Sustainable Finance - Published Projects

Recently, CECEP Environmental Consulting Group Co., Ltd. (CECEPEC) issued a Second Party Opinion on the alignment of the Sustainable Finance Framework (“Framework”) of Shaoxing Shangyu Urban Construction Group Co., Ltd. (Shangyu Urban Construction Group) with the Green Bond Principles 2021 (“GBP”), the Social Bond Principles 2021 (“SBP”), the Sustainability Bond Guidelines 2021 (“SBG”) by the International Capital Market Association (ICMA) and/or the Green Loan Principles 2021 (“GLP”) by the Loan Market Association (LMA). CECEPEC is of the opinion that the Framework is aligned with the four core components of the GBP, SBP and GLP, and aligned with SBG. Recently, Shangyu Urban Construction Group also successfully issued the first sustainable offshore bonds for state-owned enterprises in the Yangtze River Delta region based on this Framework.

The net proceeds under the Framework will be exclusively financed or refinanced in Green Buildings, Renewable Energy, Pollution Prevention and Control, Sustainable Water and Wastewater Management, and Environmental Sustainable Management of Living Natural Resources and Land Use, and Affordable Housing and Affordable Basic Infrastructure, which are aligned with the eligible Green or Social Project Categories listed in GBP, SBP and GLP. Meanwhile, the Framework also elaborates on the conformity of Eligible Project Categories with the United Nations Sustainable Development Goals (SDGs). In addition, the Framework illustrates how the Sustainability Financing Team of Shangyu Urban Construction Group will oversee the project evaluation and selection process and how to manage the proceeds. At the same time, Shangyu Urban Construction Group commits to disclose the Allocation Report on an annual basis and disclose the Impact Report. The possible indicators of the Impact Report have been set out in the Framework, which will objectively and effectively reflect the environmental and social benefits of the project.