Mr. Fei CHEN (ICBC) : ICBC’s achievement in green climate bond
Fei CHEN, Chairman of ICBC (Europe) SA, describes ICBC’s main activities, especially green climate bonds.
Can you describe your banks activities in Luxembourg in a few words?
Headquartered in Luxembourg, one of the world’s financial centers, ICBC (Europe) S.A operates a network of branches in major European cities, namely Paris, Amsterdam, Brussels, Milan, Madrid, Barcelona and Warsaw. The bank has full banking license and can provide a rich variety of services including remittances, loans, trade finance, international settlements, RMB business, currency exchange, clearing, cash management, private banking, investment banking, asset management and custodian services among others. Meanwhile, with highly qualified management and experienced staff, we can serve customers with a full portfolio of quality banking services. The bank strives for organic balance between economic and social causes and has been widely recognized as a responsible, leading bank.
Could you name a recent transaction that illustrates how Luxembourg is now integrated in your global strategy?
On 26th September 2017, ICBC’s Luxembourg Branch announced the issued the first “Belt and Road Initiative” (BRI) Green Climate Bond, marking the first certified climate bond for a Chinese bank. ICBC Luxembourg Branch’s US$2.15 billion equivalent, dual-currency, triple-tranche green bond, issued on 28th September 2018 was awarded as the “Best ESG Deal” in Finance Asia’s Achievement Awards 2017, “SRI Bond” in the IFR Asia Awards 2017 and was chosen as the “Best Green Bond” by the Asset Triple A Country Award 2017. ICBC has integrated green financing in its long-term strategy and the ICBC’s green bond issue reflects the bank’s strategy of promoting responsible banking while advancing the Belt and Road Initiative. Over the years, ICBC has become the largest underwriter of green bonds in China and one of the largest lenders in the green economy.
What is your advice for Chinese people who have just arrived Luxembourg?
Luxembourg is small, but charming. Its culture, people and languages are highly intertwined with its neighbors, making the quiet and peaceful country a mixture of diverse cultures. Residents and international commuters from various countries are shuttling back and forth in the country. At the same time, Luxembourg has a sound legal and regulatory environment, an efficient financial system, a strict confidentiality law and a clear and concise tax policy etc. With its mature and stable financial market, Luxembourg enjoys a superior position as a global financial center. It is a good choice to work here.
What do you advise people going to China to do first?
For newcomers to China, the most important thing is to adapt to the differences of new the region, culture and language etc. China has an open, inclusive, cultural environment with profound traditional cultural foundations. We hope the newcomers to China can enjoy the unique cultural essence of China, communicate with Chinese people and like our home country.