As pollution in China’s main urban areas reaches crisis point, domestic companies have been increasingly issuing green bonds to finance restorative measures. Now they are looking to tap more overseas investors, but they will find the latter group more exacting in their investment criteria than local players.
A green bond is an instrument from which the proceeds will be exclusively used to finance green projects, according to guidelines set by the London-based International Capital Markets Association.
What really started out as a market for supranational issuers such as the World Bank or its private-sector arm, the International Finance Corporation IFC has evolved to the point where there...
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