19% of projects that are covered by Chinese local governments’ municipal bonds have the potential of being categorised as green’, with a bond issuance size totalling of Rmb824.2 billion $114 billion in 2021, according to a study from non-profit organisation Greenpeace.
Greenpeace looked into over 8,000 local projects funded by local municipal bonds in China in 2021, and compared them with frameworks listed out by the International Capital Markets Association’s ICMA Green Bond Principles and a Green Bond Endorsed Projects Catalogue issued by the People’s Bank of China PBOC.
Around 10% of the projects were identified as bearing high green potential’, meaning that all of the...
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