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The World’s First Financial Project for the Transformation of the Container Industry Chain Secured by COSCO SHIPPING Development Co., Ltd

Time: 2024-05-22

On 17 May 2024, COSCO SHIPPING Development Co., Ltd (“COSCO SHIPPING Development”) and Standard Chartered Bank (China) Limited entered into a cooperation framework agreement on the transformation of the container industry chain and the sustainable finance with a signed line of credit of RMB3 billion. The execution of the cooperation agreement facilitates both parties for enhanced information exchange at the national, regional and global levels, deepens cooperation in terms of transformation financing, liquidity and risk management, green and sustainable development, and promotes high-quality ESG development.

As the world’s first financing project for the transformation of the container industry chain, it empowers accelerated green and low-carbon transition in different areas of the industry chain through incorporating the financing scheme of “transformation finance”, in pursuit of a path towards green and low-carbon transformation of the container industry chain during daily operations of container manufacturing, container leasing and other segments.

In recent years, guided by the concept of sustainable development governance and firmly reaffirming the direction of green, low-carbon, intelligent and technological development, COSCO SHIPPING Development has made value breakthroughs by actively diversifying green financing channels, fully capitalizing on the value of eco-friendly development and empowering green transformation and upgrading of key businesses. COSCO SHIPPING Development will continue to focus on its main responsibilities and principal businesses, strengthen the empowerment of technology, innovation and digitalization, promote the concept of green and low-carbon development on all points, and cooperate with domestic and foreign partners to move toward a bright future of green, high-quality and sustainable responsibility.

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