Manual: ¿Cómo emitir un bono verde panda?

This guide by the Climate Bonds Initiative provides a comprehensive overview of the regulations, procedures, and market dynamics for foreign entities wishing to issue green panda bonds in mainland China. It defines the green panda bond as a Renminbi-denominated bond issued by a foreign entity in China with proceeds dedicated to green projects, requiring compliance with both panda bond and green bond guidelines.

• China has established itself as the second largest green bond market globally, with total issuances reaching US$ 60.9 billion by October 2018.
• The Chinese green bond market is characterized by a high concentration of commercial bank investment, which accounts for approximately 85% of bond investment in the domestic market.
• Green panda bonds are specifically defined as bonds denominated in Renminbi (RMB) issued in mainland China by a foreign entity, where the issuer identifies the bonds as 'green', allocates resources to green projects or assets, and monitors and reports on the use of those resources.
• The regulatory framework for green panda bonds involves multiple authorities; the People's Bank of China (PBoC), China Securities Regulatory Commission (CSRC), and National Development and Reform Commission (NDRC) are the primary regulators. Foreign financial institutions must have a paid-up capital of RMB 10 billion or equivalent and obtain PBoC approval.
• Since 2016, five green panda bond offerings have been made, totaling RMB 5.9 billion (US$ 880 million). Renewable energy is the dominant theme, accounting for over 60% of proceeds allocation.
• The first green panda bond was issued in July 2016 by the New Development Bank (NDB) for RMB 3 billion (US$ 448 million) to fund projects in China, Brazil, and Russia.

APA

Climate Bonds Initiative (2018). Manual: ¿Cómo emitir un bono verde panda? https://www.climatebonds.net/files/documents/publications/db205bb1-e954-4a95-b7c0-f5e7b201cb19.pdf

Chicago

Climate Bonds Initiative. Manual: ¿Cómo emitir un bono verde panda? 2018. https://www.climatebonds.net/files/documents/publications/db205bb1-e954-4a95-b7c0-f5e7b201cb19.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Manual: ¿Cómo emitir un bono verde panda? |date=November 2018 |url=https://www.climatebonds.net/files/documents/publications/db205bb1-e954-4a95-b7c0-f5e7b201cb19.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018manual, author = {{Climate Bonds Initiative}}, title = {{Manual: ¿Cómo emitir un bono verde panda?}}, institution = {Climate Bonds Initiative}, year = {2018}, month = nov, url = {https://www.climatebonds.net/files/documents/publications/db205bb1-e954-4a95-b7c0-f5e7b201cb19.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }