中国建设银行可持续发展类债券框架（2024版本）（英文版）

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ChinaConstructionBank

Green,Social,Sustainabilityand

Sustainability-Linked(“GSSS”)Bond

Framework

July2024

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1.IntroductionofChinaConstructionBankanditsSustainableDevelopmentStrategy

ChinaConstructionBankCorporation(“theBank”,“CCB”),headquarteredinBeijing,isaleadinglarge-scalecommercialbankinChina.Itspredecessor,People'sConstructionBankofChina,wasestablishedinOctober1954.ItwaslistedonHongKongStockExchangeinOctober2005(stockcode:939)andtheShanghaiStockExchangeinSeptember2007(stockcode:601939).TheBankprovidescustomerswithcomprehensivefinancialservices,includingcorporatefinancebusiness,personalfinancebusinessandtreasuryandassetmanagementbusiness.TheBankhassubsidiariesinvarioussectors,includingfundmanagement,financialleasing,trust,insurance,futures,pensionandinvestmentbanking.TheBankalsohasnearly200overseasentitiescovering31countriesandregions.

Withthevisionof“strivingtobecomeaworld-leadingsustainabledevelopmentbank”,theBankimplementsthenewdevelopmentconceptinacompleteandaccuratemanner,unswervinglyfollowsthepathoffinancialdevelopmentwithChinesecharacteristics,pushesforwardtheNewFinanceInitiative,andfullyintegratesenvironmental,social,andgovernance(ESG)elementsintostrategicdecision-makingandoperatingmanagement.TheBankcontinuestoimprovethelong-termmechanismforgreendevelopment,expandsthecoverageoffinancialservices,servesthesocietyandpeople’swell-being,andpromoteshigh-qualityandsustainableeconomicandsocialdevelopment.

2.FrameworkOverview

TheGSSSBondFrameworkofChinaConstructionBank(the“Framework”)providesguidelinesforalldomesticandoverseasbranchesandsubsidiariesofChinaConstructionBank(the“Bank”)toissueGSSSbonds,i.e.greenbonds(includingbluebonds),socialbonds,sustainabilitybondsandsustainability-linkedbonds,forthefinancingorrefinancingofeligibleassets/projects,soastofulfilCCB’sstrategiesofcorporatesocialresponsibilitytoservethepublic,promotelivelihoods,andbecomealow-carbonandenvironmentalfriendlybankforsustainabledevelopment.

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3.Green,SocialandSustainability(“GSS”)Bonds

Theissuanceofgreenbonds,socialbondsandsustainabilitybondsunderthisFrameworkwillbeinalignmentwiththeGreenBondPrinciples1,theSocialBondPrinciples2andtheSustainabilityBondGuidelines3publishedbytheInternationalCapitalMarketAssociation(ICMA)respectively.TheissuanceofbluebondswillbeinalignmentwithBondstoFinancetheSustainableBlueEconomy4publishedbyTheInternationalCapitalMarketAssociation(ICMA)togetherwiththeInternationalFinanceCorporation(IFC)–amemberoftheWorldBankGroup,UnitedNationsGlobalCompact(UNGlobalCompact),UnitedNationsEnvironmentProgrammeFinanceInitiative(UNEPFI),andtheAsianDevelopmentBank(ADB).GreenprojectslocatedinMainlandChinaareinalignmentwiththeGreenBondEndorsedProjectCatalogue5issuedbytheGreenFinanceCommitteeofthePeople’sBankofChina(PBoC)andotherindustrialcriteriaissuedbyrelevantauthorities.ForeachGreen,SocialandSustainabilitybond,thefollowingkeyprincipleswillbeadopted:

•UseofProceeds

•ProjectEvaluationandSelection

•ManagementofProceeds,and

•Reporting

3.1UseofProceeds

ThenetproceedsfromGreen,SocialandSustainability(“GSS”)bondsissuedunderthisFrameworkwillbeearmarkedforthefinancingand/orrefinancingofthefollowingeligibleassetsorprojects.

•ThenetproceedsfromgreenbondswillbeallocatedtoGreenEligibleCategoriesasdefinedin3.1.1.

