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Edite Ligere Joins Leaders in Law as the Banking & Finance Law Member in the United Kingdom

Leaders in Law, the leading platform in its field, is delighted to welcome Edite Ligere as our exclusively recommended & endorsed Banking & Finance Law expert in the United Kingdom.

Edite’s practice focuses on the regulation of artificial intelligence, global financial regulation, banking, insurance, human rights, machine learning and cyber security.

Edite has participated in and advised on global regulatory standard setting and the national implementation of global regulatory standards. Edite is a regular contributor to various pro bono human rights and environmental initiatives, an author of various legal publications and a speaker at international and national conferences.

Edite Ligere holds an LLB (First) and an LLM from the University of London. She was called to the Bar of England and Wales by the Honourable Society of Lincoln’s Inn and is a Hubert Greenland Scholar of the Honourable Society of Lincoln’s Inn.

 

 

Robert J. Cosgrove joins Leaders in Law as the Insurance Law Member in Pennsylvania, USA

Leaders in Law, the leading platform in its field, is delighted to welcome Robert Cosgrove as our exclusively recommended & endorsed Insurance Law expert in Pennsylvania, USA.

A courtroom-tested trial lawyer and appellate advocate, Robert J. Cosgrove has handled cases in state and federal venues across the United States as well as in the International Court of Commerce. Bob litigates a very wide range of matters, including premises and liquor liability cases; trucking and motor vehicle claims; product liability and product recall suits; personal care home, senior living and home health aide cases; and cases involving construction defects, catastrophic personal injury and significant property damage claims.

He defends individuals and businesses in complex professional liability and errors and omissions cases, advises clients on fraud-based and other first- and third-party coverage issues, and investigates and litigates fine art, jewelers block policy and cargo cases. A Certified Information Privacy Professional, US, (CIPP/US) and a Certified Information Privacy Manager (CIPM) through the International Association of Privacy Professionals (IAPP), he advises on cases related to fraud, data privacy, and cybersecurity claims and investigations.

ESG Series – Green and Sustainable Finance Grant Scheme of Hong Kong

It has been one year since the launch of the Green and Sustainable Finance Grant Scheme (Scheme) in May 2021[1]. The Hong Kong Monetary Authority (HKMA) announced in its Quarterly Bulletin of March 2022[2] that more than 60 debt instruments had been approved under the Scheme. This article summarizes the core elements of the Scheme and provides tips for applications.

Grant and eligibility of the Scheme

The Scheme consists of two tracks[3]:

  Track I

General Bond Issuance Costs

Track II

External Review Costs

Finance instruments Eligible green and sustainable bonds Eligible green and sustainable bonds and loans
Applicants First-time bond issuers First-time and repeated bond issuers and loan borrowers
Eligible expenses covered by the grant under the Scheme Bond issuance expenses, including arrangement, legal, audit, rating, listing and clearing fees Only expenses of transaction-related external reviews

u  pre-issuance reviews, e.g. certification, second party opinion, verification, ESG scoring/rating, assurance, consultation to develop the bond/loan framework)

u  post-issuance external reviews or reporting

Grant amount 50% of the eligible expenses, up to (i) HK$2.5 million where the bond, issuer or guarantor possesses a credit rating by a recognised rating agency, or (ii) otherwise, HK$1.25 million 100% of the eligible expenses, up to HK$800,000
Key eligibility criteria u  pre-issuance external review provided by a recognised external reviewer

u  issued in Hong Kong (half or more of the lead arrangers are Hong Kong based)

u  issuance size of at least HK$1.5 billion

u  listed in Hong Kong or lodged with and cleared by the Central Moneymarkets Unit (CMU) operated by the HKMA

u  issued in Hong Kong to (i) 10 or more persons or (ii) less than 10 persons none of whom is an associate of the issuer

u  pre-issuance external review provided by a recognised external reviewer

u  issued in Hong Kong  (half or more of the lead arrangers/lenders are Hong Kong based)

u  issuance size of at least HK$100 million (raised from the initial HK$200 million threshold)

u  (for bonds only) listed in Hong Kong or lodged with and cleared by the CMU

u  (for bonds only) issued in Hong Kong to (i) 10 or more persons or (ii) less than 10 persons none of whom is an associate of the issuer

 

There are currently 14 external reviewers (including Ernst & Young) recognised by HKMA[4].

