Roadmap for China: Using Green Securitisation, Tax Incentives and Credit Enhancements to Scale Green Bonds

Instruments and incentives can give a wider range of issuers access to the market.

Rapid growth in China’s green bond issuance and investment is essential for green bonds to make a material contribution to meeting China’s environmental investment and climate finance needs.

This paper provides specific actions for China’s policy-makers to put in place instruments and incentives for green bonds, with a particular focus on how to grow a green securitisation market in China that can access international capital. Specific actions for China draw on domestic and international experience.

This is the third in a series of four 2016 discussion papers issued by the Climate Bonds Initiative and the International Institute for Sustainable Development (IISD) on prospects for the Chinese green bond market.

The four papers are:

• Roadmap for China: Green Bond Guidelines for the Next Stage of Market Growth (Paper 1)
• Roadmap for China: Scaling Up Green Bond Market Issuance (Paper 2)
• Roadmap for China: Using Green Securitisation, Tax Incentives and Credit Enhancements to Scale Green Bonds (Paper 3)
• Roadmap for China: Extending the Joint Leadership on Green Finance (Paper 4)

相关金融工具和激励措施可以帮助发行人进入绿色债券市场。绿色债券若要在满足 中国环境投资和气候融资的需求以做出重大贡献，中国绿色债券发行和投资规模的快速增长至关重要。

本报告为中国决策者提供了在制定扩大绿色债券发行规模的工具和激励措施时可采取的具体行动，并着重讨论了中国可以如何发展绿色资产证券化市场，利用国际资本的。以国内和国际经验为借鉴，本报告为中国提供了一系列具体行动方案。

气候债券倡议组织和国际可持续发展研究院（“IISD”）就中国绿色债券市场发展前景发布了四份2016年讨论报告，本报告是其中的第三份。

这四份报告分别如下：

• 中国绿色债券发展路线图：在下一市场发展阶段的绿色债券指引 (报告一)
• 中国绿色债券发展路线图：扩大绿色债券的发行 (报告二)
• 中国绿色债券发展路线图：利用绿色资产证券化、税收优惠和增信措施扩大绿色债券的规模 (报告三)
• 中国绿色债券发展路线图：增强中英在绿色金融方面的联合领导力 (报告四)