China’s National Development Bank Issues $1.7 Billion in Green Bonds to Fund Key Sustainability Projects and Cut 697,200 Tonnes of CO2 Annually

China’s National Development Bank (NDB) has issued 12 billion yuan (about $1.7 billion) in green financial bonds, marking a significant step in sustainable finance. The three-year bonds, with a 1.63% rate, are intended for projects in energy conservation, environmental protection, clean energy, and infrastructure greening. This issuance increases NDB’s total green bond issuance to 189 billion yuan, aiming to cut CO2 emissions by 697,200 tonnes and save 308,900 tonnes of coal annually. The bonds saw strong demand with a 3.08 subscription multiple, reflecting growing confidence in sustainable finance. Between January and May 2024, NDB also issued over 200 billion yuan in green loans, highlighting its commitment to green finance. As of June 2024, China’s green bond market has reached a cumulative issuance of 3.74 trillion yuan. Resources: https://esgnews.com/chinas-national-development-bank-issues-1-7-billion-in-green-bonds-to-fund-key-sustainability-projects-and-cut-697200-tonnes-of-co2-annually/