(Will provide later)
Case: ICBC
The Industrial and Commercial Bank of China (ICBC), launched a four-tranche US$ 2.2 billion bond to finance green projects from the Belt and Road initiative in 2019. The ICBC described the bond issuance as “the world's first green Belt & Road Inter-bank Regular Cooperation bond (“BRBR” bond).” According to ICBC's Green Bond Framework, the funds are to be used for projects pertaining to renewable energies, low carbon emission transportation, energy efficiency and sustainable water and wastewater management. According to the ICBC, these bonds were underwritten by 22 institutions from over ten countries and regions along with the Belt and Road initiative. The initiative aims to improve regional cooperation and connectivity and strengthen infrastructure, trade, and investment links between China and 65 other countries[1].
Source: Nordic Sustainable Investment
[1] ICBC. (2019). ICBC Successfully Issued the World’s First Green BRBR Bond. https://www.icbc.com.cn/icbc/en/newsupdates/icbc%20news/ICBCSuccessfullyIssuedtheWorldsFirstGreenBRBRBond.htm