Green Bonds Research
As the Chinese green bond market has expanded rapidly in recent years, demonstrating impressive ambition and demand for green financing in China, IIGF has conducted in-depth research regarding this particular green finance product.
IIGF Interpretation of the China Green Bond Principles
On 29 July 2022, the Green Bond Standard Committee released the China Green Bond Principles (referred to as the “Green Bond Principles”), which is a milestone in the development of China’s green bond market and an important symbol of China’s green bond standards achieving initial domestic unification and convergence with international standards. This article compares and analyses the similarities and differences among international green bond standards, such as the ICMA Green Bond Principles and the CBI Climate Bond Standard (2021 Edition), and makes further suggestions for the promotion and application of the Green Bond Principles and for the development of China’s green bond market.
Our report covers the key policy developments related to green bonds, recent market trends and the data on the volume, issuance and the structure of labelled and non-labelled bonds issued in China in 2021. We also analyzed the most influential innovation in the sustainable bond market such as sustainability linked bond, sustainability re-linked bond and carbon neutrality bond that were succesfully launched in the Chinese bond market last year.
The State and Effectiveness of the Green Bond Market in China
This report provides a comprehensive review of the Chinese green bond market. The analysis is based on an extensive primary data collection effort to track bond issuances, their use of proceeds and their environmental and climate impacts, including new data that has never
been published before. It also explores the development of the market from an economic and regulatory perspective and provides recommendations on how policymakers can support the market to continue its growth.
The report was prepared in cooperation with Climate Policy Initiative (CPI) with significant contribution from the IIGF.
MRV System Design:
Recommendations for
Chinese Green Bonds
This article is based on an in-depth review of Monitoring Reporting and Verification (MRV) practices in China. Robust monitoring, reporting, and verification (MRV) can increase the trust and effectiveness of green bonds. The paper reviewed the current regulations in China and compared them to internationally accepted principles, and provided recommendations on how the MRV system’s design can be strengthened to increase trust and effectiveness in the market.
The report was prepared in cooperation with Climate Policy Initiative (CPI) with significant contribution from the IIGF.
Bridging the Gap in Green Bond Standards Between China and the West
Differences between green finance ideologies in China and the West have become problematic. Due to the difference in green bond standards and issuance regulation, the definition of “green” is not the same.
This article summarizes a paper that aims to identify the major differences between China and the West and provide recommendations for the more coordinated development of the global green bond market.