“ICBC highly appreciates the efforts made by Luxembourg Stock Exchange to promote green development and support the green finance cooperation between China and Luxembourg. ICBC is willing to take advantage of its accumulated strength in the field of green finance and its institutions in Europe, to build financial bridges through bilateral and multilateral platforms and mechanisms, to inject more new momentum into China-Luxembourg and China-EU green finance cooperation, and contribute to global sustainable development,” commented Zhang Weiwu, Senior Executive Vice President at ICBC and based in ICBC’s global head office in Beijing.
In August, ICBC released its updated Green Bond Framework which was certified as credible and impactful, and aligned with ICMA’s Green Bond Principles by second-party opinion provider Sustainalytics. The new framework was also reviewed by Beijing Zhongcai Green Financing Consultant, which confirmed the framework’s alignment with the 2021 edition of the Green Bond Endorsed Projects Catalogue, issued by People’s Bank of China, the National Development and Reform Commission and the China Securities Regulatory Commission.
Joining forces for green finance
LuxSE and ICBC have cooperated closely since 2014, when the two institutions signed a Memorandum of Understanding. In 2017, ICBC brought its inaugural Belt and Road green bond to the exchange and two years later, the bank became the first Chinese bank to be admitted as a trading member at LuxSE.