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HSBC Indonesia joins with Euroasiatic on its Green Term Loan journey
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President director of Euroasiatic Heat and Power Systems Teddy Iwan Setiadi (left), founder of Euroasiatic Group and president director of Euroasiatic Jaya Wolfgang Joachim Hermann Maehl (second left), president director of HSBC Indonesia Francois de Maricourt (second right) and managing director and head of wholesale banking at HSBC Indonesia Riko Tasmaya pose for pictures during the Green Term Loan signing ceremony between HSBC Indonesia and Euroasiatic Group in Jakarta on March 31. (Amanda Karina Dwipayana)
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usinesses today are on a journey to harmonize financial incentives in alignment with the public sector through the environmental dimensions of Sustainable Development Goals (SDGs), in order to shape the ecosystem and production and consumption patterns of tomorrow.
Transition risks are a common worry when engaging in low-carbon projects but solutions are available from HSBC Indonesia.
Among the frontrunners in driving the sustainability agenda within the Indonesian archipelago, HSBC Indonesia is pleased to present Green Term Loans to enable a seamless transition toward Indonesia’s target of net-zero emissions by 2060 with world-class established manufacturers; Euroasiatic Heat and Power Systems (EA).
As a partnering project with a heat and power generation solutions provider, Green Term Loans is a fresh concept that aims to increase the level of financial flow and better manage environmental and social risks. This allows HSBC Indonesia's sustainable development priorities to deliver greater accountability for EA. Hence, HSBC Indonesia also provides EA with green loans for several green-related projects that envision a reduced dependency on fossil fuel energy sources.
“Decarbonizing is not a sprint, it’s a marathon," said Henry Maehl, director of Euroasiatic Jaya, using a favorite quotation of his during the press conference. “Euroasiatic is extremely excited to be part of Indonesian industry’s energy transformation from the use of fossil fuel energy systems toward renewable energy-based systems,” added Henry.
In an interview with The Jakarta Post on Friday, Riko Tasmaya, director of wholesale banking at HSBC Indonesia, further embraced Henry’s quotation when championing transition plans. He emphasized that building a long-sustained green framework requires global bonds, and maintaining global bonds requires a strong foundation in marketing education, the further implementation of which he encouraged within Indonesia.
“The journey to [...] achieve net-zero carbon neutrality requires both innovation and sustainable financing, and the biggest impact that we can make as a bank is to support our customers in decarbonizing,” said Francois de Maricourt, president director of HSBC Indonesia, who said he was thrilled to support lower carbon emissions for Euroasiatic clients in line with the commitment to become a net zero bank.
Riko also hopes that the intersecting of marketing education and global relationships will sustain strong partnerships in the long journey, which will have a widespread effect upon the entire ecosystem, as he said, “this needs everyone’s contribution.”
Riko pointed out that gaining eligibility to receive the certification of a green loan requires the strengthening of various industries in Indonesia and the bilateral project with EA is already in the process of being certified as a Green Building.
“Today marks a new milestone for HSBC Indonesia, as once again we are able to support Euroasiatic Group’s sustainability journey, in particular that of Euroasiatic Heat and Power Systems, in its additional green financing of US$10.3 million. This is the third Green Term Loan that we have provided to Eurosiatic Group since 2019,” added Riko.
It is indeed a long-term journey, but an enlivening one.
As we enter the 139th year of being Asia’s Best Bank in Indonesia, HSBC Indonesia always has open arms for customers seeking to be a part of the transition by building with them a green framework that not only performs, but transforms.
