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[BUSINESS] · Hong Kong SAR China, China · 2 sources

Bank of East Asia buys green certificates for 30% of projected power use

green electricity certificates renewable energy decarbonisation solar energy ESG

Bank of East Asia (BEA) has completed its inaugural purchase under the Hong Kong Exchanges and Clearing’s Green Electricity Certificates pilot programme. The bank acquired certificates representing 10,500 megawatt-hours of electricity produced by a solar energy project located in Yunnan province.

The transaction was facilitated through the Guangzhou Power Exchange Centre with assistance from Core Climate, the environmental marketplace for HKEX. The volume of electricity purchased is intended to cover approximately 30% of the projected 2026 electricity consumption for the BEA Building and BEA Tower in Hong Kong.

As one of the first corporate participants in the pilot, BEA aims to gain practical experience in procuring renewable electricity certificates to support its operational decarbonisation strategy. The bank has set a target to achieve net-zero operational emissions by 2030.

Entities

Bank of East Asia · Hong Kong Exchanges and Clearing · Yunnan

Sources

BEA buys green certificates covering 30% of expected power use [hongkongbusiness.hk]
BEA buys green certificates covering 30% of expected power use [asianbankingandfinance.net]