Check out the green bond issuers, trends and market developments of the world’s second largest green market
Our new China Green Bond Market Newsletter is now available with the latest bond issuance, market developments and updates.
Full versions in both English & Chinese can be found here.
In the first quarter, total green bond issuance from China went up to USD4.4bn (RMB28bn), a 50% increase year on year, bolstered by strong momentum from non-financial corporates and surge in offshore issuance, with issuers from a more diversified sector base. In addition to repeat green bond issuer Modern Land, Tianjin Rail Transit, Beijing Capital and Century Concord Wind Power issued their first offshore green bonds, raising USD1.6bn. 92% of issuance, that is aligned to international green definitions, received second party reviews.
In this edition, we take a closer look at the growing trend of Green Securitisation in China and provide three case studies of Chinese green ABS to showcase the variety of collateral and how it is used to secure the deals. The first Chinese green ABS were issued in 2016. To date, there have been 15 ABS deals totaling USD2.6bn. The proportion of green ABS increased from 1.7% of total green bond issuance in 2016 to 5.9% in 2017. However, green securitisations remain a small proportion of the green bond market, and the potential for growth is huge.
Read the full Quarterly Newsletter here.
We hope you’ll enjoy it!
'Till next time,
Climate Bonds Initiative
最新一期中国绿色债券市场季报现已发布，它介绍了近期绿色债券发行、市场发展与政策更新。
第一季度绿色债券发行的详细分类请参见季报全文。
2018年第一季度，来自中国发行人的绿色债券发行总量增至44亿美元，相比去年同期增长50%, 主要由于来自非金融企业的动力强劲，以及第一季度离岸发行量骤增，多样行业的发行人开始在离岸市场发行绿色债券。除了已发行过绿色债券的当代置业，包括天津轨道交通集团，首创集团及协合风电都发行了其首个离岸绿色债券，总募集资金达16亿美元。92%的符合国际绿色定义的发行拥有外部核查。
在本期季报中，我们探讨了中国绿色资产证券化市场，并提供了三只绿色ABS的结构和基础资产分析案例。第一只来自中国的绿色ABS在2016年发行。截止目前为止，已有15笔（合计26亿美元）的发行。绿色ABS在中国绿色债券市场占比也从2016年的1.7%增长到2017年的5.9%。然而绿色资产证券化市场在中国绿色债券市场中占有份额较小，但是其增长的潜力巨大。
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气候债券倡议组织