•ThenetproceedsfromsocialbondswillbeallocatedtoSocialEligibleCategoriesasdefinedin3.1.2

•ThenetproceedsfromsustainabilitybondswillbeallocatedtoGreenEligibleCategoriesandSocialEligibleCategoriesasdefinedin3.1.1and3.1.2respectively

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/sustainable-finance/the-principles-guidelines-and-handbooks/green-bond

-principles-gbp/

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/sustainable-finance/the-principles-guidelines-and-handbooks/social-bond

-principles-sbp/

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/sustainable-finance/the-principles-guidelines-and-handbooks/sustainability

-bond-guidelines-sbg/

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/News/news-in-brief/new-guidance-on-blue-themed-bonds-to-help-unlock

-finance-for-a-sustainable-ocean-economy

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/goutongjiaoliu/113456/113469/4236341/index.html

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Specificthemes,includingbutnotlimitedtoblue,couldbeaddedtobondtransactionsbasedoneligiblegreenprojectsandeligiblesocialprojectsasdefinedin3.1.1and3.1.2asappropriate.ThenetproceedsfrombluebondswillbeallocatedtobluecategorisedGreenEligibleCategoriesasdefinedin3.1.1.

3.1.1GreenEligibleCategories

GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

RenewableEnergy

lProductionandtransmissionofrenewableenergy

-Examplesincludewindpower,

photovoltaicpower,solarthermal

utilization,hydropower(run-of-riverhydropowerandnoartificial

reservoir;orlife-cycleGHGemissionsthreshold<100gCO2e/kWhorpowerdensityofelectricitygeneration

facilities>5W/m2),biomassenergy,renewableenergypromotionprojectsandtheutilizationsofother

renewableenergy(theutilizationsofgeothermalenergywithlifecycle

GHGemissionsbelow100g

CO2e/kWh),oceanenergy,airsourceheatenergyandotherrenewable

energysources)

lInfrastructureconstructionrelatedtorenewableenergy,suchasland

development,constructionoftransportnetworksandbasestations

Bluecriteria

lProjectsthatincreasecontributionofmarineandoffshorerenewableenergytoenergymixandrenewableenergy

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GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

projectswhilesafeguardingthemarineenvironment

-Offshorewind(bothfixedandfloatinginstallations)

-Wave

-Tidal

-Floatingsolar

-Oceanthermalenergyconversion

Energy

Efficiency

lEnergysavingandemissionreduction

-Examplesincludeindustrialenergyconservation,energymanagementcentres,urban-ruralinfrastructureconstructionwithenergysavingandemissionreduction,reductionof

pollutants

-Examplesincludesmartgrids,energyinternet,distributedenergy

infrastructure1

Pollution

PreventionandControland

Waste

Management

lPollutionpreventionandenvironmentalrestorationprojects

-Examplesincludeindustrialsolid

wasteandwastegas(liquid)recycleandresourceutilization,recyclingandreprocessingofrenewableresources,recyclingofbiomassresources,soil

remediationanddecontaminationofhazardoussewage

Bluecriteria

1Meanstheconstructionandoperationofdistributedenergyinfrastructurelikedistrictenergystations

(includingnaturalgasdistrictenergystations),distributedphotovoltaicpowergenerationsystem,andenergymanagementsystemslikedistributedenergyaccessandpeak-balancingsystem,distributedelectricitytradingplatform

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GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

•Projectsthatprevent,control,and

reducewastefromenteringthecoastalandmarineenvironments

-Resourceefficiencyandcircular

economy(wastepreventionandreduction)

-Solidwastemanagementprojectswithin50kmofthecoastorariverthatdrainstotheocean

-Non-pointsourcepollution

management:projectsmustbewithin200kmofthecoastorwithin50kmofrivers(andtheirtributaries)thatflowtotheocean

Clean

Transportation

lRollingstocksandpublictransportvehicles

-Purchaseandmaintenanceofrollingstocksforexpressrailway,metro,

lightrailwayandurbanrailwaywhichuseonlyelectricity

-Purchaseofelectricbusesandtrolleys

lPublicrailinfrastructure

-Constructionandmaintenanceoftracks

-Modernisation,maintenanceandupgradestoelectriclinenetworks

lAssociatedrailinfrastructures

-Maintenanceandupgradeof

communicationsystems,signal

systems,ventilationanddrainage

systems

-Upgradesoflightingsystems,suchasinstallingLEDlightings

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GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

lMaintenanceofpublictransportsystem’soperationsites,BRTsystems,and

waterwayregulation,etc.

