As China embarks on the important journey of developing a green finance market, HSBC is embracing the opportunity to help China by sharing international best practice and latest examples' with Chinese policy makers and clients across corporate and financial institutions to help identify this opportunity both domestically and internationally'.

 

HSBC has already demonstrated its commitment and experience in this task by acting as the sole lead manager for the first ever Yuan -  denominated offshore green bond, which was issued by the International Finance Corporation in London.

 

The bank's leadership in this space is also evidenced by actively setting up the internationally recognized "green bond principles" with other ICMA members.

 

The forum covered topics including the importance, vision and next steps of China's green finance market, how it can take lessons from international best practices, what it means for the opening up of access to China's capital market, and the potential impact this market could have globally.

 

Sustainable finance is not just about addressing environmental challenges, but also finding solutions for financing long term investment and economic growth and supporting the necessary infrastructure and technology to make it happen.

 

Green bonds are a relatively new asset class, started in 2008 when the World Bank's environment department issued the first. Proceeds were small, in the tens of millions of dollars, and there were few investors.

 

Currently the Chinese government has established a 'special green finance task force'. The task force will help build an effective domestic green market, which includes defining 'green' by leveraging international standards and proposing an acceptable second opinion provider in China for verification purposes. Events such as the HSBC Beijing green bond conference have been key to facilitating such discussions.

 

Internationally, green bonds principals and regulations are established through the leadership of the International Capital Market Association, which then facilitates cooperation and discussions between representatives of issuers, investors and intermediaries in this market. 

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