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BoC Lists A Green Bond On The Luxembourg Stock Exchange (LuxSE) As First Chinese Bank To Do So

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Bourse de Luxembourg

Today, the Luxembourg Stock Exchange (LuxSE) listed, and admitted to trading on its Euro MTF market, four green bonds issued by the BoC.

Under its US$20,000,000,000 Medium Term Note Programme the bonds were issued by BoC. The amount raised from the issuance of these green bonds will be used to finance projects that will promote pollution prevention, renewable energy, clean transportation and sustainable water management.

With a total issue amount of $2.8 Bn, the bond issue is made up of four different series:

· XS1437622621 U.S. $750,000,000, Floating Rate Notes due 2019

· XS1437622548 U.S. $500,000,000, 1.875 per cent. Notes due 2019

· XS1437622977 U.S. $1,000,000,000, 2.250 per cent. Notes due 2021

· XS1437623355 EUR 500,000,000, 0.750 per cent. Notes due 2021

BoC established its market leadership in the European bond market in 2014 with the ‘Schengen Bond’, becoming the first Chinese Financial Institution to list an offshore RMB Bond in Europe. With the present listing, BoC continues its Schengen Bond series as a first mover among Chinese Banks by becoming the first Chinese Financial Institution to issue a Green Bond on the European Continent and list on the LuxSE. Of equal importance, BoC demonstrates its commitment to Green Finance and environmental responsibility and sets a standard for the global Green Bond market with this listing, by becoming the first bank to list multiple Green Bond tranches simultaneously under a single programme.

This listing further confirms LuxSE’s position as the natural home of Green Bonds and LuxSE’s commitment to promoting the development of Green Finance and socially responsible investment. It demonstrates LuxSE’s capability to bring further scale to the Green Bond market and its strong commitment promoting the evolution of the Green Bond market in line with the industry best practices.

An event to mark this achievement was held by LuxSE in the presence of the Luxembourg Minister of Finance, Pierre Gramegna, Mr. Huang Changquing, Chinese Ambasador to Luxembourg and representatives of BoC and LuxSE.

Comments on the issue:

Julie Becker, Executive Committee Member of the Luxembourg Stock Exchange, said:

“Today we celebrate a tangible milestone in achieving our role in facilitating the financing of the global transition towards a low carbon economy. We welcome Bank of China’s entrance into this segment, and commend them for showing their leadership in capital markets innovation. LuxSE provides issuers with proven solutions for optimisating of Green Bond disclosure and investors with innovative assesment solutions. ’’

Mrs. ZHOU Lihong, CEO at Bank of China in Luxembourg said:

Today we reached another milestone in Bank of China’s Bond issuance history.

“Following the launch in 2014 of the first offshore RMB Bond by a Chinese entity in Continental Europe, the ‘Schengen Bond’, Bank of China Luxembourg Branch continued on this path by joining forces with Bank of China Head Office and successfully launched the ‘Green Schengen Bond’ on July 5th, 2016.

This represents the very first Green Bond issued by Bank of China and the first Green Bond offering from Asia to be made in Europe.

Despite the news about the ‘Brexit’ and the turmoil left in the financial markets, Bank of China succeeded to launch the biggest international debt sale of its kind, proving once again its attractiveness to and high recognition from professional investors.

The “Green Schengen Bond” is an excellent demonstration of Bank of China’s determination to promote the green bond market development in Europe through its Luxembourg branch and our bank’s strong wish to continuously support Luxembourg in it’s strive to remain the leading Green Bond listing centre.’’

Pierre Gramegna, Luxembourg Minister of Finance said:

“The Luxembourg Government is strongly committed to the double objective of assuming a meaningful contribution to the global fight against climate change and continuing the development of Luxembourg as an international hub for climate finance. As a leading financial center in the heart of Europe with a global outlook and well established market expertise, Luxembourg plays a pivotal role in the funding of green entrepreneurship, supporting the growing market for green bonds and ensuring appropriate transparency. The LuxSE is well prepared to assume its role as a trustful partner offering the necessary guarantees for issuers and investors with a scope on sustainable development.”

 

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

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energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

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Economy

IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”

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IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.

Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.

Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.

Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:

“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.

We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.

There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.

We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”

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