Geely Automobile Holdings Limited receives second party opinion for its Sustainable Finance Framework from international authoritative capital market firm | Automotive World

Geely Vehicle Holdings Restricted (“Geely Auto”) introduced that it has printed its Sustainable Finance Framework (the “Framework”) and has obtained a second celebration opinion from Sustainalytics, a global authoritative capital market agency on Environmental, Social and Governance (ESG) scores and analysis. The Framework covers Geely Auto’s future issuance of inexperienced, social and sustainability bonds, loans, amongst different financing devices. The publication of the Framework will assist Geely Auto acquire applicable financing preparations for its sustainable growth tasks, obtain its dedication to sustainable growth, and align its financing technique with world finest practices in ESG debt issuance. As well as, sustainable finance will additional improve Geely Auto’s financing effectivity, cut back debt financing prices, broaden diversified financing channels, and allow Geely Auto to repeatedly preserve its benefits in financing classes and prices.

The eight eligible classes for using proceeds beneath the Framework embrace Inexperienced Initiatives and Social Initiatives akin to Clear Transportation and Renewable Vitality. The diversified classes present Geely Auto with larger flexibility in using future proceeds from sustainable financing devices.

Sustainalytics is of the opinion that the Geely Vehicle Holdings Restricted’s Sustainable Finance Framework is credible and impactful and aligns with the Sustainability Bond Tips 2021, Inexperienced Bond Ideas 2021, Social Bond Ideas 2021, Inexperienced Mortgage Ideas 2021, and Social Mortgage Ideas 2021. Geely Auto has formally grow to be one among China’s main vehicle producers within the development of sustainable finance practices. As well as, the Framework will assist Geely Auto obtain its imaginative and prescient and objectives in ESG.

Geely Auto continues its methods for sustainable growth and actively contributes to addressing local weather change and different main ESG points. With 2020 because the baseline, Geely Auto plans to scale back life cycle carbon emission per automobile by no less than 25% by 2025, and commits to reaching carbon neutrality by 2045. Geely Auto has additionally been chosen as constituent of the “Cling Seng ESG 50 Index”, the “Cling Seng Company Sustainability Benchmark Index” and “FTSE4Good Index Sequence”.

SOURCE: Geely