Industrial Bank
Industrial Bank was the largest issuer of green bonds among Chinese banks in 2018, domestically and abroad. Its guidelines and standards set out for its own green bond issues have also won recognition from international agencies.
Last year, Industrial Bank floated Rmb60 billion ($8.7 billion) in green bonds in the domestic market, making it the leading issuing bank.
That also brought the cumulative amount of green bonds it has issued in China in the last three years to Rmb110 billion, an impressive achievement for a Chinese bank in the domestic bond market.
Industrial Bank’s green bonds have helped to cultivate a community of socially and environmentally responsible investors in China, and have provided financial support for various environment-friendly domestic projects.
Last year, Industrial Bank achieved a breakthrough in terms of green bond issuance when it gained access to the international bond markets. On November 13, the bank issued $600 million in green bonds in Hong Kong and €3 million worth of green bonds in Luxembourg. The proceeds will be used to finance six overseas projects in areas including renewable energy development, emission control in transportation, energy efficiency and sustainable water resources management.
Equally impressive is Industrial Bank’s Green Bond Framework, which was drafted in line with relevant Chinese policies and international standards on green-bond issuance and associated investments.
The framework was rated as Dark Green by the Center for International Climate Research (Cicero), a Norwegian institute for interdisciplinary climate research, for providing a clear and sound framework for climate-friendly investments. It also won certification from both the London-based Climate Bond Initiative and the Hong Kong Quality Assurance Agency.