{"data":{"news":{"items":[{"title":"Sanfield, DBS launch financing scheme to drive green construction practices in Hong Kong","date":"2024-05-24 00:01:56","id":5360,"author":"","blurb":"","blurb_image_uid":"https://dxfpracgmlczp.cloudfront.net/2024/05/1716361850837_HK - Sanfield3.jpg","blurb_expanded_image_uid":null,"article":"\n\t\n\n\n

Sanfield (Management) Ltd and DBS Bank (Hong Kong) Ltd have introduced ‘Sustainability-linked Supplier Payment Services’ (SPS) for the Hong Kong construction industry. This programme will extend the environmental, social and governance (ESG) initiatives from Sanfield to its suppliers and sub-contractors, setting a new industry standard. DBS Hong Kong will act as the sole arranger for this financing scheme.

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The new SPS programme – deemed the first of its kind in the Hong Kong construction industry – will help Sanfield develop a sustainable construction ecosystem with its suppliers and sub-contractors and fulfil its ESG commitments and vision. Under the programme, DBS Hong Kong will act as the only advisor to Sanfield in setting a series of sustainability-related performance targets, including ESG disclosure, safety performance, waste reduction, adoption of innovative technology and carbon-emissions reduction.

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By joining the SPS programme and meeting the predetermined targets, Sanfield’s suppliers and sub-contractors may benefit by getting early payment for their goods or projects, thereby improving their cash conversion cycle while enhancing their ESG performance.

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“The Sustainability-linked Supplier Payment Services programme will encourage our suppliers to accelerate their transition to more sustainable construction practices, creating a ‘triple-win’ situation, benefitting the environment, the industry and our construction partners,” said Desmond Tsoi, general manager of Sanfield. “We anticipate the new programme will drive a wider adoption of green building equipment in the industry and create a cleaner and healthier work environment for frontline workers.”

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Sanfield is a wholly-owned subsidiary of Sun Hung Kai Properties’s (SHKP) construction division and a prominent player in the Hong Kong construction industry. The company offers a wide range of services encompassing foundation work, site formation, civil engineering, building construction, electrical and mechanical installations, concrete production, precast-concrete-unit manufacturing, production and installation of wooden doors, construction plant and machinery leasing, as well as landscaping.

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Sanfield not only focuses on building premium properties but also takes a holistic approach to integrating and promoting sustainability in the construction industry. The company achieves this through five key areas, which include the adoption of green smart technologies; the development of green energy infrastructure; research and innovation in green building technologies; the supply of green building materials; and the training of green building professionals.

\n\n\n","article_image_uid":"https://dxfpracgmlczp.cloudfront.net/2024/05/1716361859830_491962-Photo_1.jpg","article_expanded_image_uid":null,"article_image_caption":"Desmond Tsoi, general manager of Sanfield (left) and Wallace Lam, managing director and head of Institutional Banking Group at DBS Bank Hong Kong, announce the launch of SPS programme for the Hong Kong construction industry.","publications":"7","tags":"Hong Kong,Sun Hung Kai Properties,Sanfield,sustainable construction","category":"Others"}],"pageInfo":{"hasNextPage":false,"hasPreviousPage":false,"totalCount":1,"totalPages":0,"currentIndex":0}}}}