London branch of China's ICBC receives CBI Green Bond Pioneer Award

LONDON, March 5 (Xinhua) -- The London branch of the Industrial and Commercial Bank of China (ICBC) received on Tuesday the Green Bond Pioneer Award for being the issuer of the "Largest Emerging Market Certified Climate Bond" in 2018.

The Awards are sponsored by the Climate Bonds Initiative (CBI). The Green Bond Pioneer Award is a symbol of innovation and achievement in Green finance and Green Bond market development.

Sean Kidney, CEO of the CBI, said that "ICBC, the world's biggest bank, demonstrated global leadership and best practice coming to market with 2018's largest certified climate Bond from an emerging market."

"This issuance had multiple pioneering qualities but most importantly it was a pointer for international investors ... the enormous Green opportunities in China and many other emerging economies," Kidney said.

Han Ruixiang, general manager of ICBC's London branch, said: "We are honored and proud to have received this Award acknowledging our ongoing commitment to sustainable finance."

"This Bond, issued by a Chinese bank, launched out of London and underpinned by investments across the world, illustrates the global nature of our sustainable funding program. We look forward to working with our partners and investors to enhance our Green offering as a core part of our responsible banking program," Han said.

ICBC London was recognized for its efforts to promote best practice in alignment with its sustainability strategy and a highly successful inaugural issuance of a Green Bond certified by the Climate Bonds Initiative worth 1.58 billion U.S. dollars.

The Bond was priced at the highest level ever achieved by ICBC in the U.S. dollars and euros and was the largest ever Green Bond listed on the London Stock Exchange.

The Green Bond Pioneer Award is the leading international recognition for issuers, regulators and service providers that have played a pivotal role in promoting Green Bonds and Green finance markets throughout the previous year.