The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Grameenphone have recently collaborated to structure the first ever Sustainability-Linked Loan (SLL) in the Telecom Industry of Bangladesh, with HSBC being the sole arranger. The signing ceremony was held recently in presence of Yasir Azman, Chief Executive Officer, Grameenphone, Md Mahbub ur Rahman, Chief Executive Officer, HSBC Bangladesh and officials from both the organisations, a press release said.
Grameenphone is the largest mobile telecommunication services provider in Bangladesh. Grameenphone is committed to do business in a responsible way that helps to create value for its people, shareholders and society as well as empower and sustain the world for generations to come. They are dedicated to navigating the challenges of climate change while driving sustainable practices within Bangladesh’s industrial landscape. Their commitment is rooted in ambitious targets aligned with the Paris Agreement Goal and Sustainable Development Goals .
This partnership will support Grameenphone’s climate action goals and environmental stewardship, reinforcing the company’s commitment to sustainable operations. The sustainable financing facility will support Grameenphone’s ambition to achieve a sizeable reduction in Scope 1 and Scope 2 emissions by 2030, benchmarked against the 2019 baseline, and maintain 100% recycling of e-waste including lead-acid batteries and network equipment. The SLL will also help in digital inclusion and enhance technological awareness among wider communities of the country.
Commenting on the financing facility, Yasir Azman, Chief Executive Officer of Grameenphone, said, “At Grameenphone, we are committed to building a greener, more inclusive and future-ready Bangladesh. As we work towards our ESG ambitions by reducing our carbon footprint by 50% by 2030, 100% e-waste recycling, driving digital inclusion and more, this partnership further accelerates our journey to keep sustainability at the core of our business. We remain dedicated to ensuring that every individual can participate in and benefit from a digitally empowered and sustainable society.”
Md Mahbub ur Rahman, Chief Executive Officer of HSBC Bangladesh added, “Supporting our customers is core to our strategy, and supporting their sustainability transition is both critical to them and aligned to our net zero ambition. Our collaboration with Grameenphone sets a strong market benchmark by tying finance to client’s carbon emission reductions commitment at a local level. This partnership inspires sector-wide action and positions Bangladesh’s telecom industry as a leader in sustainable, inclusive, and equitable growth.”
