HSBC and KUKE jointly support the green transition in Poland
HSBC enters KUKE's new Green Guarantees program, which helps enable the financing of investments and business transformation towards climate neutrality.
Accelerating investments in energy efficiency and expansion of the renewables industry is a pure gain for the Polish economy and business as it improves its competitive position and strengthens country’s security. Being aware of the financing gap in the local market, we felt it necessary to include KUKE in supporting both companies and the financial sector in this process. Our guarantee program, pioneered among ECAs, will facilitate mobilization capital also from foreign markets. We are pleased that HSBC will join us to help Polish companies respond to the challenges of climate change and meet regulatory requirements.
The framework agreement with KUKE covering the Green Guarantees program is an important step in supporting the net zero transition in Poland and mobilising financing options for green projects. We are pleased to officially access KUKE’s program and to utilise our global nexus and expertise in export finance to help our clients in their sustainability journeys.
The Green Guarantees Program includes two solutions:
- guarantees of repayment for medium and long-term investment loans,
- payment guarantees, which can secure repayment of short-term working capital financing or repayment of obligations to suppliers in Poland and abroad, as well as to factoring companies.
The investments and projects to be covered with green guarantees include low-carbon power generation, hydrogen technology, production of equipment increasing energy efficiency, infrastructure supporting low-carbon transportation, modernization of water supply and treatment systems, transportation, and geological storage of CO₂. Importantly, the guarantees can cover, among other things, power plants using natural gas as a transition fuel.
