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BEIJING, Oct. 25 (Xinhua) -- China had the leading share of global green bonds issued in the third quarter of the year, according to international rating firm Moody's latest report.
Moody's Investors Service pointed out that global green bonds volume reached another peak during the third quarter, with the strongest ever quarterly issuance, about 26.1 billion U.S. dollars.
Significant issuances from Chinese banks marked a return of the pattern observed in the first quarter, leading China to account for 44 percent of global issuances.
With very strong first and third quarters, Chinese issuers led issuances in 2016 with 32 percent of total volume at 63.2 billion U.S. dollars in the first nine months of the year, followed by U.S.-based issuers and supranational development banks, the report showed.
China released guidelines in late August to establish a sound green finance mechanism, encouraging green bonds and other financial products.
The country also included green finance on the G20 agenda for the first time in history.
Due to robust offerings from Chinese financial institutions in particular, full-year issuance could exceed 80 billion U.S. dollars, not far off a doubling of issuances in one year. Previously, it took nine years for there to be a doubling of green bonds issued, according to Moody's.
While still small in absolute terms, this development reinforces the acceleration in addressing climate change, which was also echoed in the speed the Paris Agreement on climate change came into force, Moody's said.
