Bank of China lists 2.2-bln-USD sustainable bonds in London

LONDON, Nov. 12 (Xinhua) -- Bank of China on Friday held a listing ceremony for 2.2 billion U.S. dollars worth of sustainable bonds at the London Stock Exchange.

Choosing London to issue a highly innovative bond with a "Sustainability Re-linked" structure, the Chinese bank aims to offer investors exposure to a portfolio of underlying corporate loans linked to sustainability performance targets.

It also offered a listing on further five outstanding bonds, including two "Blue bonds" linked to water quality projects, two "Transition bonds" linked to cleaner energy transition projects and a bond issued to promote biodiversity.

The total value of these six bonds will reach 2.2 billion dollars.

"As the curtains close on COP26 (the 26th Session of the Conference of the Parties to the UN Framework Convention on Climate Change in Glasgow, Scotland), humankind has really only just started to address and tackle the very serious climate challenges we are faced with," said Fang Wenjian, general manager of Bank of China London Branch.

"As I often say, we are now in a race to net zero, not a walk. Bank of China and other Chinese banks are fully committed to joining hands with our UK friends and partners," he noted.

Also present at the listing ceremony included Chinese Ambassador to Britain Zheng Zeguang, Britain's Economic Secretary to the Treasury and City Minister John Glen, and Chair of the Policy and Resources Committee of the City of London Corporation Catherine McGuinness.

Bank of China has a significant presence in Britain with more than 700 staff in offices in London, Manchester, Birmingham and Glasgow. With its 50 billion pounds (about 66.8 billion dollars) balance sheet and extensive lending in Britain, the bank is an important part of Britain's banking scene.