Green Finance Committee Annual Conference Backdrop for Latest Policy Papers
Beijing Gathering of Green Policy Makers for New Climate Bonds Reports
What’s it all about?
Climate Bonds and the International Institute for Sustainable Development (IISD) have launched the first three of their China Roadmap 2016 series of reports.
Published in both English and Mandarin, the China Roadmap 2016 reports set detailed policy options for China’s green bond market expansion over the coming years.
Three Roadmaps were launched at the Green Finance Committee annual conference in Beijing. Hosted by the Green Finance Committee, the ICBC and the Chongyang Institute for Financial Studies, the Beijing conference is the foremost annual gathering of green finance policy makers and regulators in China.
What do the Reports Cover?
The China Roadmap series outlines a detailed range of policy options and potential opportunities for the development of green bond market structures, practices and growth in China.
Green Bond Guidelines for the Next Stage of Market Growth:
Sets directions for the further development of green bond guidelines in the Chinese domestic market with the aim of increasing harmonisation with international practice.
Available in English and Mandarin.
Scaling up Green Bond Market Issuance:
Outlines measures to scale up the issuance of green bonds in the domestic market, develop the overseas RMB denominated market and addresses current challenges that limit green bond issuance.
Available in English and Mandarin.
Green Securitisation, Tax Incentives and Credit Enhancements to Scale Green Bonds:
Discusses options for widespread uptake of green bond issuance and financing of multiple projects.
Has a focus on the instruments that can diversify domestic issuance including green securitisation, tax incentives and credit enhancement.
Available in English. Mandarin version pending.
English and Mandarin versions will be available on release.
The China Roadmap 2016 series is supported by the UK Foreign & Commonwealth Office (FCO).
Who’s saying what?
CEO Climate Bonds, Sean Kidney:
“China is steadily progressing its green finance systems. This China Roadmap series is designed to give policy makers options and directions that will support rapid and sustainable growth in both domestic and international green bonds markets.”
“They are an indicator of the enormous potential for Chinese green bond development and its global implications for markets and institutional investors.”
“Climate Bonds Initiative has long recognised the role that green bonds can play in China. Producing Chinese language versions of the China Roadmap series report reflects our commitment to help develop a sustainable green bond market as part of China’s environmental and climate directions and green finance reforms. “
Mr Chen Yulu, Vice president of PBoC:
"The rapid economic growth achieved in the last decades has been reliant on coal-based energy consumption, road-based transportation and a carbon-intensive industrial structure.”
“Green finance is key to leveraging investment to power China's transition to a green and sustainable economy and enjoys huge potential and bright prospects."
The Last Word
An annual investment of at least RMB 2-4 trillion (USD 320-640 billion) is cited as being required to address Chinese environmental and climate change issues.
The Peoples Bank of China has made it clear that up to 90% of this capital will have to come from the private sector, scaling up the green bond markets represents a crucial development for China’s green transition.
The China Roadmap 2016 series is a further step in identifying the policy directions that will help achieve this transition.
Download the first three reports here.
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