The climate bond marks the first issuance dedicated to green projects following the “Belt and Road Initiative” (BRI) ever. It will support projects in China’s domestic provinces and in foreign countries key to the BRI initiative. This marks the first issuance by the Industrial and Commercial Bank of China (ICBC) out of its green bond framework. Raised proceeds will finance and refinance projects linked to renewable energy, low carbon and low emission transportation, energy efficiency, as well as sustainable water and wastewater management.
The ICBC adopted best-in-class practices in structuring its green bond framework, in alignment with the latest international and Chinese green standards. The bank is the first Chinese issuer to provide a second opinion by the Center...
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