China Green Finance Newsletter
China Green Finance Newsletter (Nov-Dec 2016)
China Green Finance Newsletter (Nov-Dec 2016)

Happy Chinese New Year of the Rooster!

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1 - Topic of the Month

The Fourth China SIF Annual Conference Focuses on the Role of Investors in the Green Finance Wave
The Fourth China Social Investment Forum (China SIF) Annual Conference “Catching the Green Finance Wave: the role of investors” was held in Beijing on December 6, 2016. Participants had deep conversations on topics of establishing China's green investor network, green bond market development, green investment practices and green investment of insurance companies, etc.  Read more

SynTao’s Peiyuan Guo on ChinaSIF, green finance and stock exchanges
Vibeka Mair | Responsible-Investor
The China Social Investment Forum (China SIF) held its fourth annual conference focused on the country’s major push on green finance. Responsible Investor speaks with Dr. Peiyuan Guo, General Manager at sustainability consulting firm SynTao Green Finance about the highlights from the event.  Read more

2 - Monthly News Selection


Taiwan Stock Exchange outlines corporate governance improvement to Hong Kong investors (MondoVisione: Nov 24, 2016)
Overseas investors updated on progress of corporate governance reforms and other improvements to the Taiwan market, including recent market reforms and growing product diversity.

China pins hopes on taxation for environmental protection (China Daily: Dec 9, 2016)
The legislation of a landmark environmental protection tax, which comes into effect in January 2018, will tax factories, power plants and other pollution emitters for releasing contaminants such as sulphur dioxide, a key contributor to the smog that has choked much of the country.

China’s IPO-hungry companies go where the money isn’t (WSJ: Dec 27, 2016)
After the introduction of a new rule to fast-track IPOs in poor parts of the country, some applications are beginning to speed through. A number of Chinese firms are moving their legal headquarters to take advantage of the rule.

New requirements on disclosure of poverty alleviation and environmental information by stock exchange (MondoVisione: Jan 4, 2017)
Shenzhen Stock Exchange (SZSE) has revised the Memoranda on Matters Regarding Periodic Reports Disclosure, which will enhance the efficiency of information disclosure related to periodic reports.

Responsible Investment

Three of China's richest entrepreneurs back $1 billion New-Energy Fund (Caixin: Dec 13, 2016)
Three Chinese billionaires were among 21 global business leaders to launch a $1 billion fund in support of clean-energy development, representing a new generation of philanthropy from China's newly wealthy.

ADB loan to fight air pollution in greater Beijing (China Daily: Dec 14, 2016)
The Asian Development Bank (ADB) has approved a loan of $499.6 million for a green financing platform targeting the air pollution-heavy greater Beijing area.

NDB’s first loan project unveils (Shanghai Daily: Dec 21, 2016)
The New Development Bank (NDB) signed 525 million yuan (US$75.53 million) of sovereign loan to a solar power project in Shanghai, marking BRICS bank's first loan project in China.

China issued the first social impact bond (Top News: Jan 3, 2017)
The first social impact bond - poverty alleviation social impact bond for Yinan County, Shandong Province, was registered in the National Association of Financial Market Institutional Investors.


After deadly construction accident in China, how high will the blame reach? (SCMP: Nov 26, 2016)
The investigation of a construction accident that caused 74 deaths in the Chinese province of Jiangxi is set to end the political careers of many local officials, but the question remains of how high the blame should go.

Investigation uncovers squalid conditions in Chinese toy sweatshops (news.com.au: Dec 12, 2016)
China Labour Watch investigated four factories in southern China’s Guangdong Province, where people work 11 hours a day, six and sometimes seven days a week, often without a break, for minimum wage.

Green Bonds

A China bothered by pollution grabs global green bond lead (Bloomberg: Nov 3, 2016)
China accounted for $21.9 billion of the $61.1 billion in global green bond sales in 2016, whose proceeds are earmarked for environmental projects.

Bank of China's $500M LSE 'green' bond listing cements exchange's position (Forbes: Nov 11, 2016)
With the London Stock Exchange (LSE) welcoming the listing of the first ever Chinese Green Covered Bond from the Bank of China, which raises $500m from international investors split between Asia and Europe, it is being touted as creating a “new and innovative asset class” for global investors.

Moody's assigns Green Bond Assessment of GB1 to the Bank of Communications Co., Ltd.’s green bond offering (Moody’s: Nov 22, 2016)
Moody's Investors Service has assigned a Green Bond Assessment (GBA) of GB1 to the Bank of Communications Co., Ltd green bonds in the form of 3-year (RMB10 billion) and 5-year (RMB20 billion) maturities. Its intended use of the proceeds is to finance and refinance green projects.

