Sales of green bonds could surpass $ 200bn in 2017 , breaking last year ’s record , according to a report from rating agency ' ’s . Issuance of the bonds , which are used to raise funds for renewable energy , low carbon and energy efficiency projects , rose 120 % to $ 200 in 2016 . “The need for a standardized definition and framework, including with reporting and disclosure practices, remains a bottleneck in the growth and development of a robust green bond market,” it said. The increase has been attributed to a significant rise in Chinese involvement in the renewables market . In total , China - based borrowers accounted for $ 32.9bn of bonds , or over a third of those issued last year . Despite the market ’s growth , green bonds still represented a mere 1.4 % of global capital market debt issuance in 2016 .
Sales of green bonds could surpass $ 200bn in 2017 , breaking last year ’s record , according to a report from rating agency ' ’s . Issuance of the bonds , which are used to raise funds for renewable energy , low carbon and energy efficiency projects , rose 120 % to $ 200 in 2016 . The increase has been attributed to a significant rise in Chinese involvement in the renewables market . In total , China - based borrowers accounted for $ 32.9bn of bonds , or over a third of those issued last year . Despite the market ’s growth , green bonds still represented a mere 1.4 % of global capital market debt issuance in 2016 .