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.
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.
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.
“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.”
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.
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.