A few tips

Because a pre-issuance external review is mandatory in either track, it is advisable for any applicant to consult a recognized external reviewer. The core references adopted by reviewers may include (a) the Green Bond Principles and Social Bond Principles developed by the International Capital Market Association (ICMA Bond Principles), (b) the Green Loan Principles and Social Loan Principles jointly issued by the Loan Market Association, the Asia-Pacific Loan Market Association and the Loan Syndications and Trading Association (LMA Loan Principles), (c) the Catalogue of Projects Supported by Green Bonds (绿色债券支持项目目录) issued by the People’s Bank of China, (d) EU Technical Expert Group final report on Sustainable Finance Taxonomy, (e) ISO/FDIS 14030-3 Environmental Performance Evaluation—Green debt instruments—Part 3: Taxonomy and (f) Sustainable Development Goals adopted by the United Nations.

It is essential for the issuer/borrower to formulate the relevant bond/loan framework in line with the ICMA Bond Principles or LMA Loan Principles. The core elements of the framework should at least include (i) use of proceeds, (ii) process for project evaluation and selection, (iii) management of proceeds and (iv) reporting. Please refer to our earlier article for more details of such 4 elements[5].

HKMA does not require the eligible projects must be in Hong Kong or the proceeds must be used in Hong Kong.

Eligibility conditions are imposed on bond arrangers, loan lenders and external reviewers, but the Scheme does not require that the issuer/borrower must be a Hong Kong company.

Prior to or after the issuance of the bond/loan, it is desirable to consult the HKMA before submitting the formal application. The HKMA may indicate no-objection to the pre-application consultation if it is satisfied that, based on the preliminary information provided, the Scheme eligibility requirements are met.

A formal application may be made within 3 months after the bond/loan is issued. The HKMA processes applications in monthly batches.

[1]  https://www.hkma.gov.hk/eng/news-and-media/press-releases/2021/05/20210504-4/

[2]  https://www.hkma.gov.hk/media/eng/publication-and-research/quarterly-bulletin/qb202203/fa1.pdf

[3]  https://www.hkma.gov.hk/media/eng/doc/key-information/press-release/2021/20210504e4a1.pdf

[4]  https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/bond-market-development/tax-concessions-and-incentive-schemes/

[5]  https://www.eylaw.com.hk/en_hk/publications/our-latest-thinking/2022/may/principles

ESG Series – External Reviews on Sustainable Bonds and Loans

The principles on sustainable bonds (ICMA Bond Principles) formulated by the International Capital Market Association (ICMA) are widely applied in Hong Kong listed bonds, as discussed in our previous articles[[1]]. External reviews play an important part in green, social and sustainability-lined bonds/loans, and the author will summarize the common types of external reviews here.

Common types of external reviews

The Guidelines for Green, Social, Sustainability and Sustainability-Linked Bonds External Reviews[[2]] of the ICMA group external reviews in four main types, namely, second party opinion, verification, certification and rating/scoring.

The “Green Loan Principles”[[3]], the “Social Loan Principles”[[4]] and the “Sustainability-Linked Loan Principles”[[5]] issued by the Loan Market Association, the Asia-Pacific Loan Market Association and the Loan Syndications and Trading Association (LMA Loan Principles) also highlight the functions of external reviews.

(1) Second party opinion

Alignment of the bond/loan framework with international principles

A second party opinion usually comments on whether the green, social, sustainability and sustainability-linked bond/loan framework is in line with the international principles (such as the ICMA Bond Principles and the LMA Loan Principles). It is given by an independent institution with environmental/ social/ sustainability expertise.

