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![Workers construct a solar power field in Qinhuangdao, north China's Hebei Province, Oct. 28, 2015 [Xinhua]](http://thebricspost.com/wp-content/uploads/2016/04/248508386_81.jpg)
Workers construct a solar power field in Qinhuangdao, north China’s Hebei Province, Oct. 28, 2015 [Xinhua]
Chinese institutions issued $7.9 billion of green bonds in Q1, nearly half of the global total, according to the report.
The United States was the second largest issuer in Q1, with $3.4 billion, or 20 per cent of the global volume, Moody’s said.
Spurred by transactions initiated by China-based financial institutions, global green bond issuance reached $16.9 billion in the three months, nearly three times the volume seen the same period last year and above the $15.2 billion seen in the fourth quarter of 2015, the report said.
Green bonds are aimed at funding projects tackling climate change.
Total green bond issuance could potentially reach $70 billion this year, well above last year’s record of $42.4 billion and exceeding the initial projection of $50 billion for 2016, if the volume is sustained throughout the rest of the year, said Henry Shilling, a senior vice president of Moody’s.
HSBC Holdings Plc predicts $55 billion to $80 billion green bonds will be issued around the world in 2016.
Moody’s Corp.’s decision to assess new green bonds will also help to boost the market in the second half of the year, HSBC said in January.
A green bond is an innovative financing method used around the world, directing financial resources to environmental protection.
The Chinese mainland’s first green bond was issued by the Agricultural Bank of China and listed on the London Stock Exchange in October 2015.
TBP and Agencies
