Symbiotics Investments has arranged a USD 6.3 million Green Bond for Zuoli.
With the issuance of this Green Bond, Zuoli will finance, amongst others, green buildings and energy efficiency projects in the Zhejiang province. Through the proceeds of this bond, Zuoli showcases its ability to align with the internationally accepted International Capital Market Association Green Bond Principles (ICMA GBP), increasing the attraction of international financiers.
The issuance is also a milestone for Symbiotics Investments as it is the firm’s first green bond for China. As one of the fastest growing single-country markets for green bonds, China is providing ample investment opportunities for investors keen to support efforts in climate change mitigation and adaptation.
“Symbiotics Investments is delighted to partner with Zuoli in its efforts to address the challenges of climate change. Zuoli’s green loan products help clients transit into energy efficient solutions, empowering local SMEs and bringing the community on a path of sustainable development.”, said Eugene Tan, Symbiotics Regional Manager, East Asia.
“Green Development has become today’s new global consensus. In China, especially in the context of the government ‘carbon peak and carbon neutrality’ commitments, all industries are striving to achieve the goals. As a microcredit-company, we have transformed ourselves towards a green business model by providing our clients with green financing to enabling environmental protection, energy conservation, renewable energy, green buildings, clean transportation, etc. The partnership with Symbiotics Investments represents our joint collaboration for driving green transformation. It also expands our ability to support more green projects.”, stated Sheng Yang, Vice Chairman and General Manager of Zuoli Microfinance.
The following SDG is promoted with this Green Bond issuance:
This Green Bond is issued via Symbiotics sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, which was certified in December 2019 and November 2021 by DNV GL. The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed on the Luxembourg Green Exchange, in the Green Bond section.
About Symbiotics Investments
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than USD 7.5 billion for 541 companies in 94 countries. symbioticsgroup.com
Established in August 2011, Zuoli Microfinance is a Hong Kong Stock Exchange listed company. It is the largest microfinance company in terms of registered capital in the Zhejiang Province of China. The Company firmly believes in the concept of inclusiveness and green development with the mission to help customers develop, care for employees’ professional and personal growth, fulfill the company’s social responsibility and enhance shareholders’ value. With its core values of integrity, innovation, responsibility and the win-win, Zuoli is specialized in providing rural and SME clients with flexible and affordable financing solutions.
In April 2020, Zuoli became the first company to be designated as a green micro-finance company by the Government of Huzhou City of the Zhejiang Province. The Company was one of the conveyers for establishing the “Green Microfinance Company Design and Evaluation Standards”, to develop a proprietary IT system to assess green eligibility, to digitize the internal green loan risk control process to efficiently serve green businesses i.e., EE & RE. As of December 31 2021, Zuoli green portfolio was RMB 420 million, approximately 15.6% of its total outstanding loan balance. zlkcxd.com
For more information, contact:
Samy Derradji, Corporate Communication Manager, Symbiotics
Chenchen Jiang, Deputy Manager of Green Finance Development Department, Zuoli