For green and social bonds/loans, the following aspects are often considered in giving the second party opinion:

Use of proceeds:

  • Eligible projects or project categories covered in the bond/loan framework of the issuer/borrower
  • Sustainability objectives of each project category
  • Nature of uses, e.g. capital expenditure, research & development
  • Excluded projects and activities

Process for project selection and evaluation:

  • Section process and eligibility criteria used, e.g. international or market-practice standards and taxonomies, science-based targets, self-developed sustainability benefit indicators
  • Target period of fully applying the net proceeds
  • Committees or departments participating in the selection and their respective roles
  • Regulatory approvals required before carrying on the projects
  • How the associated environmental and social risks are monitored and mitigated
  • Regular reviews on the continuity in project eligibility

Management of proceeds

  • Whether the proceeds are placed in a designated account or sub-account, or in a general account with a register to track the uses
  • How the proceeds are used before being allocated to eligible projects, and the commitment of not using the unallocated proceeds on activities that conflict with the eligibility criteria
  • How to re-allocate the proceeds to an alternative eligible project if a designated project ceases to be eligible

Reporting

  • Frequency of reporting
  • Contents of reporting, e.g. allocation of proceeds to eligible projects, qualitative and quantitative expressions of sustainability impacts for each project, balance of unallocated proceeds, proportion of financing versus refinancing
  • Whether post-issuance third-party verification or certification reports will be issued

Sustainable Development Goals

Seventeen Sustainable Development Goals (SDGs) were adopted by the United Nations in 2015[[6]] as a universal call to end poverty, protect the planet, and achieve peace by 2030. Mindful of the SDGs, all countries should recognize that development must balance social, economic and environmental sustainability.

Second party opinions often include mapping of the proceeds uses to SDGs. ICMA provides a broad frame of reference on SDG mapping, and sets out a table illustrating the relevance of 15 SDGs to the uses of proceeds[[7]]. Nevertheless, each project should be reviewed individually as to whether it aligns with any particular SDG.

SDG Green Bond Principles of
ICMA project categories
Social Bond Principles of
ICMA project categories
1.      No Poverty u  Climate Change Adaptation u  Access to Essential Services

u  Affordable Housing

u  Socioeconomic Advancement and Empowerment

2.      No Hunger u  Climate Change Adaptation

u  Environmentally Sustainable Management of Living Natural Resources and Land Use

u  Access to Essential Services

u  Affordable Basic Infrastructure

u  Food Security

u  Socioeconomic Advancement and Empowerment

3.      Good Health and Well-being u  Pollution Prevention and Control

u  Renewable Energy

u  Access to Essential Services

u  Affordable Basic Infrastructure

4.      Good Education u  Access to Essential Services

u  Socioeconomic Advancement and Empowerment

5.      Gender Equality u  Socioeconomic Advancement and Empowerment
6.      Clean Water and Sanitation u  Sustainable Water and Waste Water Management

u  Terrestrial and Aquatic Biodiversity Conservation

u  Affordable Basic Infrastructure
7.      Affordable and Clean Energy u  Energy Efficiency

u  Renewable Energy

u  Affordable Basic infrastructure
8.      Decent Work and Economic Growth u  Eco-efficient and/or Circular Economy Adapted Products, Production Technologies and Processes

u  Energy Efficiency

u  Renewable Energy

u  Access to Essential Services

u  Employment Generation

u  Socioeconomic Advancement and Empowerment

9.      Industry, Innovation and Infrastructure u  Energy Efficiency

u  Renewable Energy

u  Access to Essential Services

u  Affordable Basic infrastructure

u  Employment Generation

10.   Reduced Inequalities u  Access to Essential Services

u  Socioeconomic Advancement and Empowerment

11.   Sustainable Cities and Communities u  Clean Transportation

u  Eco-efficient and/or Circular Economy Adapted Products, Production Technologies and Processes

