Project Details
Project
BCG Green Bond Framework Second-Party Opinion
Client
Beijing Capital Group
Project Type
Green Bond/Loan
Industry Group
Industrial Conglomerates
Use of Proceeds
Water/waste water management; Clean transport; Sustainable agriculture; Green buildings;
Location
China
Evaluation Date
Mar 2018
Evaluation Summary
Sustainalytics is of the opinion that Beijing Capital Group Company Limited’s Green Bond Framework is credible and impactful and aligns with the four pillars of the Green Bond Principles 2017. Sustainalytics views BCG’s green bond positively.
USE OF PROCEEDS
The eligible categories for the use of proceeds (Sustainable Waste Management, Air Pollution Control, Sustainable Water Management, Low Carbon Transportation, Sustainable Agriculture, Green Buildings) are recognized by the Green Bond Principles as project categories with positive environmental benefits.
PROJECT EVALUATION/SELECTION
BCG’s process for project evaluation and selection is executed through a dedicated Green Bond Working Group. This is in line with market best practice.
MANAGEMENT OF PROCEEDS
BCG’s management of proceeds is in line with market practice and it includes a “Green Bond Allocation Register” under the Framework. The Register is comprised of relevant information on all transactions and allocation of the net proceeds.
REPORTING
BCG demonstrates a strong adherence to transparency in allocation and impact reporting. With regards to impact reporting, the company will report on an extensive set of quantitative and qualitative impact metrics for each eligible category, such as waste diverted from landfills (in tonnes), amount of wastewater treated (in tonnes), railway tracks built, repaired or modernized (in km), amount of energy saved (in MW) or CO2 (or other GHGs) avoided (in tonnes), among other metrics.