China has implemented a multi-tiered green finance market system, with outstanding green loans and bonds among the highest in the world, according to the country’s central bank.
The country’s outstanding green loans in yuan and foreign currencies exceeded 25 trillion yuan (about 3.52 trillion dollars) at the end of the first quarter of this year, while its outstanding green bonds exceeded 1.5 trillion yuan, data showed the People’s Bank of China (the central bank). Yi Gang, governor of the bank, stressed the important role of green finance, saying the country’s goals of peaking carbon emissions and carbon neutrality will bring about changes in all aspects, including energy structure and people’s way of life.
In recent years, Yi said, the People’s Bank of China has redoubled its efforts to develop green finance, and these measures have yielded positive results.
Issuance of green bonds is expected to increase globally through 2023, as initiatives by major governments and transnational corporations boost sales, while other forms of debt linked to sustainability grow more slowly.
2023-06-11 22:04:03
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