Development banks to boost China green bonds

The boom in mainland China’s nascent green bond market is set to continue this year after deal volume ballooned in the first quarter, with mainland and multilateral development banks tipped to take the torch after a spate of jumbo issuances by commercial banks early in the year, according to the South China Morning Post. Of the first quarter’s US$16.6 billion, some US$7.49 billion – 45% – were issued in China. Global green bond issuance totalled US$16.6 billion in the first quarter of year, up 140% year on year according to financial markets data provider Dealogic. The boom will help diversify financing channels for companies and government entities seeking to fund green projects.