u  Environmentally Sustainable Management of Living Natural Resources and Land

u  Green Buildings

u  Pollution Prevention and Control

u  Renewable Energy

u  Sustainable Water and Waste Water Management

u  Affordable Basic infrastructure

u  Affordable Housing

u  Socioeconomic Advancement and Empowerment

12.   Responsible Consumption and Production u  Eco-efficient and/or Circular Economy Adapted Products, Production Technologies and Processes

u  Environmentally Sustainable Management of Living Natural Resources and Land Use

u  Pollution Prevention and Control

u  Renewable Energy

u  Sustainable Water and Waste Water Management

u  Food Security
13.   Climate Action u  Climate Change Adaptation

u  Climate Change Mitigation

14.   Life Below Water u  Environmentally Sustainable Management of Living Natural Resources and Land Use

u  Terrestrial and Aquatic Biodiversity Conservation

u  Socioeconomic Advancement and Empowerment
15.   Life on Land u  Environmentally Sustainable Management of Living Natural Resources and Land Use

u  Terrestrial and Aquatic Biodiversity Conservation

u  Socioeconomic Advancement and Empowerment

Contribution of the sustainable finance to the sustainability strategy of the issuer/borrower

A second party opinion may start with the issuer’s/borrower’s sustainability strategy. It then discusses how the sustainable bond/loan and its framework can actualize the strategy and lead to positive environmental and social outcomes. The reviewer may also comment on that quantitative results which may be achieved through the sustainable finance, e.g. extent of electricity consumption reduction, contribution to carbon offset, creation of affordable houses, increase in recycle content, reduction in waste. References can be made to international benchmarks such as the Science-Based Targets Initiative[[8]].

Notwithstanding the benefits, eligible projects could create environmental and social risks, e.g. employee injuries, negative environmental impacts and production of harmful materials at the construction and operation stages, unbalanced allocation of affordable resources amongst vulnerable groups, safety issues of new products. The opinion may report on how the issuer/borrower manages the risks via its policies, trainings, compliance with regulations, as well as how the issuer/borrower works with employees, suppliers, customers, regulators, local communities and other stakeholders to assess and mitigate the risks.

(2) Verification

It refers to an independent verification on the bond/loan framework or the underlying projects against a designated set of internal sustainability criteria.

In the case of a sustainability-linked bond/loan, it is a must to obtain independent and external verification on measuring performance against the key performance indicators or on the progress of achieving the sustainability performance targets. According to the ICMA Sustainability-Linked Bond Principles[[9]] and the LMA Sustainability-Linked Loan Principles, the verification must be conducted at least once a year, and at the time for assessing whether an adjustment to the bond/loan characteristics is triggered, until after the last trigger event has been reached.

A bond issuer usually reports, at least once a year, on the proceeds amounts applied to eligible projects. Some issuers of Hong Kong listed bonds engage professional firms (including EY) to examine and provide limited assurance in certain assertions set out in the issuer’s post-issuance reports, in order to give comfort to investors. The professional firm reviews the issuer’s procedures on the project selection and proceeds management, implementation of the procedures, calculations performed and disclosure policies. The conclusion is normally taken in the form of a negative statement as to whether anything has come to the professional firm’s attention that causes it to believe the assertions do not meet the requirements of the relevant international principles or the issuer’s bond framework.

(3) Certification

The issuer/borrower can engage a qualified and independent third party to certify its sustainable bond/loan, the relevant framework, use of proceeds, key performance indicators and sustainability performance targets against recognised external sustainability standards which define specific criteria.

(4) Rating/scoring

A third-party rating agency or specialized research provider may evaluate or assess the sustainable bond/loan framework, use of proceeds, selection of key performance indicators, calibration of the level of ambitiousness of sustainability performance targets SPTs, according to an established scoring/rating methodology.

Although rating and scoring are not very common, certain bonds listed in Hong Kong have been scored via evaluation approaches encompassing sustainability benefits, governance (proceeds management and impact assessment structure) and transparency in reporting.

