Vigeo Eiris has provided a second-party opinion on the sustainability credentials and management of Beijing Enterprises Holdings Limited’s Green Finance Framework.
Beijing Enterprises Holdings Limited (BEHL)’s wholly-owned subsidiary to issue EUR Denominated Green Bonds in September 2020 based on BEHL’s Green Finance Framework.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Green Finance Framework created by BEHL to government the issuances. The Framework includes two Eligible Green Project Categories, namely: Pollution Prevention and Control, and Sustainable Waste and Water Management.
Our opinion is that the Framework is aligned with the four core components of the Green Bond Principles (2018) and the Green Loan Principles (2020), and we expressed a moderate assurance (our medium level of assurance) on the contribution of the contemplated Green Finance Instruments to sustainability.
Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, the Americas and Asia. We were the 3rd biggest SPO provider in the market by number of deals in 2019 and are a Climate Bonds Standard Approved Verifier.
BEHL is an investment holding company mainly engaged in the distribution and sale of piped natural gas. The Company is also engaged in the provision of natural gas transmission, gas technology consultation and development services, the surveying and plotting of underground construction projects, the construction and installation of gas pipelines and related equipment and the provision of repairs and maintenance services. The Company also produces, distributes and sells brewery products. In addition, BEHL is also involved in water and environment business and solid waste management business, which accounted for 6% and 19% of its total assets respectively as of 2018. BEHL owns 100% of EEW Energy from Waste GmbH.
Additional terms for Hong Kong only: Any Second Party Opinion or other opinion that falls within the definition of “advising on securities” under the Hong Kong Securities and Futures Ordinance (“SFO”) is issued by Vigeo Eiris Hong Kong Limited, a company licensed by the Hong Kong Securities and Futures Commission to carry out the regulated activity of advising on securities in Hong Kong. This Second Party Opinion or other opinion that falls within the definition of “advising on securities” under the SFO is intended for distribution only to “professional investors” as defined in the SFO and the Hong Kong Securities and Futures (Professional Investors) Rules. This Second Party Opinion or other opinion must not be distributed to or used by persons who are not professional investors.