China Eximbank issues CNY 1bn of green bonds (Renewables: Dec 21, 2016)
The Export–Import Bank of China, also known as China Exim Bank, has issued CNY 1 billion (USD 144m/EUR 138m) worth of green bonds.

Global green bond market tipped to reach US$100bn in 2017, with China seen maintaining its lead (SCMP: Dec 23, 2016)
Global issuance of green bonds could expand more than 20 per cent to US$100 billion in 2017 after almost doubling this year, with China expected to maintain its global lead in the sector, according to deal arrangers.


China’s corporate governance standards fall (Financial Times: Nov 2, 2016)
China’s attempts to open up its equity markets to foreign investors could be undermined by the country’s deteriorating standards of corporate governance.

Climate change a Chinese hoax? Beijing gives Donald Trump a lesson in history (The Guardian: Nov 17, 2016)
China points out to global warming denier and president-elect that Republicans under Reagan and Bush actually put global warming on international agenda.

Too few of Hong Kong’s listed companies treat sustainability reporting seriously (SCMP: Dec 4, 2016)
Hong Kong-listed firms, which will be subject to more stringent reporting requirement on their ESG performance in 2017, should treat the exercise as part of their long term business strategy rather than a once-a-year box-ticking exercise.

China set for top spot in carbon trading (Climate News Network: Dec 4, 2016)
Chinese officials say they will have the world’s biggest carbon trading scheme up and running throughout the country by the middle of 2017.

3 - Reports of the Month

Chasing the Dragon? China’s coal overcapacity crisis and what it means for investors
(Carbon Tracker: November 2016)

This report presents analysis which finds China no longer needs to build any additional coal plants and therefore it makes sense to act with conviction to contain its coal overcapacity crisis.


Global ESG Sector Playbook

(HSBC: November 2016)

The report covers sector-by-sector review, arguing that “environmental, social, and governance issues have gone mainstream, are driving performance, and represent over 40% of sector value drivers”.



(Thomson Reuters: November 2016)

This new report on the greenhouse gas (GHG) emission trends from 3500 of the largest publicly traded companies in the world is intended to help clarify trends and opportunities in this group of actors and their value chains.


Sustainable Signals: The Asset Manager Perspective
(Morgan Stanley: November 2016)

Morgan Stanley’s Institute for Sustainable Investing and Bloomberg L.P. surveyed 402 asset management professionals to find out how well they have adapted to the onslaught of demand for impact investing.



Recommendations of the Task Force on Climate-related Financial Disclosures

(TCFD: December 2016)

To help identify the information needed by investors, lenders, and insurance underwriters to appropriately assess and price climate-related risks and opportunities, the Task Force structured its recommendations around four thematic areas: governance, strategy, risk management, and metrics and targets.


Global Divestment Report 2016: The Global Fossil Fuel Divestment and Clean Energy Investment Movement
(Arabella Advisors: December 2016)

The value of assets represented by institutions and individuals committing to some sort of divestment from fossil fuel companies has reached $5 trillion, reflecting increased financial and fiduciary risks of holding fossil fuels in a world committed to stay below 2° Celsius warming.



FTSE4Good 15th anniversary is celebrated with new sustainable investment launches
(FTSE Russell: December 2016)

FTSE Russell launched the new FTSE4Good Emerging Markets Index and FTSE4Good Emerging Latin America Index, and a new ESG Ratings data model in 2016.


Global Guide to Responsible Investment Regulation

(PRI: December 2016)

The Global Guide to Responsible Investment Regulation has found a strong correlation between responsible investment regulation and better ESG risk management by companies.




1- Topic of the Month
2- Monthly News Selection
3- Reports of the Month



26th China SIF

Dialogue between Swedish SRI Consultancy and Chinese Peers on SRI Practices
The event was held in the form of roundtable discussion with Ethix SRI Advisors. With the theme "the Value of the UN Global Compact", the participants of the roundtable expressed their own experiences on how to manage opportunities and risks on corporate social responsibility (CSR) and investor's viewpoint on CSR performance.   Read More

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China Green Finance Newsletter is a monthly newsletter developed by SynTao Green Finance.

SynTao Green Finance is founded by SynTao and provides tailored consulting, research and training services in environmental, social and governance (ESG) risk management, green finance product innovation, and other sustainable finance perspectives.


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