Green Finance

China's outstanding green bonds reach 1.2 trillion yuan

Updated: Sep 29, 2022 By Zhou Lanxu Print
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China's outstanding green bonds stood at 1.2 trillion yuan ($167.4 billion) as of the end of June, ranking the second in the world, indicating the growing attractiveness and influence of China's green finance market, official data showed on Tuesday.

Meanwhile, the nation's outstanding green loans in the renminbi and foreign currencies reached 19.55 trillion yuan as of the end of June, up 40.4 percent year-on-year, the People's Bank of China, the country's central bank, said in an article on Tuesday.

The article said the carbon emission reduction facility and central bank lending for clean and efficient coal, two structural monetary tools the PBOC created to boost lending to low-carbon sectors, had supported financial institutions in issuing relevant loans worth 304.5 billion yuan and 43.9 billion yuan, respectively, as of the end of June.

The loans issued have led to reductions in carbon emissions equivalent to more than 60 million metric tons of carbon dioxide, according to the PBOC.

Looking ahead, the central bank will improve the country's standard system for green finance, deeply participate in international standard setting for the sector, and strengthen requirements for financial institutions in regard to carbon accounting and environment-relevant information disclosure, the article said.

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