, which garnered strong industry support and participation from over 100 enterprises. Hang Seng will continue to work closely with businesses to deliver practical solutions and foster meaningful progress toward a sustainable future.

Redisseminated by The Asian Banker