Key takeaway

Bond issuers and loan borrowers are engaged to make good use of external reviews, because they promote best practice for the issuer’s/borrower’s internal control, allow stakeholders to understand how the bond/loan framework is aligned with international principles, and give comfort to investors on how their monies are channeled to sustainable uses.

[1]  https://www.eylaw.com.hk/en_hk/publications/our-latest-thinking/2022/may/application

[2]  https://www.icmagroup.org/sustainable-finance/external-reviews

[3]  https://www.lsta.org/content/green-loan-principles/

[4]  https://www.lsta.org/content/social-loan-principles-slp/

[5]  https://www.lsta.org/content/sustainability-linked-loan-principles-sllp/

[6]  https://www.undp.org/sustainable-development-goals

[7]  https://www.icmagroup.org/assets/documents/Regulatory/Green-Bonds/June-2020/Mapping-SDGs-to-Green-Social-and-Sustainability-Bonds-2020-June-2020-090620.pdf

[8]  https://www.wri.org/initiatives/science-based-targets

[9]  https://www.icmagroup.org/sustainable-finance/the-principles-guidelines-and-handbooks/sustainability-linked-bond-principles-slbp/

Liliane Mubanga Joins Leaders in Law as the Commercial Law Member in the Dem. Rep. of the Congo

Leaders in Law, the leading platform in its field, is delighted to welcome Liliane Mubanga as our exclusively recommended & endorsed Commercial Law expert in the Dem. Rep. of the Congo.

Liliane practices in Commercial Law, Banking, General Trade, Construction, Mining and Hotel Industry.

Liliane is mining and quarrying agent; she has a Masters in International Commercial Law from Robert Kennedy College/University of Salford Manchester. Liliane Mubanga has also had a training in: OHADA; Hydrocarbons; Public Procurement; and insurance, among others.

 

Alexandra Burger joins Leaders in Law as the Private Equity Law Member in South Africa

Leaders in Law, the leading platform in its field, is delighted to welcome Alexandra Burger as our exclusively recommended & endorsed Private Equity Law expert in South Africa.

Alexandra Burger is an Admitted Attorney and Notary in South Africa, Legal Counsel and Senior Advisor to several local and international private equity and venture capital funds and companies. A business and investment executive, entrepreneur and board and governance leader with 20 years’ local and international experience providing bespoke legal and investment solutions to multiple organizations.

Experience and Clientele

Alexandra has a proven track record in investment banking, investment product development, transactional legal work, cross border structuring, stakeholder management including capital raising, investor relations and alternative financing solutions. She has advised and listed companies and funds on several international stock exchanges. In particular, she has 20 years’ experience in international fund and company structuring and management. Alexandra also has experience in management of M & A exits, governance, forensics , distressed assets and cross border licensing and trade. .

Her employers and clients include banks, development finance institutions, asset managers, private equity funds, venture capital funds and retirement funds. Alexandra has a passion for companies in technology from IT, IOT, FinTech, MediaTech, MedTech, Agritech to Mining Tech and, for almost 17 years she has been advising SMEs and Midmarket companies in legal matters, commercialisation capital raising and expansion into international markets.

 

LC Lawyers receives “Firms to Watch” and Recommended Lawyer by The Legal 500 Asia Pacific 2022

We are pleased to announce that LC Lawyers LLP has been recognised as “Firm to Watch” in Corporate (including M&A) and our Managing Partner Rossana Chu also named as a “Recommended Lawyer” in Corporate (including M&A):

FIRM TO WATCH – Corporate (including M&A): Hong Kong

LC LAWYERS LLP

RECOMMENDED LAWYER – Corporate (including M&A): Hong Kong

ROSSANA CHU

Our Managing Partner Ms. Rossana Chu is described by the researcher of Legal 500 Asia Pacific as “a lawyer who has garnered much acclaim for her capital markets expertise, serves as practice head.

