Green financial standards are neither unified nor perfect in Asia or the rest of the world for that matter, but this has done nothing to deter Asian issuance of green debt.
For instance, ICBC, one of China's Big Four state-owned banks, recently said that it plans to raise a green term loan facility worth up to $400 million in US dollars and sterling. ICBC is the first Chinese bank to secure a green loan which complies with the Green Loan Principles which were jointly launched by the European and Asia Pacific Loan Market Associations in March last year. Both organisations promote best practices for syndicated loans.
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