GP Industries Limited, a subsidiary of Hong Kong-listed Gold Peak Technology Group, has successfully completed a HK$504 million sustainability-linked loan facility. The three-year syndicated loan, arranged by The Bank of East Asia and four other major banks, aims to bolster GP Industries’ commitment to Environmental, Social, and Governance (ESG) principles amidst a challenging global environment.
The loan facility reflects strong confidence from the banking sector in GP Industries’ dedication to sustainable development. Victor Lo, Chairman of Gold Peak and GP Industries, stated, “The establishment of this SLL Facility not only affirms our strategic direction but also enhances our ability to pursue innovative financing solutions and operational best practices that underpin sustainable business growth.”
GP Industries plans to use the loan to support long-term investments in advanced manufacturing technologies and enhance operational efficiencies. The company has set ambitious targets to reduce greenhouse gas emissions by 20% by 2030 and achieve net-zero operational emissions by 2050. Michael Lam, Vice-Chairman of GP Industries, highlighted the company’s progress in sustainability, noting their transition to paper-based packaging for over 1,000 battery products in Europe, reducing plastic waste by 48 tonnes annually.
The loan includes a tiered incentive mechanism, offering interest reductions upon meeting sustainability targets. This initiative underscores GP Industries’ commitment to integrating sustainability into its corporate strategy, aiming to generate enduring value for stakeholders and the environment.
