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.

 

Bank of China

 

 

Bank of China is the oldest bank in China and one of the largest, both in China and in the world.

In 2017, Bank of China's (BOC) issued their first Certified Climate Bond through their Paris branch. The Bank of China is commited to use its lending to support its sustainability objectives. The proceeds from this bond will refinance loans that were made to support 2 wind energy projects in Europe and 15 subway metro systems in China.

Bank of China has developed an internal Green Bond Framework that will allow them to Certify more issuances in the future as part of a broader Green Bonds Programme. Due to its global network, BOC will allocate the net proceeds of the Green Bonds to eligible projects and assets across many domestic and overseas markets. 

In 2018, Bank of China issued their second Certified Climate Bond through their London branch.

In 2018, Bank of China issued their third Certified Climate Bond through their Tokyo branch.

In 2019, BoC issued their fourth Certified Climate Bond through their Macau branch, which was listed in Hong Kong.

 

DATE OF ISSUE  TYPE OF INSTRUMENT SIZE  TENOR  Jurisdiction of Issuance CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT ANNUAL REPORT FURTHER INFORMATION
November 2017 Use of proceeds bond USD 1.5 billion multiple tenors, up to 5 years France (BoC Paris) Low Carbon Transport, Wind

pre issue report by EY Asia Pacific

post issuance verification 2018

post issuance verification 2019

use of proceeds report 2018

use of proceeds report 2019

Annual report published on BOC's website

Press Release

Green Bond Framework

Annual Report 2018

Annual Report 2019

June 2018 Use of proceeds bond USD 1 billion 5 years United Kingdom (BoC London)  Marine Renewable Energy, Low Carbon Transport, Wind, Water Infrastructure

pre issuance report by EY China

post issuance verification 2018

post issuance verification 2019

use of proceeds report 2018

use of proceeds report 2019

 

Bank of China Press Release

Green Bond Framework

Annual Report 2018

Annual Report 2019

November 2018 Use of proceeds bond

JPY 30 billion

RMB 800 million

(USD 379 million equivalent)

3 years Japan Low Carbon Transport, Water Infrastructure

pre issuance report by EY China

post issuance verification 2018

post issuance verification 2019

use of proceeds report 2018

use of proceeds report 2019

 

Bank of China webpage for this bond

Green Bond Framework

Annual Report 2018

Annual Report 2019

October 2019 Use of proceeds bond

EUR 300 million

RMB 2 billion

USD 350 million 

(USD 1 billion total equivalent)

up to 3 years China Low Carbon Transport, Wind, Solar

pre issuance report by EY China

post issuance verification 2019

use of proceeds report 2019

 

Bank of China webpage for this bond

Press Release (in Chinese)

Annual Report 2019