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Green Bond Focus 10.9-10.15

Time:2017-10-25 From: Author:

10.9-10.15 Green Bond Weekly

First, a week a new green bond overview

Table 1: Labeling Green Debts



















From the wind database:

This week there is a green bond market bonds issued a new green debt. 17 Hebei Leasing Green Finance 03, with a coupon rate of 5.97% and a maturity of 3 years. The funds are used for the green industry projects stipulated in the "Green Bonds Support Project Directory" prepared by the Green Finance Committee of the Chinese Finance Association and are mainly targeted at clean energy and energy conservation Environmental protection and industrial energy-saving companies focused on supporting strategic industries.

This week is nothing more than the issue of green bonds.

Domestic news

1. Eight departments jointly issued "on the construction of the capital green finance system implementation measures"

On October 11, the eight departments including the Beijing Municipal Bureau of Finance, the Beijing Municipal Development and Reform Commission, the Beijing Banking Regulatory Bureau and the Central Bank Administration jointly promulgated the Measures for the Implementation of the Capital's Green Financial System (hereinafter referred to as the Measures) Clearly pointed out that speeding up the construction of a green financial system based on green credit, green bonds, green listed companies, green funds, green insurance and carbon finance is the strategic direction of the capital's financial development and the importance of building a "sophisticated" economic structure support.

The Measures put forward for the first time a "green finance functional area for construction", actively exploring the innovation of green financial service mode in the construction of city sub-centers and building the city sub-center into a green finance demonstration area. At the same time, the "Measures" put forward will actively promote the unified national carbon emissions trading market, carbon pricing centers and other environmental rights trading market and other green institutions settled in Beijing, and actively strive for a pilot carbon emissions trading futures in Beijing, and gradually built with international influence Support the establishment of green finance franchise institutions such as green finance branches or green branches in Beijing banking financial institutions and encourage banks to give strong support to green finance in terms of credit scale, finance, manpower and risk tolerance, etc. Green credit approval special channel. Support the establishment of green banks by financial institutions and private capital, support green projects through such means as investment and loan linkage, bond and debt consolidation, and increase lending capacity through various means such as refinancing, issuing financial bonds and asset securitization. Support banking financial institutions to carry out joint venture pilot projects in science and technology enterprises in Zhongguancun and actively carry out green credit and green investment. For green credit support projects, may apply for financial interest subsidy support. In line with the national industrial policy and economic restructuring of green projects, increase loan discount efforts.

Source: Beijing Daily


2. Jiangsu Province, the first green-themed bank was officially listed

Recently, the first green-themed bank in Jiangsu Province, co-founded by Jiangsu Provincial Department of Environmental Protection and Industrial Bank Nanjing Branch, officially started operations. Ji Bingxian, deputy inspector of the Jiangsu Provincial Department of Environmental Protection and Guan Hengqiu, governor of Industrial Bank Nanjing Branch, unveiled the operation.

Building a green-themed bank is another innovative measure taken by Jiangsu Provincial Department of Environmental Protection and Industrial Bank Nanjing Branch to reach a new round of green finance business cooperation in April this year, and actively promote the green transformation of the province's production and lifestyle. The green-themed bank was established in the business department of Industrial Bank Nanjing Branch and is a fully functional bank flagship network. It is also a green finance, green living and green office experience center.

Different from ordinary bank outlets, the green-themed bank also set up second-hand book circulation angle to encourage book exchange and free borrowing for free, so that idle books can flow between different lovers and realize the recycling of old books. At the same time, in the outlets at the gate specifically for the sharing of bicycles designated temporary parking points. Park about parking 50 bicycles, bicycles will be able to effectively solve the problem of parking everywhere, chaos stop chaos, smooth green low-carbon travel "last mile."

Source: Financial Times


Foreign news

1. Japan Mizuho Financial Group Co., Ltd. issued the first green bond

         On October 10, 2017, Mizuho Financial Group Co., Ltd. decided to issue the company's first green bond. The bond coupon rate of 0.956% for a period of 7 years, raising a total of 500 million euros of funds, mainly for Mizuho bank loans, and ultimately for the financing of green projects.

Source: Mizuho Financial Group


Second, the policy of academic trends

(A) policy introduction

1. National Development and Reform Commission Office released the implementation of energy-saving audit in 2017 to implement the supervision and inspection of the notice

October 10, 2017, in order to strengthen the review of energy-saving matters in the after-supervision, follow-up and inspection of energy-saving review system around the implementation of major projects and the implementation of energy-saving review Opinion, according to "People's Republic of China Energy Conservation Law," Fixed Assets Investment Project Energy Conservation Review "(NDRC Order No. 44, hereinafter referred to as the" Measures ") and other relevant provisions, the NDRC intends to carry out the implementation of the 2017 annual energy conservation review of the supervision and inspection.

NDRC intends to examine the implementation of energy-saving review systems throughout the country and the implementation of energy-saving review opinions of major high-energy-consuming projects, including system construction, assessment and approval, incident and post supervision, and capacity building. Implementation of energy-saving review system implementation and review of the implementation of the situation are to take self-examination and on-site inspections in some areas, and require all units in October 31 will be the implementation of energy-saving inspection system self-examination report, review of energy-saving implementation of the views of the situation since Investigation Report (Summary Table of Project Construction) Feedback to the NDRC Environmental Protection Division and the National Energy Conservation Center.

Source: National Development and Reform Commission website


2. Development and Reform Commission released the second half of 2017 circular economy pilot demonstration of various types of mid-and late regulatory notice

On October 10, 2017, in order to implement the requirements of the State Council's "Undertaking and Service" work, we strengthened supervision in the middle and later stages of pilot projects to ensure the smooth implementation of pilot projects for various types of circular economy. The National Development and Reform Commission, the Ministry of Finance, and the Ministry of Housing and Urban-Rural Development Various types of circular economy demonstration pilot units in the second half of 2017 after the regulatory work, the relevant matters are hereby notified as follows.

