DeHeng Advised on the Establishment

of China's First Low-Carbon Industry Fund with Green Certification

2021-12-07

On December 3, 2021, the SPIC Clean Energy Fund Management Co., Ltd., a subsidiary of State Power Investment Corporation Limited (SPIC), established the Phase-I Carbon Neutrality Equity Investment Fund with a scale of RMB 9.5 billion. On the same day, the SPIC Clean Energy Fund Management and CCXGF held a green certification awarding ceremony in Beijing, and released the jointly-developed evaluation system for green funds and green fund managers. The SPIC Clean Energy Fund Management was certified by CCXGF with the highest grade (Ge-1), making it the first fund management company in China to obtain green entity certification. The Carbon Neutrality Fund was certified by CCXGF with the highest grade (G-1), making it the first green and low-carbon industry investment fund in China with green certification.

Hired by the SPIC Clean Energy Fund Management as the legal counsel for the deal, the DeHeng team, including partner Huang Huazhen and lawyer Wang Guibin, participated in business negotiations with insurers, modified contracts, prepared legal opinions, demonstrated difficult legal issues and prepared transaction documents that met the demands of both parties, and won high praise from the client for their high-quality and professional services. DeHeng, as the perennial legal counsel for the SPIC Clean Energy Fund Management, will continue to contribute to the development of green and low-carbon financial products and services.

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