Bluecriteria

lProjectsthatincreaseenvironmentalperformanceandsustainabilityofportfunctionsandinfrastructure

lProjectsthatinvolveincreasing

environmentalperformanceand

sustainabilityofmaritimetransportation.

SustainableWaterand

WastewaterManagement

•Watersavingandtheuseof

unconventionalwater,suchasindustrialwater-savingtechnologytransformation,agricultureandanimalhusbandrywater-savingirrigationproject,seawater

desalination,etc.

•Constructionandmaintenanceof

sustainablecleanwaterand/ordrinkingwaterinfrastructure,suchasthe

constructionandmaintenanceofurbanwaternetworks,etc.

•Sewagetreatmentandrecycling,

comprehensivetreatmentofriverbasin,waterpollutiontreatmentand

decontaminationofhazardouswastewater,etc.

lFloodcontrolanddisastercontingencyworks,includingfloodbasinworks,

constructionofembankmentsformajorriversandriverchanneltreatment,etc.

Bluecriteria

lProjectsthatprevent,control,and

reducewastefromenteringthecoastalandmarineenvironments

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GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

-Wastewatermanagementprojectswithin100kmofthecoast

GreenBuildings

lEnergy-efficientmodificationof

new/existingbuildingsthatmeetthefollowingcriteria:

-ChineseGreenBuildingEvaluationLabel-2Starorabove

-U.S.LeadershipinEnergyand

EnvironmentalDesign(LEED)-Silverorabove

-BuildingResearchEstablishment

EnvironmentalAssessmentMethod(BREEAM)-VeryGoodorabove

-Otherequivalentinternationalstandards

EnvironmentallySustainable

ManagementofLivingNatural

ResourcesandLandUse

lEcologicalprotection,ecological

restoration,vegetationprotection,certifiedecologicalagriculture,

husbandryandfishery,sustainableforestrydevelopment,etc.

Bluecriteria

lDevelopmentofblueeconomy,i.e.

certifiedsustainablefisherymanagementprogramme,populationreconstruction

andecologicalvaluechainimprovement,etc.

TerrestrialandAquatic

BiodiversityConservation

Bluecriteria

lEnvironmentalprotection,treatmentandrestorationinrelationtothesea,

coastlinesandcoastalareas,suchas

reservoirrenovation,reserve

construction,vegetationrestorationandshorelineerosionpreventionfacilities,etc.incoastalareas

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GreenBond

Principles

Categories

Sustainable

Development

Goals

Categories

EligibilityCriteria

lMarinebiodiversityprotection,suchasfisheriesenhancementandreleaseofeggs,larvasoradultsofaquaticanimalsintotheoceantorestoreorincrease

population,improveandoptimisetheaquaticbiologicalcommunitystructure,constructandoperateaquafarm

lProjectsmustbewithinthemarineenvironmentorwithin100kmofthecoast

ClimateChangeAdaptation

•Projectsthatincreasetheresilienceof

ecosystems,includingcommunities,

climateobservationandearlywarning

systems,systemsandinfrastructureforanticipatedwindspeeds,heavyrainsandincreasedtemperature

Bluecriteria

lProjectswithin50kmofthecoastorwithinthemarineenvironmentthatsupportecologicalandcommunity

resilienceandadaptationtoclimatechangeincludingwaterresilient

infrastructureandbridgestoaddresshigherlevelsofflooding

3.1.2SocialEligibleCategories

SocialBondPrinciplesCategories

Sustainable

Development

Goals

Categories

EligibilityCriteria

Employment

Generation

throughthe

PotentialEffect

LoansrelatingtoInclusiveFinance(refertoAppendixI):