For the implementation of the program approved the full three years of "urban mineral" demonstration base, the park recycling, kitchen waste recycling pilot cities, plans to carry out mid-term assessment, the provincial departments to carry out pre-assessment and assessment results and to prove Materials, the National Development and Reform Commission, the Ministry of Finance, and the Ministry of Housing and Urban-Rural Development to conduct a review and summary of the pre-assessment and entrust a third-party agency to evaluate the written materials and carry out spot checks based on the written assessment.

For countries that have not yet adjusted their implementation plans, the "City Minerals" demonstration base, the park recycling transformation and the pilot city for the recycle of kitchen waste will be applied for adjustment according to actual needs.

For the national "City Minerals" demonstration base approved for construction before 2013 and approved for postponement until 2017, the park will be reused and the pilot city of kitchen waste recycling will be planned to carry out the scheme acceptance. For those who fail to pass the inspection Unit, cancel the title of demonstration, full deduction of the central financial subsidies.

Source: National Development and Reform Commission website


3. NDRC released guidance on promoting energy storage technologies and industrial development

On October 11, 2017, energy storage is an important component of smart grid, high proportion of renewable energy energy systems and "Internet +" smart energy (hereinafter referred to as the energy Internet) and key support technologies. Energy storage can provide many services such as peak regulation, FM, backup, black start, demand response support and other services for power grid operation. It is an important means to enhance the flexibility, economy and safety of traditional power systems; energy storage can significantly improve the wind and light And other renewable energy consumption levels to support distributed power and micro-grid, is to promote the main energy from fossil fuels to renewable energy replacement key technologies; energy storage can promote open and share energy production and consumption and flexible transactions, to achieve synergies Is the core foundation for building an energy Internet, promoting the reform of the power system and promoting the development of a new energy industry.

Opinion pointed out that the top-level design should be strengthened to increase policy support, the introduction of financial and other supporting measures to co-ordinate the industry to solve major common problems of innovation and development, and strengthen guidance and information services to promote a reasonable opening up of energy storage facilities to encourage fair market participants in multiple markets Competition, create an open and inclusive environment for innovation, and encourage innovation in all forms of technologies, mechanisms and business models. Give full play to the pilot project of demonstration projects, advance the new energy storage technologies and new models, and create an atmosphere of innovation and innovation; give full play to the decisive role of the market in resource allocation and encourage social capital into the field of energy storage. Combining with the reform of the power system, , And gradually establish and improve the power market-oriented trading and flexible resource pricing mechanism, restore energy commodity attributes, focus on cracking down institutional obstacles; strengthen overall planning, optimize the layout of energy storage projects, pay attention to the coordinated development of upstream and downstream, optimize the material, components, System, operation to the recycling of a complete industrial chain.

Source: National Development and Reform Commission website


(B) academic conference

1. Governor Zhou Xiaochuan attended the "Green Finance System: A Road to Explore the Future" Roundtable

On October 12, 2017, President Zhou Xiaochuan attended the "Green Finance" co-sponsored by the Paulson Foundation, the United Nations Environment Program, the International Finance Association and the Securities and Markets Association, during the IMF / World Bank Annual Meeting. System: Road to Explore the Future "and delivered a speech. In his speech, Governor Zhou Xiaochuan pointed out that China vigorously promoted the concept of green finance during the presidency of the Group of Twenty (G20) and the Chinese government also regarded green finance as an important part of its national green development strategy. Governor Zhou Xiaochuan called for the G20, governments and central banks to further solve the challenges facing the development of green finance and continue to promote green finance based on the progress made. Former U.S. Treasury Secretary Henry Paulson, representatives from major international organizations, financial institutions and academic institutions attended the roundtable.

Source: People's Bank of China website


The Eighth China-US Energy Efficiency Forum was held in the United States

On October 13, 2017, the Eighth China-US Energy Efficiency Forum, co-sponsored by China's National Development and Reform Commission and the U.S. Department of Energy, was held in Denver, Colorado.

Ren Shuben, director of the Central Government's Capital Department of China's National Development and Reform Commission, said at the opening ceremony of the forum that China and the United States are the two largest economies and energy consumers in the world. It is an unshirkable responsibility of both countries to improve energy efficiency and conserve energy and resources. Both countries share common demands in energy conservation and energy efficiency. This forum is of great significance to deepening the cooperation between the two countries in relevant fields and promoting the development of energy-saving and low-carbon green.

Ren Shumin said that China has integrated the building of ecological civilization into the overall arrangement of "one of the five" in building socialism with Chinese characteristics. China has all along promoted the construction of ecological civilization and achieved remarkable results. He said saving energy and improving energy efficiency are important means of promoting the construction of ecological civilization. China has always adhered to the energy development guidelines of "focusing on both development and conservation and putting conservation first" and formulated a energy-saving priority energy development strategy.

U.S. Deputy Assistant Secretary of Energy Daniel Simmons said on the same day that the cooperation between the United States and China in energy efficiency is of crucial importance. This U.S. government is committed to creating a cheap and reliable energy system and actively seeking cooperation with the Chinese government. He said: "I am not worried about the future cooperation between the two countries in energy efficiency will be affected, because this cooperation is in the common interest of the United States and China."

The forum also discussed topics such as building energy efficiency and green lighting, demand side management and energy efficiency technology policies, contract energy management and energy efficiency financing, industrial energy saving and energy management systems. More than 100 government officials, business representatives and researchers from China and the United States attended the forum.

Source: China News


Zhu Chuanrui Feng Zixuan