DBS Hong Kong, Sun Hung Kai subsidiary unveil green payments

The supplier payment services are for Hong Kong’s construction industry.

DBS Hong Kong and construction firm Sanfield have launched sustainability-linked supplier payment services (SPS) for the city’s construction industry.

Sanfield is a wholly owned subsidiary of Sun Hung Kai Properties (SHKP).

Under the program, 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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The SPS program, reportedly the first of its kind in Hong Kong’s construction industry, is expected to help Sanfield develop a sustainable construction ecosystem with its suppliers and sub-contractors and fulfill its ESG commitments and vision. 

Sanfield’s suppliers and sub-contractors may benefit by getting early payment for their goods or projects, thereby improving their cash conversion cycle whilst enhancing their ESG performance, DBS Hong Kong said in a press release.