Mon, 18 Oct 2021

China's first forest carbon sink bonds issued

Xinhua
24 Sep 2021, 02:19 GMT+10

© Provided by Xinhua

BEIJING, Sept. 23 (Xinhua) -- The Agricultural Development Bank of China (ADBC) launched the country's first carbon-neutral bonds for forest carbon sinks on Thursday.

The 2-year bonds, worth 3.6 billion yuan (about 556 million U.S. dollars), will be used to finance forest carbon sink projects including afforestation and reforestation.

Greater financial support will be provided to promote the green development of agriculture, and efforts made to channel funds to the sector, the ADBC said.

To date, the bank has floated 75.62 billion yuan of yuan-denominated green bonds.

More Hong Kong News

Access More

Sign up for Hong Kong News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!