HK’s BEA shares decarbonisation and sustainable development efforts in 2022

The bank was able to cut operational emissions by 29.7%.

The Bank of East Asia has reaffirmed its commitment to reach net zero emissions in its operations by 2030 and its financed activities by 2050, the bank said in its latest performance report on environmental, social, and governance (ESG) for 2022.

In the report, BEA highlighted its efforts in pursuing sustainable green financing, including establishing a green and sustainable finance (GSF) framework in 2022.

These achievements were categorised under three pillars in their GSF: responsible business, responsible operations, and responsible citizen, BEA said.

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The bank's GSF loans and ESG bonds grew more than double to HK$55.9b (US$7.12b) in 2022.

BEA was also the first bank in Hong Kong to ink a partnership with Carbon Accounting Financials.

For operations, BEA was able to reduce operational emissions by 29.7% and halved paper consumption in all Hong Kong offices.

“While 2022 proved challenging for BEA and many of our stakeholders, the past year provided opportunities for us to work together to create positive changes for our environment,” Adrian Li and Brian Li, Co-Chief Executives of BEA said.

(HK$1 = US$0.13)