Chinese regulators are close to releasing new 'green bond' standards t...
SHANGHAI - Chinese regulators are close to releasing new “green bond” standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters.
But China’s inclusion of “clean coal” in a 2015 central bank list of technologies eligible for green bonds has put the country at odds with global standards, a point of contention for some international investors and many environmental groups. “With no new coal projects taking money from the green bonds market, those funds can actually accelerate China’s energy transition and green development,” she said.
The PBOC’s revised criteria, however, would not apply to green “enterprise bonds”, which are regulated by the National Development and Reform Commission , the state planner, and are primarily issued by state-owned enterprises and unlisted companies. Industry experts say the two-tiered regulatory framework - one under the PBOC and one under the NDRC - means some coal-related projects could still issue green bonds, although access to the most active green finance markets would be restricted.
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