DNV provides Second Party Opinion on State Grid International Development Co., Ltd's Green Finance Framework

September 2025 - DNV, a leading global independent assurance and risk management provider, today announced that it has been commissioned by State Grid International Development (SGID) to provide a Second Party Opinion (SPO) on its updated Green Finance Framework.

 

SGID, a wholly-owned subsidiary of State Grid Corporation of China (“SGCC”), is responsible for SGCC’s overseas investment and operation of energy assets. SGCC supplies power to 1.1 billion population covering 88% of Chinese territory including 26 provinces (autonomous regions and municipalities). As the operating arm of SGCC's international business, SGID is dedicated to building a clean, low-carbon, safe, and efficient energy system and actively supports the global transition to green energy. On March 1st, 2021, SGCC released the “Carbon Peaking and Carbon Neutrality” Action Plan. SGID follows and abides by the vision, mission and values of sustainable development set by SGCC, striving to maximize synergy for green energy transition, and focusing on green and low-carbon investment in international cooperation projects. To support its commitment towards sustainability, SGID has updated the Green Finance Framework (“Framework”) which aims to mobilize capital to the eligible green project categories.

DNV’s independent assessment concluded that the framework is aligned with the Green Bond Principles (GBP 2025) issued by the International Capital Market Association (ICMA), as well as the Green Loan Principles (GLP 2025) jointly published by the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA), and the Asia Pacific Loan Market Association (APLMA). 

According to the framework, SGID will issue green financing instruments, including green bonds (public or private), green loans or any other debt-like green instruments in the offshore market to invest in or refinance seven eligible green categories, including:

 

 

As a recognised organization with longstanding expertise in sustainable finance and the green bond market, DNV creates value for its clients through independence, transparency and international methodologies. Looking ahead, DNV will continue to leverage its deep expertise in green finance and sustainability verification to support global efforts towards a low-carbon future. We remain committed to enhancing transparency and credibility in sustainable financing, while actively contributing to climate goals and the United Nations Sustainable Development Goals. Through innovation and collaboration, we strive to foster a more resilient and sustainable world for generations to come.