发展中国的绿色债券市场

The report argues that green bonds can lower the cost of capital for green industries and increase financial transparency. It analyzes international experiences from development banks and municipal markets to propose a four-step blueprint for China: defining eligible green investments, coordinating regulatory frameworks, engaging investors through roundtables, and launching pilot projects across sovereign, municipal, and corporate issuers.

• The global market for climate-themed bonds reached 346 billion USD by March 2013, with China representing the largest share at 127 billion USD, though 92% of this was issued by the former Ministry of Railways.
• To overcome liquidity and risk barriers, the report suggests using public financial tools such as tax credits, interest subsidies, and 'first-loss' reserves to attract mainstream institutional investors who require benchmark-sized trades (typically over 300 million USD).
• For local government financing, the report recommends 'green asset-backed securities' (ABS) to increase transparency and manage the risks associated with the estimated 12 trillion RMB in local government debt.
• A proposed blueprint for China's green bond market includes four immediate actions: defining eligible green investments based on performance, coordinating regulators (PBOC, CSRC, and NDRC), holding investor roundtables, and conducting pilots with policy banks and state-owned enterprises.

APA

Kidney, S., & Oliver, P. (2014). 发展中国的绿色债券市场. International Institute for Sustainable Development. https://www.iisd.org/system/files/publications/growing-green-bonds-ch.pdf

Chicago

Kidney, Sean, and Padraig Oliver. 发展中国的绿色债券市场. International Institute for Sustainable Development, 2014. https://www.iisd.org/system/files/publications/growing-green-bonds-ch.pdf.

Wikipedia

{{cite report |last1=Kidney |first1=Sean |last2=Oliver |first2=Padraig |title=发展中国的绿色债券市场 |publisher=International Institute for Sustainable Development |date=February 2014 |url=https://www.iisd.org/system/files/publications/growing-green-bonds-ch.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{kidney2014, author = {Kidney, Sean and Oliver, Padraig}, title = {{发展中国的绿色债券市场}}, institution = {International Institute for Sustainable Development}, year = {2014}, month = feb, url = {https://www.iisd.org/system/files/publications/growing-green-bonds-ch.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }