Green Bond Issuance in China Logs Rapid Growth

Beijing, June 20 (QNA) - China's green bond issuance saw robust growth this year amid the country's push to reduce carbon emissions and advance green development.
As of June 9, the country had issued green bonds worth 361.56 billion yuan about ($54.03 billion) in 2022, jumping 73.72% over the previous year, data from the Chinese financial information provider Tonghuashun shows.
By the end of 2020, the value of China's outstanding green bonds hit 813.2 billion yuan, the second highest in the world.
At present, the funds raised through green bonds are widely used in green development projects in such fields as clean energy, green transportation, pollution prevention and control and climate change response, Zhang Lichao with Guosen Securities in China said.
A green bond is a debt security that is issued to raise capital specifically to support climate-related or environmental projects.
Among the most important projects for which green bond can be issued for financing are renewable energy, energy efficiency, sustainable waste management, sustainable land use, clean transportation, sustainable water management, climate change adaptation and new cities. (QNA)