Sustainability is today's foremost agenda. To propel Hong Kong towards a more sustainable future, collaboration across all sectors is essential. Link Asset Management Limited (Link), DBS Bank (Hong Kong) Limited (DBS Hong Kong) and CLP Power Hong Kong Limited (CLP Power) have collaborated for the first time to introduce the “Low Carbon Rewards Programme”. This strategic initiative harnesses the combined expertise in asset management, banking services, and energy management to support Link’s SME tenants in their transition to low-carbon operations.

The programme also introduces an innovative reward scheme designed to benefit both participating merchants and consumers. By fostering a business environment that rewards sustainable practices, this initiative aims to enhance revenue opportunities for merchants and provide customers with valuable incentives, promoting a collective movement towards a sustainable future for Hong Kong.

Drive low-carbon change, dual rewards for merchants and consumers

The “Low Carbon Rewards Programme”, spanning six months, is set to revolutionise sustainable business practices. The first phase, “SME Low Carbon Rewards”, invites Link's SME tenants to embark on the transition towards low-carbon operations. Merchants can achieve the status of "Low Carbon Merchants" by opening a business account with DBS Hong Kong and taking part in CLP Power’s energy management schemes or subsidy programmes, such as the free energy audit services or the “CLP Electrical Equipment Upgrade Scheme”. These merchants can enjoy rewards that are worth up to $18,888^#, comprising subsidies to purchase CLP Renewable Energy Certificates, along with other account opening and banking privileges from DBS Hong Kong, and digital payment service offers from the cloud-based Payment Acquirer Yedpay.

In the fourth quarter of 2024, Link and DBS Hong Kong will launch the second phase of the DBS Credit Card "InstaRedeem" promotion scheme. During the promotion period, customers using DBS Credit Cards to make purchases of $150 or more in a single transaction at any "Low Carbon Merchant" in Link’s shopping malls, including Temple Mall, Kai Tin Shopping Centre, Tsz Wan Shan Shopping Centre, TKO Gateway and T Town, will receive one electronic stamp. Collecting three electronic stamps will entitle customers to a discount of up to $60 on the fourth qualifying transaction, benefiting both participating merchants and consumers. DBS Credit Card primary cardholders are required to install the DBS Card+ mobile app before making eligible transactions to receive electronic stamps and discounts of up to $60. Apply for a DBS credit card with a DBS promoter on-site at designated locations and enjoy additional welcome rewards*.

Pressing need for low-carbon transition in SME sector

According to the DBS BusinessClass SME Sustainability Report released by DBS Hong Kong in April 2024, nearly 70% of surveyed SMEs in Hong Kong expressed interest in implementing sustainability measures. However, operational costs and expertise were identified as primary concerns. The report also surveyed over a hundred Hong Kong consumers, revealing that more than 90% of respondents have a positive impression of businesses embracing sustainability. These findings underscore the significant demand among SMEs for transitioning to sustainable business models. In response, Link, DBS Hong Kong, and CLP Power have jointly launched the "Low Carbon Rewards Programme" to support and incentivise this crucial transformation.

George Hongchoy, Chief Executive Officer of Link, said:

"At Link, we have consistently championed sustainable development through proactive collaboration with merchants and stakeholders. Our 'Link Tenant Academy' offers seminars and value-added services to educate merchants on environmental, social and governance (ESG) principles, empowering them to reduce costs and mitigate environmental impact. Initiatives such as the ‘Food Waste Recycling Challenge’ instill sustainable habits among merchants. Our partnership with DBS Hong Kong and CLP Power marks progress by enabling Link’s SME merchants to pursue sustainability more effectively. This collaboration not only facilitates sustainable transition but also encourages customers to support 'Low Carbon Merchants' and a more sustainable lifestyle. We seek deeper cooperation with all parties to continually innovate more effective carbon reduction solutions for the future."

Sebastian Paredes, Head of North Asia and Chief Executive Officer of DBS Bank (Hong Kong) Limited, said:

"Sustainable development has always been at the core of DBS Hong Kong. To support Hong Kong’s transition towards a more sustainable future, DBS collaborates with large enterprises that share the same vision to effectively bring the entire society, from SMEs to the public, on a low-carbon journey. We are pleased to partner with Link and CLP Power on this initiative, connecting SME merchants and consumers to advance Hong Kong’s low-carbon transformation agenda. While this is only the first step, DBS Hong Kong will continue to take the lead in collaborating with more local large enterprises to support businesses and consumers with co-establishing sustainable business and lifestyle models, and co-creating a sustainable future."

Joseph Law, Managing Director of CLP Power Hong Kong Limited, said:

"As an energy partner of the business sector, CLP Power is committed to helping our customers reduce their energy consumption and carbon emissions. We understand that SMEs have limited operational resources and need more support in their low-carbon transformation. Leveraging our power expertise, CLP Power provides technical support and advice on appropriate suitable energy saving solutions for SMEs. We are pleased to strengthen our partnership with Link and DBS Hong Kong by launching a rewards programme linked to energy management services, encouraging Link’s SME tenants to adopt CLP Power’s energy management solutions to further enhance their energy efficiency and practice low-carbon business operations. This will also help support the development of local renewable energy, and facilitate Hong Kong’s journey towards achieving carbon neutrality by 2050"

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^#Terms and conditions apply.

*For details, please refer to the DBS website. All promotions mentioned above are subject to terms and conditions. Reminder: To borrow or not to borrow? Borrow only if you can repay!

The content of the programme is subject to change without prior notice.

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About Link Asset Management Limited

Link Asset Management Limited (Link) is a leading global real estate investor and asset manager based in Hong Kong. It manages Link Real Estate Investment Trust (Hong Kong stock code: 823), the largest REIT in Asia by market capitalisation. Link REIT has been 100% held by public and institutional investors since its listing in 2005 in Hong Kong. It is a constituent of the Hong Kong securities market benchmark Hang Seng Index, as well as a component of the Dow Jones Sustainability Asia Pacific Index, the FTSE4Good Index Series and the Hang Seng Corporate Sustainability Index. Through Link REIT, Link owns and manages a diversified portfolio of retail facilities, car parks, offices and logistics assets spanning from China’s Beijing, Greater Bay Area (Hong Kong, Guangzhou and Shenzhen), and Yangtze River Delta centred around Shanghai, to Singapore, Australia’s Sydney and Melbourne and the UK’s London. With its expanded investment capability and dynamic growth strategy, Link aspires to be a world-class real estate investor and manager, serving and improving the lives of people around us.

For details, please visit https://www.linkreit.com.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

About CLP Power Hong Kong Limited

CLP Power Hong Kong Limited (CLP Power) is the Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to more than six million people in its supply area.