•Enterprises

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SocialBondPrinciplesCategories

Sustainable

Development

Goals

Categories

EligibilityCriteria

ofSME

FinancingandMicrofinance

-SMEsaredefinedbyChina’sNationalDevelopmentandReform

Commission,MinistryofIndustryandInformationTechnology,MinistryofCommerce,andNationalBureauofStatistics(refertoAppendixII)

•Individuals

-Operationloansforbusinessownedbyindividuals

-OperationloansforSMEs

-Operationloansforfarmers

-Entrepreneurshipguarantee(forlaid-offworkers)loans

-Consumptionloanstoregisteredpoverty-strickenpopulations

-Povertyalleviationloans

-LoanstoAgriculture,RuralAreasandFarmers,etc.

Affordable

Basic

Infrastructure

•Indemnificatoryhousingprogrammesuchaspublicrentalhousing(refertoAppendixIII)

•Basicrurallivingfacilities,suchasruralbiogas,developmentofpowergridsinruralarea,ruralgarbagecollectionandtreatment,etc.

Accessto

Essential

Services

(Including

Health,

Education,

CareerTraining,andHealth

care)

•Educationinfrastructureconstruction

•Medicalinfrastructureconstruction

•Careertrainingloan

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CCBwillidentifytherelevanttargetpopulation(s)oftheSocialProjects,andthatthedefinitionofthetargetpopulationmayvarydependingonthelocalcontextsandthat,insomecases,suchtargetpopulation(s)mayalsobeservedbyaddressingthegeneralpublic.Examplesoftargetpopulationsinclude,butnotlimitedto,thosethatare:

•Livingbelowthepovertyline

•Undereducated

•Peoplewithdisabilities

•Underserved,owningtoalackofqualityaccesstoessentialgoodsandservices

•Unemployedand/orworkersaffectedbyclimatetransition

•Women

•Agingpopulations

•Vulnerableyouth

•Othervulnerablegroupsasdefinedbynationalgovernmentorlocalauthorities

3.2Exclusions

ThefollowingsectorswillbeexcludedfromGreenandSocialEligibleCategories:

•SectorswhichareprohibitedbylawsandregulationinChina,suchasgamblingindustry,adultentertainment,childlabourandcorporationsinvolvedinillegalactivities

•Luxurysectorssuchaspreciousmetals,preciousartworks&antiques,golfcourseservices

•Distillation,rectificationandmixedalcoholicbeverages

•Productionoftobaccoandtobaccoproducts

•Hydropowerwithinstalledcapacity>20MW

•Biomasswhichissuitableforfoodsource

•Mining,quarryingandfossilfuelsrelatedassets

•Nuclearfuels

•Weaponsandammunitions

•Companiesoractivitiesinvolvedintheproduction,distributionorstorageofhazardouschemicalsandradioactivesubstances

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3.3ProjectEvaluationandSelection

GreenCreditandInclusiveFinance

Intermsofgreencredit,CCBformulateditsgreencreditdevelopmentstrategyin2016andthenestablishedaGreenCreditCommittee,whichisresponsibleforsettinggreencreditdevelopmentplans,formulatingrulesandpolicies,andtheresearch,discussionandcoordinationofrelatedbusinessdevelopment.

IntermsofInclusiveFinance,CCBestablishedanInclusiveFinancialDevelopmentCommitteein2017,whichisresponsibleforsettinginclusivefinancedevelopmentplans,formulatingrulesandpolicies,andtheresearch,discussionandcoordinationofrelatedbusinessdevelopment.In2018,anInclusiveFinancialStrategyPromotionLeadingGroupwasfurtherestablishedforthetop-leveldesign,overalllayout,coordination,planning,promotionandsupervisionofCCB'sInclusiveFinancestrategy.

EvaluationandSelectionofGreenandSocialProjects

1.GreenandSocialProjectsareproposedbythebusinesslinesandCCB’sdomesticandoverseasbranches.Forbondissuanceswithspecificthemes,theproposedprojectswillalsotakeintoconsiderationofthetheme’srequirement.

