The Bank consolidated its advantages in green bonds by issuing green and sustainable development bonds and increasing support for green projects. It assisted a number of enterprises in issuing green debt financing instruments. It vigorously made green bond investments and ensured the quality and efficiency of these investments through meticulous preparation before investment, strict risk control during investment, and continuous monitoring after investment.

By the end of 2024

The Bank issued USD700 million worth of overseas green finance bonds and RMB10 billion worth of domestic total loss absorbing capacity (TLAC) non-capital green bonds.

The Bank underwrote domestic green bonds of RMB261,837 million, ranking first in the interbank market.

The Bank under wrote overseas green bonds of USD23,795 million, taking the first place among Chinese institutions in Bloomberg's global offshore green bond rankings.

The Bank's green bond investments surpassed RMB100 billion, placing it first among investors in green debt financing instruments for 2024, according to the National A association of Financial Market Institutional Investors (NAFMII).

Issuing the world's first sustainability-linked, green, and social loans bonds

In 2024, the Bank issued the world's first sustainability-linked, green, and social loans (SGS) bonds in Frankfurt, with an issue size of RMB2.5 billion and a two-year term. The SGS bond framework adheres to the latest market standards, covers a broad spectrum of ESG loans, and directs the proceeds to eligible SGS projects, offering international investors a new avenue to support ESG development. This initiative represents another innovative step by the Bank to enhance the global ESG financial product and service ecosystem, contributing to the achievement of sustainable economic and social development.

Underwriting the first Panda bonds in South America

In 2024, the Bank, as the lead underwriter and bookrunner, assisted Brazil's Suzano, a major global market pulp producer, in issuing green Panda bonds as medium-term notes, with an issue size of RMB1.2 billion and a three-year term. All proceeds will be allocated to invest in green-certified plantation eucalyptus forests in Brazil, producing renewable raw materials that can replace petroleum-based products. The use and management of the proceeds adhere to the International Capital Market Association (ICMA)'s Green Bond Principles , the China Green Bond Principles , and the Catalogue of Green Bond-Endorsed Projects (Version 2021) , among other relevant standards. This marks the first Panda bond issued in South America, as well as the first green Panda bond issued by a multinational corporation in the year, further strengthening green finance cooperation between China and Brazil.

Jointly releasing the China Bond-BOC Green Bond Index

In 2024, the Bank, in collaboration with China Bond Pricing Centre, jointly launched the China Bond-BOC Green Bond Index. The constituent bonds of the index are green bonds that are publicly issued and traded domestically with an issue volume of no less than RMB1 billion, a remaining maturity of more than 1 month and less than 5 years (inclusive of both 1 month and 5 years), and a China Bond implied rating of at least AAA-. The issuers of these bonds are policy banks or credit bond issuers with an issuer rating of AAA and a China Bond ESG score of 6 points or above.

The index organically integrates the concept of sustainable development and green finance, selects green bond issuers with excellent performance in the field of sustainability by introducing ESG evaluation indicators, and provides investors with diversified performance comparison benchmarks and investment targets, thereby further enriching the lineup of green finance products.