China removes certain fossil fuel projects from list eligible for green bonds

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The proceeds from green bonds will no longer be allowed to used for certain fossil fuel energy projects, according to a statement from the People’s Bank of China (PBOC), in a move to bring the country’s green finance more in line with international standards.

So-called clean coal and secondary oil and gas extraction projects will no longer qualify for support from fundraising via green bonds issuance, according to the statement.

The list was jointly issued by the PBOC, the National Development and Reform Commission and the China Securities Regulatory Commission, and comes . . .

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