Bank of China Limited (“BOC”) plans to announce its first Transition Bonds transaction in the offshore market in the near term. BOC has established and published Bank of China Limited Transition Bonds Management Statement. BOC will issue offshore Transition Bonds in accordance with the ICMA Climate Transition Finance Handbook (2020), in alignment with the four pillars of relevant ICMA principles, as well as in consideration of the climate change mitigation transition activity classification as defined in the TEG Final Report on the EU Taxonomy, and including the principles of “Avoidance of Carbon Lock-in” and “Do No Significant Harm”, and the proceeds raised from Transition Bonds will be used for financing and / or refinancing of eligible projects. Please refer to the attachments in relation to BOC’s 2021 Transition Bonds.
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