Chinese green bond issuance up 14% in H1

H1 2018 Chinese issuance. Taken from report at www.climatebonds.net.

August 1 (Renewables Now) - Green bond issuance from China reached USD 13 billion (EUR 11.1bn) in the first half (H1) of 2018, up by 14% from a year earlier, and a large portion of that is going for renewable energy.

The total issuance that meets international definitions stands at USD 9.29 billion, according to the Climate Bonds Initiative’s China Green Bond Market Mid-Year Report. Of the total proceeds, USD 3.4 billion or 36% will be allocated to renewable energy, including wind and solar projects.

Low-carbon transport is next with a 30% share of proceeds.

In the period, financial corporates’ issuance were responsible for 44% of the USD 13 billion of green bonds. Industrial and Commercial Bank of China (ICBC) and Bank of China are the largest issuers in that category. The Climate Bonds Initiative noted that ICBC (London)'s Certified Climate Bonds are backed by a number of onshore wind and solar parks in China and in Pakistan, and also by the 588-MW Beatrice offshore wind farm in Scotland.

Non-financial corporates accounted for 32% of the H1 total. This list includes repeat issuers such as CGN Wind and Century Concord Wind Power and debut green bonds by Suntien Green Energy, wind turbine maker Envision Energy and Ming Yang Smart Energy, the proceeds of which will support wind projects or turbine manufacturing.

The full report is available at https://www.climatebonds.net/files/files/China%202018%20H1%20Report_EN%20final%281%29.pdf.

(USD 1 = EUR 0.85)

More stories to explore
Share this story
Newsletter
Tags
 
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\