The Legal 500 Rankings has announced its new Asia Pacific rankings for law firms, leading individuals by jurisdiction and practice area for The Legal 500 Asia Pacific 2022 edition on 12 January 2022 – the guide provides unbiased commentary and insight into the legal marketplaces of 25 Asia Pacific jurisdictions. The only way a law firm can get into its ranking tables and commentary is on merit.

For more information about full new law firm rankings by practice areas, please visit the website: https://www.legal500.com/c/hong-kong/corporate-including-ma/

Brian Chase joins Leaders in Law as the Personal Injury Law Member in California, USA

Leaders in Law, the leading platform in its field, is delighted to welcome Brian Chase as our exclusively recommended & endorsed Personal Injury Law expert in California, USA

Managing Partner, Senior Trial Lawyer

Nationally known and top rated auto defect and California personal injury lawyer Brian D. Chase serves injured plaintiffs with trust, passion, and results.

What Being An Injury Advocate Means to Brian Chase

Assisting injured people to obtain justice from big corporations when they manufacture dangerous products that cause injuries due to placing profit over safety.

Helping accident victims collect what they are due from insurance companies that believe they are solely in business to collect premiums, as opposed to the business of paying valid claims. The satisfaction of helping someone recover their life after an accident or injury, especially one from the wrongdoing of others. This is what matters most to Brian Chase.

 

ESG Series – International Capital Market Association: Principles on Sustainable Finance Instruments – Applications in Hong Kong Listed Bonds

In our previous article[[1]], we introduce the principles on sustainable finance products formulated by the International Capital Market Association (ICMA). We will discuss here how the principles are applied in Hong Kong listed bonds.

Green and sustainability bonds listed in Hong Kong

As of 10 May 2022, the Hong Kong Stock Exchange included 94 bonds in its “Sustainable Finance Products” bond repository[[2]], out of which 79 issuances are categorized as green bonds. The other categories are 2 social, 1 sustainability, 3 sustainability-linked, 2 blue, 6 transition and 1 COVID-19 bonds.

Each of green, social, sustainability and sustainability-linked bond, note or not programme, is subject to a bond framework or management statement developed by the issuer for the bond. The framework should be in accordance with the relevant set of ICMA principles. Now let us look at the typical uses of proceeds of these bonds.

Green bonds

Out of the 79 green bonds or programmes listed in Hong Kong, 31 were issued by financial institutions, mostly banks. The uses of proceeds generated from green bonds issued by banks are for financing and/or refinancing the “eligible” green assets or projects, e.g. energy conservation and efficiency, renewable energy, green buildings, clean transportation, pollution control, and environmentally sustainable management of living natural resources and land use. The eligibility varies in different bonds but is accordance with the green project categories set out in the Green Bond Principles of ICMA. Some China-based banks refer to the Catalogue of Projects Supported by Green Bonds (绿色债券支持项目目录), issued by the People’s Bank of China, for determining eligibility. Also, certain purposes are often excluded, e.g. fossil fuel, carbon intensive or nuclear fuel related projects, or activities connected with any luxury sector, spirits, tobacco and gambling.

Amongst the 39 green bonds issued by corporations, common issuers are property developers and public utilities companies. They are in sectors identified as consuming high amounts of energy and thus are more motivated to enhance their green efforts. Typical uses of bond proceeds for property developer issuers are green buildings, energy efficiency improvement, pollution control and water management.

Nine green bonds are issued by the Hong Kong Government under the Government Green Bond Programme launched in 2019. Please refer to our earlier article titled “ESG series – Hong Kong Government Green Bond Programme“[[3]] if you would like to know more about that programme.

Social bonds

The two social bonds were issued by the Macau branch of the same China-based bank. In fact, each bond is a sustainability series bond combining the features of green, social and sustainability bonds. Thus, the management statement aligns with the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines of ICMA. The net proceeds will be allocated to fund eligible projects in the typical green categories and also social projects such as affordable basic infrastructure (e.g. clean drinking water, sanitation, transport), access to essential services (e.g. health, education) and affordable housing which meet the local policies.

