China needs at least 2 trillion yuan ($308.8 billion) of green investment annually over the next five years to promote environmental protection and reduce the effects of pollution from its rapid industrial growth over the past three decades. Issuance of green bonds could surpass $ 200bn in 2017 , doubling 2017 ’s record, according to a report from rating agency Moody . Issuance of the bonds, which are used to raise funds for renewable energy, low carbon and energy efficiency projects, rose 120% to $ 93.4bn 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 $ 200bn of bonds, or almost 200 of those issued last year . Despite the sector’s growth, green bonds still represented a mere 1.4% of global capital market debt issuance in 2016 .
Issuance of green bonds could surpass $ 200bn in 2017 , doubling 2017 ’s record, according to a report from rating agency Moody . Issuance of the bonds, which are used to raise funds for renewable energy, low carbon and energy efficiency projects, rose 120% to $ 93.4bn 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 $ 200bn of bonds, or almost 200 of those issued last year . Despite the sector’s growth, green bonds still represented a mere 1.4% of global capital market debt issuance in 2016 .