Bank of East Asia reduce emissions by 15%, increase green loans five-fold in 2021

The bank also donated millions to support flood relief efforts.

The Bank of East Asia (BEA) has released its Enviornmental, Social, and Governance (ESG) report for 2021.

Key achievements include a five-fold increase in approved green loans from approximately HK$4b in 2020 to HK$22b in 2021.

BEA also said that it reduced its emissions by 15.3% group-wide compared with its baseline year of 2019.

Paper consumption in Hong Kong was also 31% lower than in 2020.

The bank also donated a total of HK$12m over the year to support flood relief efforts in the Henan province of China and set up three more firefly centres, which aim to provide students of under-resourced rural schools with access to computers and other learning
educational tools.

In a statement, BEA co-chief executives Adrian Li and Brian Li said that they are pleased with the progress the bank made over the year.

“We have shown ourselves to be adept at maturing our ways of operating to ensure our bank is a future-fit. These achievements are a testament to the strengths of our internal transformation process and the skills of our people, which stand us in good stead,” the statement said.