UK-CHINA COLLABORATION ON GROWING A GLOBAL GREEN BOND MARKET

The report outlines a strategic framework for UK-China cooperation to expand the global green bond market, identifying key challenges such as the lack of bankable projects and non-harmonised standards. It proposes specific actions, including scaling cross-border issuance, creating joint research programs between the Bank of England and the People's Bank of China, and developing globally harmonised green definitions. The document also highlights the role of the Climate Bonds Standard and Certification Scheme in providing the trust and assurance necessary for institutional investors to mobilise capital for low-carbon and climate-resilient infrastructure.

• The global green bond market has experienced rapid growth, with issuance increasing from USD 11 billion in 2013 to USD 41.8 billion in 2015, and estimates for 2016 ranging between USD 80 billion and USD 100 billion.
• China is a primary driver of market growth; in the first quarter of 2016, it accounted for 50% of total global green bond issuance, and its central bank expected RMB 300 billion (USD 45.6 billion) in issuance for the full year 2016.
• The UK, specifically London, serves as a global hub for green finance, attracting international issuances in various currencies, including the first RMB-denominated green bond from the Agriculture Bank of China in October 2015.
• Three primary challenges hinder the global green bond market: a limited pipeline of bankable green projects, a lack of commonly accepted standards for green credentials, and low awareness among issuers regarding the benefits and process of issuance.
• The report proposes several collaborative actions for the UK and China, including bilateral research between the Bank of England (BoE) and the People's Bank of China (PBoC) on central bank roles, and cooperation between the Climate Bonds Initiative, PBoC, and China’s Green Finance Committee to create globally harmonised green definitions.
• The Climate Bonds Standard and Certification Scheme is the only global certification scheme, providing a Climate Science Framework to ensure funds deliver a low-carbon and climate-resilient economy; as of May 2016, it had been used by USD 6 billion of green bonds.

APA

(Lily), W. D., Kidney, S., & Sonerud, B. (2016). UK-CHINA COLLABORATION ON GROWING A GLOBAL GREEN BOND MARKET. Climate Bonds Initiative. https://web.archive.org/web/20241214202533/https://www.climatebonds.net/files/files/-CBI-IISD-China%20Roadmap%20Paper4-EN.pdf

Chicago

(Lily), Weihui Dai, Sean Kidney, and Beate Sonerud. UK-CHINA COLLABORATION ON GROWING A GLOBAL GREEN BOND MARKET. Climate Bonds Initiative, 2016. https://web.archive.org/web/20241214202533/https://www.climatebonds.net/files/files/-CBI-IISD-China%20Roadmap%20Paper4-EN.pdf.

Wikipedia

{{cite report |last1=(Lily) |first1=Weihui Dai |last2=Kidney |first2=Sean |last3=Sonerud |first3=Beate |title=UK-CHINA COLLABORATION ON GROWING A GLOBAL GREEN BOND MARKET |publisher=Climate Bonds Initiative |date=September 2016 |url=https://web.archive.org/web/20241214202533/https://www.climatebonds.net/files/files/-CBI-IISD-China%20Roadmap%20Paper4-EN.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{lily2016ukchina, author = {(Lily), Weihui Dai and Kidney, Sean and Sonerud, Beate}, title = {{UK-CHINA COLLABORATION ON GROWING A GLOBAL GREEN BOND MARKET}}, institution = {Climate Bonds Initiative}, year = {2016}, month = sep, url = {https://web.archive.org/web/20241214202533/https://www.climatebonds.net/files/files/-CBI-IISD-China%20Roadmap%20Paper4-EN.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }