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Sustainable Finance - Published Projects

Background

In the sustainable debt market, issuers and borrowers should provide details to investors and lenders on the environmental and social eligibility criteria for the use of proceeds (UoP) bonds/loans and the ambition level of their sustainability performance targets (SPTs) for sustainability-linked bonds/loans. Many issuers and borrowers obtain an external review from an independent external reviewer such as CECEPEC.
CECEPEC issued a Second Party Opinion on the Sustainable Finance Framework of Foshan Gaoming Construction Investment Company Co., Ltd.
2023-07-13

In March 2022, CECEP Environmental Consulting Group Co., Ltd. (“CECEPEC”) issued a Second Party Opinion on the alignment of the Sustainable Finance Framework (“Framework”) of Foshan Gaoming Construction Investment Company Co., Ltd. (the “Company”) with the Green Bond Principles 2021 (“GBP”), Social Bond Principles 2021 (“SBP”), and Sustainability Bond Guidelines 2021 (“SBP”) released by International Capital Market Association (“ICMA”), and the Green Loan Principles 2021 (“GLP”) and Social Loan Principles 2021 (“SLP”) published by the Loan Market Association (“LMA”), the Asia Pacific Loan Market Association (“APLMA”), and the Loan Syndications and Trading Association (“LSTA”). CECEPEC is of the opinion that the Framework is aligned with the four core components of the GBP, SBP, SBG, GLP, and SLP.



Under the Framework, the Group commits that the net proceeds or equivalent amount of the net proceeds of each Sustainable Financing Transaction (“SFT”) will exclusively finance and/or refinance in whole or in part, new and/or existing projects falling into Eligible Green Projects Categories, including clean transportation, sustainable water and wastewater management, environmentally sustainable management of living natural resources and land use, and green building, which are aligned with those recognized by GBP and GLP; and Eligible Social Project Categories, including affordable housing, affordable basic infrastructure, and employment generation, which are recognized by SBP and SLP. Meanwhile, the Framework indicates that the Company adopted Exclusion Criteria following the latest International Finance Corporation Exclusion List to avoid funding projects that may have significant environmental and social risks.


In addition, the Framework demonstrates the process for evaluation and selection and management of proceeds. The Company also commits to disclose allocation and impact reports at least on an annual basis. The potential indicators of the impact report have been listed in the Framework, which will objectively and effectively quantify the environmental and/or social benefits of the projects.

Second Party Opinion.pdf

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