Finance
China’s $113 Billion Green Bonds Caught in Jumble of Rules
- Outstanding amount of local, offshore notes ranks 2nd globally
- Definitions for such securities differ across regulators
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Fund managers are increasingly grappling with fragmented policies in China’s $113 billion green bond market that can make it hard to assess just how much of that money is going to projects to help the environment.
The country aims to be carbon neutral by 2060, a push that’s fueled a 248% jump in sales of green notes locally and offshore this year to $23 billion, a record for this point in a year. That leaves the total outstanding amount the second highest globally after France.