CDB issued 15 billion yuan of green financial bonds to support the environmental conservation and green development of Yangtze River

On March 1, China Development Bank (CDB) successfully issued 15 billion yuan of 3-year-term “Bond Connect” green financial bonds for “Environmental Conservation and Green Development of Yangtze River” at a rate of 2.65%, which was actively subscribed by various investors both from home and abroad, with an subscription ratio of 3.74 times. As of now, CDB has issued green financial bonds totaling 171 billion yuan. Representatives from major investors such as Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BOCOM), and Postal Savings Bank of China (PSBC) witnessed the issuance on the spot.

CBD implemented the decisions and instructions of the CPC Central Committee and the State Council in a thorough manner, conscientiously fulfilling its duties and missions to support major national and regional strategies. Following the work requirements of the Action Plan for Conservation and Restoration of Yangtze River issued by the Ministry of Ecology and Environment (MEE) together with other ministries and commissions, it explored market-based ways to support the environmental conservation and green development of Yangtze River. In this offering, the projects were selected in strictly accordance with the Green Bond Endorsed Projects Catalogue (2021 Edition) and in the meantime in voluntary compliance with the Green Bond Principles and the China Green Bond Principles. With regard to the funds raised, priority will be mainly given to green projects along Yangtze River such as urban rail, sewage treatment and pipe network, water ecological governance, rural living environment renovation, river and wetland restoration and conservation. Upon the independent assessment and authentication by a third-party institution, this offering will bring remarkable environmental and social benefits, so it has been listed as G1, the top level of Green Rating. According to the estimation, after completion, these projects are expected to reduce 25,200 tons of carbon dioxide emission, save 12,000 tons of standard coal equivalents, and reduce 32.74 tons of nitrogen oxide emission and 28,800 tons of water pollutant COD.

According to a relevant official from CDB, next CDB will further take its role into play as a development finance institution, put the green development concept into practice, unceasingly diversify green financing products, and increase its efforts to support green projects, striving to make new contributions to the environmental conservation and green development of Yangtze River.