Yesterday’s $1 billion green bond listing by
Agricultural Bank of China (ABC) is an encouraging sign for the
PRC government’s push into the budding asset
A number of national reforms are making country an unlikely
leader in the global green bond movement.
ABC's is the first green bond from a Chinese bank and the
first cross-border CNY issuance. The dual-currency notes were
four times oversubscribed; the RMB portion was eight times
While in the US and Europe green bonds have been market-led
initiatives, China is taking a top-down approach. In April the
State Council announced its intention to develop a green
finance system, and the Green Finance Committee –
a group of senior regulators and finance professionals
– will soon issue green bond guidelines.
"We want to promote the formation of international green
bond market rules, such as definitions, so as to facilitate
cross-border green investment,"...