BOC issues RMB1.8b biodiversity bonds

The Bank of China’s (BOC) Macau branch issued biodiversity-themed “green bonds” amounting to RMB1.8 billion on September 23, the bank announced in a statement.
Issued in both the Chinese yuan and the Macanese pataca denominations, the bonds are the world’s first batch from a financial institution with third-party accreditation on its theme and Asia’s first biodiversity theme.
Funds raised by the bonds will be used on approved green projects relating to biodiversity.
The batch issued in patacas takes a unified mode of sale that consolidates local issuance, listing, trusteeship and clearance. The batch in yuan, meanwhile, will be listed on the Macao Financial Assets Exchange (MOX).
The institution emphasized that the primary reason for the issuance was China’s hosting of the 15th Conference of the Parties to the Convention on Biological Diversity in Kunming, Yunnan Province.
The issuance also aligns with the national developmental strategy in green finance as part of the 14th Five-Year Plan. Moreover, it highlights Macau’s catalyzing position in the national development of green finance.
The bank has previously issued other green bonds and blue bonds. The issuance of biodiversity bonds has filled the gap of such products in the market, the bank added. AL