2.A“GSSBondWorkingGroup”(the“GSSBWG”)hasbeenestablishedandcomposedofrelevantdepartmentsoftheheadoffice,whichincludes:

•AssetandLiabilityManagementDepartment

•CreditManagementDepartment

•CorporateBankingDepartment

•StrategicClientsDepartment

•InclusiveFinanceDepartment

•InvestmentBankingDepartment

•PublicRelationsandCorporateCultureDepartment

•Otherrelevantdepartments

3.ProjectsproposedinthefirststeparereviewedbytheGSSBWGinaccordancewiththeGSSSBondFramework.Thespecificproceduresare:TheGSSBWGreviewsthepreliminarylistofGreen,Socialand/orspecificthemeProjectsproposedbythebusinesslinesanddomesticbranchesofCCB.TheGSSBWGwillselecttheEligibleGreenProjectsandEligibleSocialProjectsthatmeettheEligibilityCriteriaintheUseofProceedssectionundertheGSSSBondFrameworkofChinaConstructionBank,and

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bestreflectthecharacteristicsofCCB,byconsideringthefollowingfactors:

•whetherthetechnologyusedinGreenProjectsismoreadvancedthanotheravailabletechnologies

•thepreandpostcertificationfortheGreenProjects

•whethertheSocialProjectsprovideclearsocialbenefits

•whethertheGreenProjectsandSocialProjectscomplywiththedevelopmentpolicyandstrategyofCCB

•whetherthecharacteristicsofCCBarereflectedbytheGreenProjectsandSocialProjects

IfaprojectisidentifiedasEligibleProjectundertheGSSSBondFrameworkofChinaConstructionBankbytheGSSBWG,theprojectwillbe“marked”asEligibleGreenProjectorEligibleSocialProject.

4.Alistofprojectsfinancedby“GSSbonds”isestablishedtofacilitatebonddurationmanagement.TheGSSBWGisresponsibleforthebookkeepingandtrackingofeligibleprojectsandforensuringallinformationistrueandaccurateintheprocess.

5.TheGSSBWGreviewstheallocationoffundsraisedbyGSSbondsannuallytoensureappropriateallocationtoEligibleGreenandSocialProjects,andtoassistwiththepreparationfordisclosuresinannualreports.

3.4ManagementofProceeds

Theproceedsofeachbondwillbedepositedinthegeneralfundingaccounts.

CCBwillmaintainaregistertokeeptrackoftheuseofproceedsfromeachbond.Theregisterwillcontainthefollowinginformation:

3.4.1TypeofFundingTransaction:

Keyinformationincludestransactiondate,(net)amountofproceeds,maturitydate,coupon,typeofbond,pricingdateandtheISINnumber.

3.4.2Allocationofproceeds

•NameanddescriptionofEligibleProjectstowhichtheproceedsofGSSbondshavebeenallocatedinaccordancewiththeFramework

•AllocationoftheproceedsfromGSSbondstoEligibleProjects

•Thebalanceofunallocatedproceeds

•Useofunallocatedproceeds

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AnybalanceofissuanceproceedswhicharenotyetallocatedtoEligibleGreenandSocialProjectswillbeheldinaccordancewithCCB’snormalliquiditymanagementpolicy.CCBundertakesnottoinvestunallocatedproceedsinsectorssetoutin3.2Exclusions.

3.5Reporting

CCBwillpublishreportsontheuseofproceedsfromtheissuanceofGSSbonds,providingthefollowinginformation:

3.5.1AllocationReporting

CCBwillprovidethefollowinginformationforthenetproceedsofallGSSbondsduringtheperiod:

•TheaggregateamountallocatedtovariousEligibleProjects

•Theremainingbalanceoffundswhichhavenotyetbeenallocatedandtypeoftemporaryinvestment

•ExamplesofEligibleProjects(subjecttoconfidentialitydisclosures)

3.5.2ImpactReporting

Wherepossible,CCBwillreportontheenvironmentalandsocialimpactsoftheEligibleProjects.Forspecific-themebonds,CCBwillreportonthemechanismofthethemebondandtheimpactofthethemedEligibleProjects.

