Green and sustainability-related bonds have helped raise US$134 billion in the Asia-Pacific region so far this year, excluding Japan. China accounted for more than half of this volume. The demand for sustainable finance products will remain robust despite elevated interest rates in this region, which is exposed to expensive climate change-related events and needs to invest US$71 trillion by mid-century to achieve net-zero emissions.
The aim of the transition financing products being introduced by China include:
- To support companies’ decarbonisation initiatives
- To support the country’s strategic emphasis on energy security and supply chain security
- To assist China’s transition away from fossil fuels
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