SHANGHAI (Reuters) – China overtook the United States to lead a boom in global green- bond issuance in the first quarter, but analysts said it needs to do more to draw investors to help fund President Xi Jinping’s estimated $21 trillion carbon neutrality pledge.
Pending tasks include raising investor awareness of the environment, harmonising fragmented rules and tackling ‘greenwashing’, or issuers’ efforts to inflate their green credentials, they said. At stake is Beijing’s goal of net zero carbon emissions by 2060.
Chinese issuers including banks, property developers, power generators and railway operators sold $15.7 billion of bonds during January-March period to fund ‘green’ projects such as clean and renewable energy, according to Refinitiv data.
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