Regional lender Bank of Chengdu completed an issue of 3 billion yuan in green finance bonds on 10 March, for the purpose of supporting the development of local green industry and helping enterprises to make the transition to low-carbon operation.
The bonds have a term of three years and a rate of 2.95%, with proceeds raised to be used to make loans to carbon mitigation projects.
The municipal lender said that the green bond issue is part of its efforts to help China meet the carbon mitigation targets of peak carbon by 2030 and carbon neutrality by 2060.
Banks of Chengdu’s green project lending has thus far focused on clean energy public buses, power generation that makes of use of garbage, recycling of solid waste, waste water processing and urban water supply.