SubjecttothenatureofEligibleGreenandSocialProjectsandavailabilityofinformation,CCBaimstoproviderelevantinformationincluding,butnotlimitedto,thefollowing:

CategoryofEligibleGreenandSocial

Projects

ImpactIndicators

RenewableEnergy

•Neton-gridgeneration

•Tonnesofgreenhousegasemissionsreduced

EnergyEfficiency

•Energysavedbasedonnationalstandards

Pollution

Preventionand

ControlandWasteManagement

•Amountofexhaustgastreated,andconcentrationofsulphurdioxide,nitrogenoxidesanddust

•Amountofhazardouswastetreatedannually

•Amountofsludgewastetreatedannually

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•Amountofblackandodorouswatertreated,areaofminelandreclamationandecologicalrestoration,contaminatedsoiltreatedandrestored(insquaremeters)

Clean

Transportation

•Numberofpassengerscarried/amountofgoodscarried

•Tonnesofgreenhousegasemissionsreduced

SustainableWaterandWastewaterManagement

•Amountofwastewatertreated,andconcentrationofCODandammonia-nitrogen

•Amountofwatersaved

•Amountofdesalinatedseawater

•Amountofcitywaternetworkbuilt

•Lengthofriverregulatedand/orarearestored

GreenBuildings

•Typeofgreenbuildingcertificationsobtained

•NumberofGreenbuildingcertificationobtained•Amountofenergysaved(MW)

Environmentally

Sustainable

Managementof

LivingNatural

ResourcesandLandUse

•Sizeofafforestationarea

•Numberoffloodpreventionfacilitiesbuilt

•Numberofspeciesprotected

•Amountofeachspeciesprotected

•Sizeofnaturalprotectionarea

•Numberandspeciesofwildlifeprotected

•Typeandnumberofcertifiedsustainablefisheries

Terrestrialand

AquaticBiodiversityConservation

•Areaofenvironmentalprotection,treatmentand

restorationinrelationtothesea,coastlineandcoastalarea

•Numberofaquaticanimalspeciesrestoredorincreased

Employment

GenerationthroughthePotentialEffectofSMEFinancing

andMicrofinance

•Numberofcompanies/individualsbenefitted

•Numberofjobscreated

•Number,genderandtypeofdisadvantageouscommunitybenefitted

•Amountofcreditdistributed

AffordableHousing

•Amountofcreditdistributed

•Numberoffamiliesbenefitted

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AffordableBasicInfrastructure

•Amountofmethanecollectedinruralarea

•Amountofelectricityprovidedinruralarea

•Amountofwastecollectedandtreatedinruralarea

AccesstoEssentialServices(IncludingHealth,Education,CareerTraining,

andHealthcare)

•Numberofstudentsbenefittedfromthestudentloans

•Numberofpeoplebenefittedfromcareertraining

•Amountofcreditdistributed,suchasamountofloansforhealthcareinfrastructure

TheGSSBondReportwillbeupdatedannuallyandmadeavailableonCCB’swebsite(

).

3.6ExternalReview

CCBwillobtainanexternalreviewofallGSSbondsfromathirdpartywhichhasenvironmentalandsocialbenefitreviewexpertiseandauditqualification.Externalreviewwillcoverpre-issuanceassurance,post-issuanceassuranceandassurancereportofindependentaccountantsonuseofproceedsannually.Externalreviewresultswillbeavailableat(

).

4.Sustainability-LinkedBonds

Theissuanceofsustainability-linkedbonds(SLB)underthisFrameworkshallbeinlinewithICMA’sSustainability-LinkedBondPrinciples(SLBP),includingthefollowingspecificrequirements:

4.1SelectionofKeyPerformanceIndicators(KPIs)

WhenissuingeachSLB,CCBwilldefinetheKPIswhichwillbeselectedaccordingtoCCB’sprevailingsustainabledevelopmentstrategy.CCBendeavourstoselectEnvironmentaland/orSocialKPIswhichareincludedinsustainabilityreportsand/orannualreportsandverifiedexternallyforthre