Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China (ICBC) is one of the largest banks in the world. It was the first commercial bank in China to join the UN Global Compact in 2012 and joined the UN Environment Programme Finance Initiative (UNEP FI) in 2014. It is a member of the standing council of Green Finance Committee established under the China Financial Forum and is an active advocate of developing green finance in order to boost sustainable development.

In 2017, ICBC issued their first Certified Climate Bond through their Luxembourg branch. The proceeds of this Green Bond will be used to finance and refinance a broad range of assets, including wind generation in China, solar generation in many countries and electrified railways in China. The Bond is certified under the Solar, Wind and Low Carbon Transport Criteria.

In 2018, ICBC issued their second Certified Climate Bond through their London branch.

 

DATE OF ISSUE  TYPE OF INSTRUMENT SIZE TENOR COUNTRY OF ISSUE CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT ANNUAL REPORT FURTHER INFORMATION
September 2017 Use of proceeds bond  USD 2.1bn 3 and 5 years Luxembourg Solar, Wind, Low Carbon Transport

Beijing Zhongcai pre issuance report

Post Issuance Verification Report

Annual Report 2018 Green Bond Framework
June 2018 Use of proceeds bond USD 1 billion and EUR 500m (total USD 1.58 billion) 3 and 5 years United Kingdom Solar, Wind, Low Carbon Transport, Marine Renewable Energy

Beijing Zhongcai pre issuance report

Beijing Zhongcai post issuance report

Annual Report 2018 ICBC Green Bond website