Sustainability bond

The bond categorized as sustainability bond was issued by the Hong Kong branch of a China-based bank. In fact, the proceeds can be used for either financing eligible green projects or eligible social projects. The latter may involve employment generation through small and micro-enterprises financing, affordable basic infrastructure as well as access to essential services.

Sustainability-linked bonds

One sustainability-linked bond is issued by a Hong Kong based property developer. The net proceeds from the bond will be used as general corporate purposes for the issuer group. The issuer sets the percentage of renewable energy in its rental properties in the Greater Bay Area of China as the key performance indicator (KPI). Such percentage was less than 1% in the baseline of the financial year 2019/2020, while the issuer’s sustainability performance target (“SPT”) is to reach 100% by the financial year 2025/2026. If such target cannot achieved by then, the issuer group will make a purchase of carbon off-sets equivalent to a 0.25% increase in the coupon of the sustainability-linked bond for the remaining life of the bond until it is fully redeemed. This does not lead to a financial benefit to the investors but creates an environmental benefit because it increases the funding cost to the issuer.

The other two sustainability bonds were issued by the Hong Kong branch of the same China-based bank. Each is a combined green, social, sustainability and sustainability-linked bond. The bond framework underlying each bond is in line with the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines of ICMA. For any sustainability-linked bond to be issued under the framework, the bank will define the KPIs according to its prevailing sustainable development strategy. It will calibrate the selected SPTs in terms of their consistency with its sustainable development strategy, its plans to meet the SPTs, the relevant controls and other critical factors. Each sustainability-linked bond will carry the variation of its financial and/or structural characteristics if any SPT is not met.

Key takeaway

While bonds listed in Hong Kong following the ICMA principles, it is important to follow how the issuers apply the proceeds and disclose the impacts of such bonds to achieve the sustainability objectives. As ICMA stresses, the transparency, accuracy and integrity of the information to be reported by issuers to stakeholders play a core role in the success of the finance products.

[1]  https://www.eylaw.com.hk/en_hk/publications/our-latest-thinking/2022/may/principles

[2]  https://www.hkex.com.hk/Join-Our-Market/Sustainable-Finance/HKEX-STAGE/Product-Repository?sc_lang=en

[3]  https://www.eylaw.com.hk/en_hk/publications/our-latest-thinking/2022/march/greenbond

 

LC Lawyers LLP

Rossana Chu, Jacky Chan

LC Lawyers Receives the 2021 Gold Law Firm Award and Four Individual Awards

The Hong Kong Law Society announced the results of Pro Bono and Community Work Recognition Programme 2021 (“the 2021 Programme”) on 29 November 2021.  We are delighted to announce that LC Lawyers LLP has won five accolades at the 2021 Programme including Pro Bono Law Firm Award and four Individual Awards.

GOLD LAW FIRM AWARD

  • LC LAWYERS LLP (for 3 consecutive years)

GOLD INDIVIDUAL AWARDS

  • TEH Kareena Poh Gaik (for 3 years)
  • MOK Ho Yin (for 3 consecutive years)

BRONZE INDIVIDUAL AWARDS

  • FAN Dandan (for the first year) New~
  • KWOK Zee Fung Philip (for the first year) New~

We would like to thank Kareena’s team and Diane for their devotion to pro bono work.

About the Programme:
The 12th anniversary of the Law Society’s 2021 Programme awarded solicitors, trainee solicitors and law firms for their dedication to providing outstanding commitment to pro bono and community service.  The Programme receives full support by members of the Law Society.

For the full lists of awardees and awarded law firms under the 2021 Programme, please visit the Law Society website: https://www.hklawsoc.org.hk/-/media/HKLS/Home/Serve-the-Public/MembersRecognition/2021/2021-Pro-Bono-and-Community-Work-Recognition-Programme_J20211229.pdf