Zhong Guo Shi Pin Wang·2025-12-18 09:02Core Viewpoint - The dairy industry is undergoing a significant low-carbon transformation, which is essential for its high-quality development and has a profound impact on global dairy emissions reduction efforts. China's dairy sector is becoming a key player in driving the global dairy value chain towards a low-carbon future [1]. Group 1: Industry Transformation and Challenges - The dairy industry faces unprecedented transformation pressures under the "dual carbon" goals, with over 90% of emissions originating from the supply chain, making collaborative carbon reduction across the entire industry chain crucial [1]. - For Mengniu, its extensive supply chain network, which includes farms, suppliers, and logistics partners, generates significant "Scope 3" emissions, posing a core challenge to achieving its strategic goals of carbon peaking by 2030 and carbon neutrality by 2050 [3]. Group 2: Financial Solutions and Innovations - Standard Chartered Bank and Mengniu Group have collaborated to implement a sustainable financial practice, successfully issuing a sustainable offshore RMB bond totaling 3.5 billion RMB, marking a significant step in aligning China's dairy industry with international standards [1][4]. - The issuance of the sustainable bond was supported by a sustainable development financing framework that meets international standards, ensuring funds are directed towards key carbon reduction projects [5]. Group 3: Market Response and Impact - The bond issuance received overwhelming interest, with total orders reaching approximately 39.9 billion RMB, resulting in a subscription multiple of over 11 times, setting records for the lowest interest rates and largest issuance scale for Chinese dairy companies in the offshore RMB bond market [9]. - The final interest rates were set at 2.000% for the 5-year bond and 2.300% for the 10-year bond, establishing a new pricing benchmark for Chinese companies seeking sustainable financing in offshore markets [9]. Group 4: Future Outlook and Collaboration - The successful issuance of the sustainable bond is a critical step for Mengniu in shaping a globally influential sustainable brand image and driving collaborative carbon reduction across its supply chain [10][13]. - As the "dual carbon" goals advance, more companies are expected to accelerate their green transformations, with international financial institutions like Standard Chartered playing a key role in supporting these efforts [13].