Lianhe Equator Environment Impact Assessment Co has quickly risen to become the top green bond verification agency in the onshore market.
The numbers are impressive. In 2020, the company provided green verification services for 47 issues worth Rmb41.8 billion ($6.5 billion). The volume and size accounted for 48% and 38% of the entire onshore green bond market, respectively. The firm almost doubled its market share last year despite a slowdown in business: ev
en though fewer green bond issuers turned to independent verification agencies in 2020, compared to the previous year, Lianhe Equator’s business still grew 68%.
Then there is its client roster. Lianhe Equator verified the first onshore blue bond issued by Qingdao Water Group as well as the first onshore climate financial bond from Ma’anshan Rural Commercial Bank. The latter was also the first onshore financial bond to receive a green certification from Climate Bonds Initiative. Lianhe Equator’s other firsts in 2020 include the verification of the first green asset-backed commercial paper and the first green project revenue note.
The company’s green bond verification business is headed by Liu Jingyun, whose team excels in reaching a diverse group of issuers – especially corporations, which are the largest issuers of green bonds in China.