The scale of 744.5 billion yuan of green bonds issued during the year exceeded that of last year
Our reporter Bao Xing'an
Driven by the "dual carbon" strategy, my country's green bond market is accelerating expansion.
According to the statistics of Oriental Fortune Choice, as of November 23, the issuance scale of green bonds this year has reached 744.56 billion yuan, an increase of 46.5% over the same period last year, which has exceeded the issuance scale of last year; the number of issuances is 590, an increase over the same period of last year 13.7%, both the scale and number of issuance increased year-on-year.
You Xiaogang, senior investment advisor of Jufeng Investment Consulting, told the Securities Daily reporter that with the deepening of the concept of green and low-carbon development, the unification of green bond standards and the development of industry norms, the scale of green bond issuance will increase year by year.
More innovative varieties
In recent years, my country's green bond innovations have continued to increase, and the carbon-neutral bonds and sustainable development-linked bonds launched last year have been sought after by the market.
On May 20 this year, technology innovation corporate bonds were officially launched. As of November 23, a total of 3 green technology innovation bonds were issued, with a total issuance scale of 2.6 billion yuan.
For example, on May 26, Jiangsu Yonggang Group Co., Ltd. issued 100 million yuan of green science and technology innovation bonds, and the funds raised will be used for the construction and operation of projects with green and technological innovation attributes and repayment of related project loans.
In addition, transformation bonds were launched in May this year. As of November 23, the scale of transformation bonds has exceeded 28 billion yuan.
Fang Yixiang, assistant general manager of the Green Finance Department of Orient Jincheng, told a reporter from the Securities Daily that under the "dual carbon" strategy, the scale of my country's green bond issuance has continued to increase this year, the green bond market has continued to expand, and innovative varieties have continued to increase. Allocate resources to green fields and support the low-carbon transformation of traditional industries.
In terms of issuance costs, green bonds still maintain an overall advantage.
"Innovative varieties of green bonds have been launched continuously, accurately and effectively meeting the financing needs of relevant enterprises in the process of low-carbon transformation." You Xiaogang said.
It is worth mentioning that on November 15, OCBC Wing Hang Bank (China) Co., Ltd. successfully issued the first green financial bond of a foreign bank in the interbank market, with a scale of 500 million yuan and an issue rate of 3.24%. To support the green industry projects stipulated in the "Green Bond Support Project Catalogue" (2021 Edition).
Fang Yixiang said that the active participation of foreign-funded institutions reflects that they agree with China's green and low-carbon financial development strategy, integrate their own business development with China's green industry development, carbon emission reduction practices, and green economic transformation practices, and actively provide green financial solutions.
The issuance of green financial bonds by foreign-funded banks will not only help them broaden their funding channels and optimize their asset-liability structure, but also support more green industry projects and promote the sustainable development of related businesses.
"The participation of foreign banks can also convey to the international community that China attaches great importance to low-carbon development and green transformation and its determination to continue to promote related strategies. It is also conducive to playing the role of foreign banks as a bridge to connect green investment and financing in China and the world The platform actively supports China's green and low-carbon development, and promotes and deepens international cooperation in the field of sustainable development." Fang Yi added.
Large market development space
On November 23, the "Blue Book of China's Listed Companies: Development Report of China's Listed Companies (2022)" jointly released by the Institute of Economics of the Chinese Academy of Social Sciences, the Listed Company Research Center of the Chinese Academy of Social Sciences, and Social Sciences Literature Publishing House proposed that although my country's green bonds are currently The scale of issuance is expanding rapidly, but the proportion of labeled green bonds in my country's overall bond market is still small, less than 2%, and there is a lot of room for growth.
Looking into the future, China still needs a larger green bond market to support the achievement of the "double carbon" goal, and will continue to align with the international standards in terms of green bonds, and introduce more international standards to further expand the green bond market.
Fang Yixiang expressed that it is necessary to further strengthen policy support and improve the incentive and restraint mechanism of the green bond market.
Although the central bank has incorporated indicators such as green bond underwriting and investment into the assessment mechanism of the macro-prudential assessment system, and some local governments have also introduced green bond interest discount policies, overall, it is still necessary to continue to improve the convenience of issuance and expand the coverage of preferential policies Scope; on the investment side, more preferential policies can be given through tax reduction, risk compensation, risk weight adjustment, etc., to increase the enthusiasm of green bond issuers and investors to participate in the green bond market.
Fang Yi also suggested to actively promote the integration of China's green bond market with international standards.
Following the principle of "domestic unification and international integration", the Green Bond Standards Committee issued the "China Green Bond Principles", which initially unified the domestic green bond market standards, realized the integration of domestic standards and international standards, and greatly facilitated domestic and foreign capital investment my country's green industry is developing.
In the future, we can continue to work hard on the applicable standards of green bonds. Based on the new version of the catalog, we will combine the China-Europe "Common Sustainable Finance Classification Catalog" and CBI and other standard systems to make China's green bonds more fully developed and further accepted and recognized by the international market. .
You Xiaogang said that in the future, it is necessary to further refine the use of funds raised by green bonds, improve the information disclosure system, and better help achieve the "double carbon" goal.
(Securities Daily)