Connect with us

Hi, what are you looking for?

CleanTechnica

Green Economy

Bank of Qingdao Issues $1.2 Billion Green Bonds

Chinese banks are making a beeline for issuing green bonds after the country’s central bank allowed banks and financial institutions to do so last year.

Bank of Qingdao recently announced at a press conference that is launching a green bonds issue worth 8 billion yuan (over US$1.2 billion). The press release issued by the bank did not give further details of the bond issue.

Proceeds from the bonds issue will be used to finance 26 projects already shortlisted by the bank. These include projects aimed at energy conservation, pollution control, clean transportation, adaptation, industrial energy efficiency, and environmental protection.

Recently, the Industrial & Commercial Bank of China (ICBC) also announced plans to launch green bonds. Officials of the bank have, however, did not announce the possible size or timing of the green bonds issue.

The Chinese central bank has set a quota system for banks and financial institutions to raise up to 300 billion yuan (over $45 billion).

Chinese companies and banks issued around $1 billion worth of green bonds in 2015 and this figure is expected to balloon tremendously this year.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

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

Comments

You May Also Like

Batteries

When it comes to electric vehicles and the Inflation Reduction Act of 2022, almost all of the discussion has been around the consumer tax...

Cars

Plugin vehicles continue to be all the rage in the Chinese auto market. Plugins stayed in the fast lane in August, growing 92% year...

Cars

A company that is answering the call for EVs in various segments people have been crying for and doing it in a big way...

Cars

I recently wrote about all of the fantabulous features of the new XPeng G9, but that was before it was fully launched. It was...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.