Photo: Orient Cable (Illustration)

Orient Cable gets €29.5 million green loan

Chinese power cable specialist Orient Cable (NBO) has secured an RMB 200 million (around €29.5 million) compliant green loan facility from HSBC Bank.

The Chinese company stated that the grant affirms its efforts and commitments to the Science Based Targets initiative (SBTi) to achieve 2050 net zero ambition.

To remind, Orient Cable announced its commitment to the Science Based Targets initiative in May.

In terms of near-term targets, NBO committed to achieving scope 1 and 2 targets that are in line with a 1.5°C trajectory by 2030, in addition to its existing 2050 Net Zero ambition.

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