The Asia Miner

APR-JUN 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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the asia miner • volume 16 • issue 2 28 AROUND THE REGION Chinese regulators are close to releasing new "green bond" standards that would exclude polluঞng fossil fuel projects from corporate financing channels designed to li[ environmental standards. Beijing has in recent years promoted new green financing methods to help industry pay for its transiঞon to cleaner modes of growth. But China's inclusion of 'clean coal' in a 2015 central bank list of technologies eligible for green bonds has put the country at odds with global standards, a point of contenঞon for some internaঞonal investors and many environmental groups. According to Reuters, two sources with direct knowledge of the situaঞon say China's central bank, which regulates financial insঞtuঞon debt issuance and whose 2015 guidelines were adopted by other market regulators, has already revised the eligibility list. One of the people said the list is due to be published later this month. The People's Bank of China did not immediately respond to Reuters' request for comment. "If confirmed, ending the policy of financing coal with green bonds would be a much-needed step in the right direcঞon," said Liu Jinyan, senior campaigner with environmental group Greenpeace in Beijing. "With no new coal projects taking money from the green bonds market, those funds can actually accelerate China's energy transiঞon and green development," she said. Of the US$42.8 billion worth of green bonds issued in China last year, only US$31.2 billion would have met global criteria, according to a report published at the end of February by the Climate Bonds Iniঞaঞve (CBI), a non-profit group backing green bond standards. The share of what CBI calls "internaঞonally aligned" green bonds has been steadily increasing as China's insঞtuঞons move to align themselves more with global markets. REUTERS Chinese regulators to limit use of green bonds for 'clean coal' projects 中国监管机构限制"清洁煤"项目使用绿色债券 中国监管机构即将发布新的"绿色债券"标准,将污 染化石燃料项目排除在旨在提高环境标准的企业融资 渠道之外。 近年来,中国政府在北京一直在推广新的绿色融资方 式,用来帮助工业为其更清洁增长模式的转型买单。 但中国将"清洁煤"纳入2015年央行的绿色债券技术 清单,使中国与全球标准相悖,这是一些国际投资者 和许多环保组织争论的焦点。 员表示,负责监管金融机构债券发行的中国央行已经 单将于本月晚些时候公布。中国人民银行没有立即回 应路透社的置评请求。 环保组织绿色和平(Greenpeace)驻北京的高级活动人 "如果得到证实,终止用绿色债券为煤 将是朝着正确方向迈出的非常必要的一 获得资金,这些基金实际上可以加快中国的能源转型 据支持绿色债券标准的非营利组织"气候债券倡 议"(CBI) 2月底发布的一份报告显示,在中国去年发 行的428亿美元绿色债券中,只有312亿美元符合全球 标准。随着中国的金融机构开始与全球市场接轨,CBI 所称的"与国际接轨"绿色债券的份额一直在稳步上 升。 路透社

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