The $35 Trillion Sustainable Finance Market Gets Greater Clarity
- A China, EU taxonomy report is fueling expectations for growth
- Move may help China’s green bond market grow overseas: analyst
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A push to bring greater standardization to the global sustainable finance market worth more than $35 trillion by two of the world’s biggest economies is fueling expectations for further growth in the rapidly expanding sector.
China and the European Union released a report last week on how they classify sustainable financing amid ongoing efforts to simplify a jumble of standards and practices globally. The Common Ground Taxonomy was written by a working group co-chaired by the European Commission and China’s central bank, and details taxonomy efforts by 26 countries or groups of nations.