“China Merchants Bank Joins LGX With Its First Sustainability Bond” – Mondovisione – September 28, 2020

On September 28, 2020 Mondovisione reported:

“The Luxembourg Stock Exchange (LuxSE) and China Merchants Bank (CMB) today celebrated the display of CMB’s first Sustainability Bond on the exchange’s green platform, the Luxembourg Green Exchange (LGX). The USD 300 million Sustainability Bond is the first-of-its-kind to be issued by CMB, in turn making it the first Sustainability Bond ever issued by a Chinese commercial bank.

‘Today marks an important step forward in our longstanding relationship with CMB and for the future of commercial banks’ sustainability mission in China. Driving a sustainable recovery is a priority for us all and we are proud to facilitate CMB’s innovative actions through this listing and further inclusion on LGX,’ commented Robert Scharfe, CEO of LuxSE.

The 3-year Sustainability Bond is a first-of-its-kind issuance by China’s largest commercial bank and reflects the bank’s overall sustainability strategy, which is demonstrated through the publication of CMB’s Green, Social and Sustainability Bond Framework in September this year, where a clear exclusion of clean coal was made.

‘Luxembourg is an important partner of the Belt & Road Initiative and we are pleased to celebrate the successful listing of our first sustainability bond in Luxembourg. This bond issuance reflects our international ESG strategy, as well as our focus on creating long-term value and contributing to building a green and sustainable future,’ said Tian Huiyu, CEO of CMB, who attended the ceremony virtually from CMB’s headquarters in Shenzhen, China.”

You may read the article on the Mondovisione internet site.