Last week, Bank of China BOC achieved a world first for sustainable issuance, becoming the inaugural financial institution to issue a transition bond for application to activities in the steel sector.
The bank’s Luxembourg branch issued four tranches of euro-denominated notes amounting to EUR329.60 million $348.88 million, which will be put to work across steel projects in China’s central Hebei province.
“This issuance reflects Bank of China’s efforts to integrate sustainability considerations into their banking activities in a holistic manner,” Chaoni Huang, head of Sustainable Capital Markets for Asia Pacific at BNP Paribas, told FinanceAsia.
BNP Paribas served on the...
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