To further promote the opening of China’s green bond market, and enhance the role of the Common Ground Taxonomy (CGT) in facilitating cross-border flows of green capital, the expert group convened by the Green Finance Committee (GFC) of China Society for Finance and Banking has undertaken the relabelling work for green bonds newly issued in China’s interbank market in December 2024 against the CGT.
9 green bonds supporting projects on climate mitigation have been newly identified as CGT-aligned, with a total scale of RMB 12.95 billion. Among these, 2 green bonds have already been aligned with the CGT during issuance. Each bond meets the specified technical requirements outlined in the Substantial Contribution Criteria of the CGT. The specific details are as follows:
Table 1: New Relabelled Green Bonds
|
Number
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
TONGWEI GN 24(009)(TIN)
|
5.00
|
|
2
|
THREE GORGES GN 24(009)(CARBON NEUTRAL BOND)
|
30.00
|
|
3
|
THREE GORGES GN 24(008)(CARBON NEUTRAL BOND)
|
20.00
|
|
4
|
THREE GORGES GN 24(007)(CARBON NEUTRAL BOND)
|
20.00
|
|
5
|
THREE GORGES GN 24(006)(CARBON NEUTRAL BOND)
|
20.00
|
|
6
|
DATANG SHANXI MTN 24(003) (GREEN)
|
5.00
|
|
7
|
JINKAI ENERGY GN 24(004)(CNB)
|
5.50
|
|
8
|
FUZHOU METRO GN 24(004)(CNB)
|
4.00
|
|
9
|
THREE GORGES GN 24(005)(CARBON NEUTRAL BOND)
|
20.00
|
In December 2024, 8 CGT-aligned Chinese outstanding green bonds were due. The specific details are as follows:
Table 2: Matured Relabelled Green Bonds
|
Number
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
KUNMING RAIL GN 21(004)
|
5.00
|
|
2
|
LONGYUAN POWER GN 21(002)
|
29.90
|
|
3
|
SHENZHEN METRO MTN 21(006)(CARBON NEUTRAL BOND)
|
20.00
|
|
4
|
SHENZHEN METRO MTN 21(007)(CARBON NEUTRAL BOND)
|
20.00
|
|
5
|
CDB BOND 2021 04
|
150.00
|
|
6
|
JINGNENG CLEAN ENERGY GN 21(002)
|
10.00
|
|
7
|
DONGFANG ELECTRIC MTN 21(003)(CARBON NEUTRAL BOND)
|
1.90
|
|
8
|
HUANENG JIANGSU MTN 21(001)(CARBON NEUTRAL BOND)
|
3.00
|
As of December 31, 2024, expert group has evaluated a total of 377 CGT-aligned Chinese green bonds traded in the interbank market, 245 of which remain in duration.
The Common Ground Taxonomy (CGT) aligned bond data published on this and other websites as part of China’s bond labeling work by the Expert Group convened by the Green Finance Committee of China Society for Finance and Banking is public information. The Expert Group welcomes all individuals and institutions to disseminate and use these data, and to develop indices, products and related services on the basis of these data.
Click here for the list of CGT aligned Chinese green bonds (January 2025 version)
