ANZ today announced it has joined six global banks to secure the first sustainability loan for leading Chinese car manufacturer Geely Automobile Holdings Ltd (Geely Auto).
The three-year, US$400 million facility will allow for further investment into Geely Auto's research and production in new energy segment, to accelerate the development and implementation of new energy vehicle technologies.
This follows the launch of Geely Auto's "Sustainable Finance Framework" in May, outlining its 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 customers transition to net zero, and we see significant opportunities for other auto companies with similar commitments," Ms Saris Chow said.
