HSBC supports waste management in Africa with US$30m loan

AFRICA – British investment bank HSBC has approved US$30 million in green financing for Averda, a Lebanese company specializing in waste management and recycling, to support the adoption of circular practices in waste management in Africa. Averda received the funds following the refinancing of its US$148 million term loan.  “The refinancing, which replaces the previous term loan that was due to expire in 2023, was secured for a five-year term with a coupon of 4.5% from the six-bank syndicate of First Abu Dhabi Bank (FAB), Bank ABC, Gulf International Bank…

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HSBC Holdings Plc switches to recycled plastic payment cards

WORLD – HSBC, a British multinational investment bank and financial services holding company has announced a new programme to introduce sustainable payment cards across all its global locations. The investment bank said that by the end of 2026, it will eliminate single-use PVC plastic, in favour of recycled PVC plastic (rPVC). The programme, which includes HSBC’s debit, credit and commercial cards, is part of the bank’s strategy to reduce its carbon emissions and achieve net zero in its operations and supply chain by 2030 or sooner. Working with global cards manufacturer…

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IFC, HSBC announce final close of REGIO fund to further develop green bond market

AFRICA – IFC, a member of the World Bank Group, and HSBC Asset Management have announced the final closing of the HSBC Real Economy Green Investment Opportunity GEM Bond Fund (REGIO), boosting access to climate finance and helping further develop the market for green bonds. REGIO, the first green bond fund focused on well-diversified climate-smart investments in “real economy” issuers in emerging market countries, closed with total investor commitments of US$538 million following further investment from two European investors. The aim of the fund is to help these economies in…

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