Agricultural Bank of China, the country's fourth-largest lender by market value, issued its first-ever green bond on Tuesday, raising almost $1 billion as part of a broader Beijing-orchestrated campaign to tackle pollution and promote renewable energy.
Asian issuance of so-called green bonds fixed-income instruments that are sold to help fund environmentally friendly projects is a fast-growing young market, buoyed mainly by Chinese and Indian companies. Prior to ABC's market debut $2.1 billion had been raised year-to-date from eight deals compared with $1.2 billion and four transactions across all of 2014, according to Dealogic.
ABC, which is rated A1AA,...
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