41819 - BGE Green Bond

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Investment Information

Project Number

41819

Company Name

Beijing GeoEnviron Engineering and Technology, Inc.

Date SPI Disclosed

Sep 11, 2019

Country

China

Region

East Asia and the Pacific

Projected Board Date

May 25, 2019

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Oct 10, 2025

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Jun 12, 2019
Signed : Aug 13, 2019
Invested : Aug 23, 2019

Sector

Waste to Energy - Waste

Project Description

Listed on the Shanghai Stock Exchange (“SHSE”), Beijing GeoEnviron Engineering and Technology, Inc. (“BGE” or the “Company”) is a technology-led enterprise specialized in environmental technology research and providing systematic solutions for pollution prevention and control. BGE’s three business lines include environmental remediation, city environmental services, as well as industrial environmental services.

BGE obtained regulatory approval to issue its first green bond with an amount of up to RMB1.2 billion (c. US$176 million) on the SHSE through a non-public offering (the “Green Bond”), and the Company has offered to allocate a tranche specific to IFC with an amount up to RMB410 million (c.US$60 million). IFC’s tranche of the Green Bond will follow the International Green Bond Principles (“I-GBP”). The proceeds of IFC’s tranche will be used to support construction of Puyang Waste-to-Energy (“WtE”) project.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	119.20
Equity

Development Impact

1. Stakeholder Effect: IFC funding will be used to support construction of the first WtE project in Puyang city of Henan province, a low tiered city in China with GDP per capita below national and provincial levels. 2. Environmental and social (E&S) effects: The Project has E&S benefits deriving from more sustainable waste management and increased renewable energy capacity. 3. Competitiveness: IFC expects the Project to contribute to improving private sector participation in the sector through supporting the expansion of a recent entrant to the market and to demonstrate to other private players the opportunities and feasibility of operating in the WtE market in lower-tier cities in China. 4. Integration: The Project is expected to support financial integration for the sector through demonstration channels for other WtE projects to utilize green bonds especially those that are I-GBP compliant with higher standards than local green bond standards in China.

1. Financing structure: While the Chinese green bond market has considerably grown in the recent past, most proceeds have been directed to renewable energy and low carbon transport projects and issuances have been dominated by SOEs, large commercial banks and policy banks. Limited funding from the green bond market has gone into the waste sector. IFC will provide valuable guidance and input to help BGE successfully issue its first green bond aligned with I-GBP, leveraging its track record in the green bond market as an issuer and an investor. 2. As a mid-tier private owned company originally focusing on providing EPC services, BGE has difficulties borrowing long-term corporate loans from domestic banks. IFC will provide long-term local currency financing in a meaningful amount that will be the Company's first ever financing raised with an international investor. 3. Standard-setting: IFC will provide technical support and guidance to help strengthen the Company's capacity to manage E&S risks associated with the Project through the implementation of the IFC Performance Standards. As the Company expands and considers acquisitions, IFC will ensure the adoption of measures including putting in place a relevant procedure for the screening and assessment of E&S risks to maintain the capacity of the Company and upgrading supervision measures over its subsidiaries in various waste management businesses.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Human Resources Policies and Procedures(%)	Human Resources Policies and Procedures(%)	Not Available	Not Available	Not Available
Occupational Health and Safety(%)	Occupational Health and Safety(%)	Not Available	Not Available	Not Available
Direct Employment (#) - Operations and Maintenance	Employment (#)	Not Available	Not Available	Not Available
Female Direct Employment (#) - Operations and Maintenance	Female Employment (#)	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The proposed Puyang WtE project is located in an existing waste management industry park. The WtE facility will be designed according to European Union (EU) standards. The predicted air emissions and stormwater discharged will meet both local regulatory requirements and World Bank Group (WBG) EHS Guidelines. The contaminated water from the process areas and leachate from waste storage will be treated and recycled as production water. Waste will be transported using the existing transportation route for the industry park, which have been approved by the authorities.

Mitigation measures for the potential E&S impacts have been identified in the design and in the relevant E&S assessments prepared by the company. The potential adverse E&S impacts of this project for both construction and operations phases are considered few in number, of limited significance and readily mitigated through the company’s existing robust systems and procedures and the pollution prevention and control measures included in the design. This is therefore a Category B project according to IFC’s Policy on Environmental and Social Sustainability.

Contacts

For Inquiries About the Project, Contact

Beijing GeoEnviron Engineering and Technology, Inc.
Xiujiao Wu
CFO
(86) 10 62490000
wuxj@bgechina.cn
BGE Plaza, No.9 Zhong Guan Cun Environmental Technology Park, Dijin Road, Haidian District, Beijing, China
www.bgechina.cn

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

Contact Person: Xu Chaojiang

Company Name: Beijing GeoEnviron Engineering & Technology, Inc

Address: BGE Plaza, No.9 Zhong Guan Cun Environmental Technology Park, Dijin Road, Haidian District, Beijing, China

Email: xuchaojiang@bgechina.cn

Phone: (86) 10 62490098

Facsimile: (86) 10 88233169

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation

Similar Projects

Contacts

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

IFC's Investment as Approved by the Board

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

Governance Risk Assessment

IFC's Role and Additionality

Development Results

E&S Category Rationale / Risks and Mitigation

Environmental & Social Categorization Rationale

Environmental & Social Management System (ESMS)

Mitigation Measures / Environmental & Social Action Plan (ESAP)

Press-Release

Related Environmental Document

Similar Projects

Contacts

Disclaimer