China sees sharp rise in green bonds
Issuance more than doubled in 2021 but remains well below level needed to finance the country’s transition
China is embracing green finance to fund its decades-long transition to a net-zero economy, with green bond issuance more than doubling last year. But the amount of capital remains far from the scale needed to meet the multitrillion-dollar cost of the transformation. Green bond issuance in China—the world’s biggest emitter of greenhouse gases—surged in 2021, growing by 124pc year-on-year to 488 bonds, according to Dagong Global Credit, one of China’s largest debt rating agencies. The total value of these bonds rose by 176pc, to RMB608bn ($96bn). On top of this, 15 provinces and municipalities across the country issued RMB201bn of green bonds last year. Some 47pc went to the clean energy sect
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology