Hysan Development has entered into a sustainability-linked foreign-exchange derivative hedge as part of its green finance ambitions, which would require for the Hong Kong property developer and manager to contribute to an impact-driven charity if it is unable to meet certain conditions.
Under the terms of the $125 million forex swap contract involving the US and Hong Kong dollars, Hysan has committed to one, cut its energy consumption by a fifth by the end of 2024, and two, remain as a constituent of the Hang Seng Corporate Sustainability Benchmark Index for the period 2021-2024.
That index ranks the top 20% of Hong Kong companies according to their...
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