On June 7, 2024, the "Wuxi Huaguang Environment & Energy Group Co., Ltd. 2024 Green Medium-term Notes (Sustainability-Linked)," co-underwritten by CIB, was successfully issued. The issuance scale was 300 million RMB with a term of three years, marking the first green sustainability-linked principal sci-tech bond in the nation.
The bond issuer, Wuxi Huaguang Environment & Energy Group, is a leading boiler equipment manufacturer and the country's largest research center and manufacturing base for water treatment equipment, recognized as a National Enterprise Technology Center. The proceeds from this bond will be used for a green industrial project at a fly ash landfill site, expected to handle an average of 101,600 tons of solid waste annually, significantly benefiting the environment. Additionally, this sustainability-linked bond is tied to the company's sustainable governance goals, with performance targets of handling no less than 219,900 tons of kitchen waste in 2024 and no less than 225,300 tons in 2025, directing funds specifically towards green sustainability initiatives.
As a pioneer in green finance in China, CIB leverages its strengths in both “commercial + investment banking” to actively participate in the construction of the green bond market, making significant contributions to the field of green finance. By the end of 2023, CIB had underwritten 21.806 billion RMB in green bonds, maintaining a leading position among joint-stock banks. Furthermore, CIB has deepened its integrated underwriting and investment approach, consistently increasing its investment in green bonds, with a cumulative investment of 16.082 billion RMB in Green Renminbi Credit Bonds throughout 2023 and a year-end balance exceeding 34 billion RMB.