CDB issued 12 billion yuan of green financial bonds to promote green upgrading of infrastructure

On October 13, China Development Bank (CDB) successfully issued 12 billion yuan of “Bond Connect” green financial bonds exclusive for the green upgrading of infrastructure to global investors in the national inter-bank bond market. With a duration of 3 years and a coupon rate of 2.11%, the bonds have been subscribed by investors at home and abroad, seeing a subscription ratio of 4.41 times. So far, CDB has issued 156 billion yuan of green financial bonds.

Since the beginning of this year, CDB has been focusing on its main responsibilities and operations, making all-out efforts to provide financial services in the infrastructure sector, helping promote green upgrading of infrastructure, green transformation of energy systems and green development of transportation systems. In the issuance of the bonds, CDB selected the investment projects in strict accordance with the Green Bond Endorsed Projects Catalogue (2021), and complied with the Green Bond Principles and China Green Bond Principles voluntarily. The funds raised will mainly be prioritized for green projects such as urban environmental infrastructure, construction and operation of urban and rural public transportation systems, which have passed independent third-party assessment and certification and been proved to have obvious environmental and social benefits with a green rating of G1. According to estimates, after the completion of relevant projects, it is expected to reduce 59,200 tons of carbon dioxide, save 29,500 tons of coal equivalent, cut 32,700 tons of water pollutants, and achieve 3,907 hectares of water ecological treatment and 191,000 cubic meters of river dredging.

According to an official from the Treasure and Financial Market Department of CDB, the bank will bring into further play its role as a development finance institution, practicing the philosophy of green development, continuously enriching the system of green financial products, increasing support for green projects, and making new contributions to serving the green upgrading of infrastructure.