{"id":23204,"date":"2015-07-07T23:00:10","date_gmt":"2015-07-07T22:00:10","guid":{"rendered":"http:\/\/www.rtcc.org\/?p=23204"},"modified":"2015-07-08T09:09:46","modified_gmt":"2015-07-08T08:09:46","slug":"china-poised-for-a-boom-in-green-bonds","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2015\/07\/07\/china-poised-for-a-boom-in-green-bonds\/","title":{"rendered":"China poised for a boom in green bonds"},"content":{"rendered":"

Emerging economies are embracing new class of climate-friendly financial instruments, says Climate Bonds Initiative<\/strong><\/span><\/p>\n

\"Beijing

Beijing is ready to start raising cash for clean energy from the bond market\u00a0(Pic: Flickr\/Konrad)<\/p><\/div>\n

By Megan Darby<\/a><\/strong><\/p>\n

China is on the brink of a major green bonds push to finance clean energy and low carbon buildings.<\/strong><\/p>\n

By the end of 2015, the country is expected to issue US$4-5 billion worth of the kind of stable, predictable debt institutional investors like.<\/p>\n

That is the view of the Climate Bonds Initiative, an organisation seeking to mobilise the US$100 trillion-a-year global bond market to tackle climate change.<\/p>\n

\u201cThere is no doubt that China is the most exciting story,\u201d the initiative\u2019s chief Sean Kidney told RTCC.<\/p>\n

He was speaking ahead of Wednesday\u2019s State of the Market report launch in Frankfurt.<\/p>\n

It reveals a slow start to 2015 for bonds labelled \u201cgreen\u201d but bigger growth in unlabelled bonds that support climate-friendly activities, such as rail infrastructure.<\/p>\n

That broader category has grown 20% since last year to nearly US$600 billion, of which 70% was in low carbon transport.<\/p>\n

What is a green bond?<\/strong><\/span><\/p>\n

A bond is a way of raising finance. A government, bank or corporation borrows money for a fixed period of time. It pays the lender – which could be an individual or institutional investor like a pension fund – a fixed or variable interest rate each year.<\/p>\n

The global bond market is worth more than US$100 trillion.<\/p>\n

Green bonds are a relatively new phenomenon, created to channel this source of finance towards environmentally friendly projects.<\/p><\/blockquote>\n

\u201cThe fact they have increased rail bonds is fantastic news,\u201d said Kidney. \u201cThe problem is, it pales into insignificance compared to where we need to be.<\/p>\n

\u201cWe need to be at the trillion dollar level to feel like we are making serious progress on climate change.\u201d<\/p>\n

The CBI promotes classification of climate-friendly bonds to help investors channel their cash into projects with a genuine climate benefit.<\/p>\n

That either means cutting greenhouse gas emissions or making communities more resilient to the impacts of global warming.<\/p>\n

Blog:\u00a0<\/strong>Could green bonds offer a home for capital fleeing fossil fuels?<\/a><\/p>\n

At $18 billion, the volume of labelled green bonds issued in 2015 to date is about half what Kidney was hoping for.<\/p>\n

But developments in emerging markets \u201cfill us with cautious optimism for the coming year,\u201d he said.<\/p>\n

India has seen three green bonds come to market and CBI is aware of eight more in the pipeline. Food producer BRF was first for Brazil, issuing \u20ac500m<\/a>\u00a0worth of notes\u00a0in May.<\/p>\n

In April, China\u2019s central bank published policy proposals to support the growing financial trend. These included technical standards, tax incentives and measures to fast-track \u201cgreen\u201d issuances.<\/p>\n

That means banks are on the verge of raising cash to plough into sectors like renewable energy, nuclear and low carbon buildings.<\/p>\n","protected":false},"excerpt":{"rendered":"NEWS: Emerging economies are embracing new class of climate-friendly financial instruments, says Climate Bonds Initiative","protected":false},"author":12,"featured_media":19523,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[72,3863,208,3650,96],"tags":[230,11],"coauthors":[],"class_list":["post-23204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china","category-finance","category-climate-finance","category-green-bonds","category-india","tag-brazil","tag-featured","type-news"],"acf":[],"yoast_head":"\nChina poised for a boom in green bonds<\/title>\n<meta name=\"description\" content=\"NEWS: Emerging economies are embracing new class of climate-friendly 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