UK - China Collaboration on Growing a Global Green Bond Market report launched at The City of London G20 related Green Finance Media Roundtable

The Climate Bonds Initiative (CBI) and the UK Department of International Trade (DIT) launched the UK-China Collaboration on Growing a Global Green Bond Market report at the Green Finance Media Roundtable held by the City of London this morning. 

Following on from the G20 Hangzhou Summit Communiqué’s desire to “promote international collaboration to facilitate cross-border investment in green bonds”, increased UK-China collaboration could help speed up the growth of the global green bond market and the green aspects of the financial system.

 

Published in both English and Mandarin, the UK-China Collaboration on Growing a Global Green Bond Market report sets actions for UK-China collaboration to lead the development of the global green bond market, including:

  • Scaling up cross-border green bond issuance and investment between the UK and China;
  • Collaboration between London’s Green Finance Initiative and China’s Green Finance Committee (GFC) on market awareness activities;
  • Further research collaboration between BoE and PBoC in supporting green bond market development, building on the work by the G20 Green Finance Study Group;
  • Cooperation between Climate Bonds and China’s GFC towards creating a globally harmonized set of green definitions.

The report was prepared by Climate Bonds Initiative and the International Institute for Sustainable Development (IISD), together with the UK Department of International Trade.

 

It is one of the four Roadmap for China’s Green Bond Market 2016 reports. Our thanks to the United Kingdom foreign & Commonwealth office (FCO) for their project funding support for the China Roadmap series of reports.

 

Who’s saying what

Frederick Packham, Policy & Innovation Advisor, City of London:

“The UK and China are natural partners in the development of green financial markets, as demonstrated by their co-chairmanship of the G20’s Green Finance Study Group and listing of the world’s first renminbi-denominated green bonds here in London.

Further such cooperation will be essential if green finance is to become truly mainstream, and we welcome the Climate Bonds Initiative’s suggestion of greater collaboration between the City of London’s Green Finance Initiative and China’s Green Finance Committee.”

 

Sean Kidney, CEO, Climate Bonds Initiative:

“The UK and China are working together to develop the global green bond market, which drives the greening of the global financial system. This report sets specific actions for UK-China collaboration on further growing the green bond market and cross-border green investment.

It provides options for policymakers to take the next step under the framework of green finance development set up by the G20 Green Finance Study Group (GFSG) co-chaired by central banks in the UK and China.”

 

The Last Word

The UK and China are increasingly taking action on green bonds, as well as more broadly on developing green finance. The UK has emerged as the global hub for green finance and green bond issuance, while China has positioned itself as a global leader on green bond policy support.

A heightened level of co-operation between the two countries to share their respective experience with green bonds and harmonize specific actions in developing green bond markets would be of mutual benefit.

 

Disclaimer: The information contained in this communication does not constitute investment advice and the Climate Bonds Initiative is not an investment adviser. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites. The Climate Bonds Initiative is not advising on the merits or otherwise of any investment. A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind for investments any individual or organisation makes, nor for investments made by third parties on behalf of an individual or organisation.