Current location:Culture Circuit news portal > world
Chinese bank unveils green bond in London
Culture Circuit news portal2024-05-02 01:17:34【world】6People have gathered around
IntroductionRepresentatives from China's embassy in the UK, the Agricultural Bank of China, the UK Parliament, a
Representatives from China's embassy in the UK, the Agricultural Bank of China, the UK Parliament, and the banking system witness the listing of the new green bond at the London Stock Exchange on Wednesday. CHINA DAILY
Agricultural Bank of China launches new product in UK's financial center
The London branch of the Agricultural Bank of China launched its first green bond on the London Stock Exchange on Wednesday, with the aim to facilitate an equitable transition to a low-carbon economy.
The listed green bond is a three-year, $300 million floating-rate bond, and is the first green bond to be issued by the Agricultural Bank of China that is linked to the new benchmark interest rate, the secured overnight financing rate, which is also known as the SOFR.
Speaking at the listing ceremony, Zheng Zeguang, China's ambassador to the United Kingdom, emphasized that the listing reflects the firm actions taken by the Chinese government and companies in promoting green and low-carbon development and combating climate change.
He mentioned the substantial progress made by China in its climate efforts, citing that in 2022, China's CO2 emission intensity had decreased by more than 51 percent compared to 2005. Additionally, China now possesses almost half of the world's installed photovoltaic capacity, and he said more than half of the world's new energy vehicles are on China's roads.
Zheng said China has contributed one-fourth of the global increase in afforestation area, and allocated more than 1.2 billion yuan ($168 million) of special funds for South-South cooperation on climate change.
Since 2015, $12.2 billion of green bonds from Chinese banks have been listed on the London Stock Exchange and the number is expected to continue to grow.
"This demonstrates the potential in growth prospects of mutually beneficial cooperation between China and the UK on green financing," Zheng said. "I hope the two countries will work together to carry out more collaboration in green and low-carbon fields, so as to bring more benefits to people in both countries and also make a greater contribution to this global effort to combat climate change."
Lin Li, vice-president of the Agricultural Bank of China, said: "With a focus on green and low-carbon development, the bank has introduced plans for green finance development and continuously improved a multi-level green investment and financing business system."
As of the end of September, the total green credit balance of the Agricultural Bank of China had reached 3.8 trillion yuan, with green investments approaching 40 billion yuan, and ESG-themed wealth management products totaling approximately 50 billion yuan.
Lin pledged that all raised funds from the green bond issuance will be used for qualified green projects that support the development of the green economy.
The London branch of the Agricultural Bank of China is committed to strengthening cooperation with local financial institutions in the UK and providing comprehensive and high-quality financial services to Chinese and British enterprises and promoting the development of China-UK economic and trade relations, he added.
Tom Attenborough, head of international business development for primary markets at the London Stock Exchange, said the listing of the green bond strengthens the long-standing trusted cooperation between the London Stock Exchange and the Agricultural Bank of China, and he hopes that there will be additional future collaborations with other Chinese financial institutions, to address global sustainable development challenges.
Address of this article:http://comoros.whetstonetavern.com/article-76b199878.html
Very good!(89)
Previous: How major US stock indexes fared Tuesday, 4/30/2024
Next: Portuguese
Related articles
- South African boxer Dingaan Thobela, 'The Rose of Soweto,' dies aged 57
- Imprisoned drug
- It hasn't taken Jude Bellingham long to realize how big a problem racism is in Spanish soccer
- Rory McIlroy debunks LIV Golf rumors. Greg Norman claims unanimous support during Masters trip
- Iran commutes a tycoon's death sentence to 20 years in prison
- Rory McIlroy debunks LIV Golf rumors. Greg Norman claims unanimous support during Masters trip
- Dr. Martens stock plunges after dour US revenue outlook
- Olympic gold is great, but athletes say some cash to go with it is even better
- Drury, Noesen help Hurricanes beat Islanders 6
- Michigan gets 3 years of probation for football recruiting violations
Popular articles
- Explainer: What makes China magnet for multinational corporations?
- Moment two bears grapple with each other in remarkable scrap captured on camera in national park
- Traveler issues severe warning to any 'morning people' who want to visit Argentina
- Business boom: Record numbers of people are starting up new small businesses
Recommended
Chris Hemsworth flexes muscular form as sword
Laos and Cambodia see rise in traffic deaths over New Years weekend — Radio Free Asia
Sienna Miller looks incredible in a tiny black bikini as she surfs the waves in Costa Rica
PGA Tour gets post
Campaign to build new California city submits signatures to get on November ballot
Dr. Martens stock plunges after dour US revenue outlook
Proposed design for a train station in Nanjing is ridiculed by Chinese internet users
Trump says New York judge won’t let him attend son’s graduation, no ruling has been made
Links
- Senior Chinese diplomat urges U.S. to adopt rational, pragmatic China policies
- UN chief, Turkish president promise to work for peace in Ukraine
- China implements visa
- UN chief, Turkish president promise to work for peace in Ukraine
- Multinational enterprises confident of China's economic growth target
- Xi Story: Cradle of China's Rural Reform Embarks on Rural Revitalization Journey
- Tokyo 2020 Paralympic Games open
- Xi in My Eyes
- School shootings in U.S. rise to highest number in 20 years: report
- (W.E. Talk) To Understand China, You Need to See China for Yourself