#1 cleantech news, reviews, & analysis site in the world. Subscribe today. The future is now.


Green Economy

Published on January 25th, 2016 | by Saurabh

0

Two Chinese Banks Set To Issue Green Bonds Worth $15 Billion

January 25th, 2016 by  



The green bonds market in China is set to grow significantly as the government there has given the go-ahead to two banks to launch huge issues.

The China Industrial Bank and Shanghai Pudong Development Bank will soon issue green bonds worth 50 billion Yuan (US$7.6 billion) each, after winning approvals for the same from the Chinese Government.

These green bond issues will be the first such issues after the Chinese central bank announced a quota system for banks and financial institutions to float green bonds and raise up to 300 billion Yuan (over US$45 billion).

The green bonds market in China is very young, with the first bonds floated only last year receiving massive response from investors around the world. Wind energy firm Xinjiang Goldwind Science & Technology received investment interest worth US$1.4 billion for a US$300 million bonds issue.

The Agriculture Bank of China issued its first green bonds sale in London and raised around $1 billion, with the dual currency bonds to be listed on the London Stock Exchange.

China is expected to be among the leading economies to issue green bonds over the next few years. Following the trend of faster growth in renewable energy capacity addition in developing countries, the global green bonds market is also expected to see greater participation from developing economic like China and India, global credit rating agency Moody’s had said in report issued late last year.

 
 





 

Tags: , , , , ,


About the Author

An avid follower of latest developments in the Indian renewable energy sector.



Back to Top ↑