Date: 29/05/2024

COSCO SHIPPING Development secures world’s first full-container industry chain transformation finance project

COSCO SHIPPING Development and Standard Chartered Bank (China) Limited have entered into a framework agreement focused on transforming the container industry chain and fostering sustainable finance, which includes a committed credit line of 3 billion yuan. The signing of this cooperation agreement is set to enhance ongoing information exchange between the two organisations at national, regional and global scales. It will also deepen their joint efforts in transition financing, liquidity and risk management, alongside promoting green and sustainable development initiatives. This move aims to bolster high-quality advancements in the ESG field.
Recognised as the world’s first financial project dedicated to the transformation of the entire container industry chain, this initiative seeks to pinpoint the green and low-carbon transformation pathway within the container industry. By examining the daily operations of container manufacturing and leasing among other business segments, the project aims to integrate a “transformation finance” solution to support and expedite the green and low-carbon transformation process for each node within the industry chain, said a release.
Source: Exim News Service: Shanghai, May 28