国产av不卡一区二区_欧美xxxx做受欧美_成年人看的毛片_亚洲第一天堂在线观看_亚洲午夜精品久久久中文影院av_8x8ⅹ国产精品一区二区二区_久久精品国产sm调教网站演员_亚洲av综合色区无码一二三区_成人免费激情视频_国产九九九视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Why cross-border capital may flow into China's ESG space

By Norbert Ling and Zhong Haidan | China Daily | Updated: 2022-07-11 10:29
Share
Share - WeChat
[Photo/IC]

The time has come when ESG investing-which considers environmental, social and governance factors in investment decisions-is increasingly a why-not phenomenon in China.

The country has been a strong advocate of promoting sustainable financing and decarbonization efforts, and is undertaking one of the largest energy grid transformations toward renewable energy globally. Home to the world's second-largest green bond market, there were over $270 billion of green bonds outstanding as of the end of 2021.

As such, we believe there are opportunities in ESG investing in China for investors searching for impact opportunities and financial return objectives.

China's ESG standards have been aligning with international standards more rapidly than ever. This is expected to accelerate the pace of cross-border flows into sustainable finance.

China's green taxonomy was first released in 2015. The revised edition, published in 2021, shows improvements in the alignment of China's taxonomy with international standards. The latest taxonomy presents clear green definitions at the activity level in China with the aim of enhancing disclosure and transparency across the board.

In 2020, the European Union and China initiated a working group within the International Platform on Sustainable Finance to undertake a technical comparison of taxonomies from the two jurisdictions. The Common Ground Taxonomy puts forward areas of commonality and differences between the EU and China's green taxonomies, providing a valuable tool to enable the comparability and interoperability of these taxonomies.

We believe the convergence between these taxonomies will continue to happen, which can help promote China's sustainable investment at home and abroad. Such breakthroughs are expected to further spur cross-border investment in this space.

In addition, China is in the midst of a rapid scale-up of renewable capacity that is unparalleled globally.

Since 2015, the nation's renewable energy capacity has surpassed that of Europe. China is now the world's dominant supplier of solar modules, wind turbines and lithium-ion batteries. The rate of change has been unprecedented.

For example, total new offshore wind power brought online in China last year was 1.6 times the total offshore wind capacity in the United Kingdom. Non-fossil fuel energy is expected to make up around 17.3 percent of total energy production this year and is expected to increase to 80 percent by 2060.

China's 2060 carbon neutrality target represents a significant investment opportunity. We expect more green bond issuers to emerge across a wide range of sectors in both the private and sovereign spaces. In addition, we expect further innovation in sustainable bond formats, such as China's carbon neutrality bond format, which is being viewed by some as an even greener bond given its stricter use of proceeds.

In particular, we believe there are seven key thematic opportunities that currently exist in China around sustainable investing.

First is clean water and biodiversity. The proportion of State-controlled water assets with good quality surface water (Grades I, II and III) increased from 66 percent in 2015 to 83 percent in 2020. A number of local government financing vehicles play a key regional and local role in improving access to water and sanitation in cities alongside waste management.

We favor issuers with clear policy objectives where there is stronger government support to ensure financial stability. Meanwhile, reducing water pollution and improving water quality is a key pillar supporting biodiversity in China. The country is also playing an international role in improving biodiversity in developing countries.

Second is social orientation. Poverty reduction has been a key success story amid China's economic transformation. The World Bank said China's efforts in this area contributed to global extreme poverty alleviation by over 75 percent over the past 40 years. There are several local government financing vehicles aligned with this theme that have an integral role to play in urban redevelopment and affordable housing.

Third is clean energy. Given their scale, select Chinese issuers are seen as global enablers of clean energy, such as large battery producers and electric vehicle manufacturers. In addition, issuers that adopt clean energy, particularly major electricity consumers, are also critical in accelerating the national shift toward clean energy.

For example, the Chinese tech sector has a key role to play in developing green and energy-efficient data centers for the digital economy, particularly as data centers are expected to account for around 4 percent of China's total electricity consumption by 2030.

Fourth is top-down driven net-zero transition. We have already observed that State-owned enterprise issuers from heavy carbon-emitting sectors such as energy, utilities and aluminum, are setting targets to support China's net-zero goals. This trend is expected to drive carbon target setting in SOEs as well as the private sector.

The key investment implication of this is that, over time the investment universe for Chinese fixed income is expected to become more strongly geared toward decarbonization objectives.

Fifth is sustainable cities and infrastructure. Cities cannot be sustainable without infrastructure that supports sustainable transport nodes. China currently accounts for around a quarter of the world's urban rail transit by length and we see potential investment opportunities in the metro issuers that are active in major Chinese cities.

Sixth is sustainable finance. In November, the People's Bank of China, the central bank, rolled out measures to support low-cost loans to financial institutions. As of May, the PBOC offered policy support to financial institutions to issue green and low-carbon loans totaling 230 billion yuan ($34.34 billion), which equates to around 47.8 megatons of annual carbon dioxide reduction.

Seventh is climate adaptation. Areas of focus include the protection of coastal belts, agricultural land and water. Reforestation has a strong focus on building up the country's carbon sink capacity within its ecosystems. As of the end of 2020, China's forested areas stood at 220 million hectares and its forest coverage reached 23 percent, with forest carbon storage approaching 9.19 billion metric tons.

As China's efforts in sustainable development continue to bear fruit, we believe new investment opportunities may also emerge. There is scope for China to become a core holding of any investor who is seeking to make an environmental impact.

The alignment of China's ESG standards with international standards also allows for international investors to take part in the internationalization of sustainable finance in China. The magnitude of the energy transition that needs to take place in the next five to 10 years is unprecedented, and this entails significant investment needs.

The writers are Norbert Ling, an ESG credit portfolio manager at Invesco Fixed Income, and Zhong Haidan, a senior client portfolio manager at Invesco, a global investment management company.

The views don't necessarily reflect those of China Daily.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
zzjj国产精品一区二区| 91在线导航| 黄p免费网站| 国产毛片av| 日韩亚洲色图| 野外性xxxxfreexxxxx欧美| 91爱视频在线| 高清欧美电影在线| 久久久女女女女999久久| 欧美成人精品不卡视频在线观看| 色综合伊人色综合网站| 中文字幕久热精品在线视频| 亚洲午夜精品视频| 亚洲一区二区久久久| 亚洲视频在线观看| 中文字幕v亚洲ⅴv天堂| 中文字幕av一区中文字幕天堂| 久久久久久久久久久人体| 在线成人午夜影院| 在线不卡一区二区| 欧美一区二区三区视频免费| 亚洲国产精品一区二区久| 99在线视频观看| 国产69精品久久app免费版| 免费在线视频一级不卡| 人与牲动交xxxxbbb| 久久黄色av网站| 精品国产一区av| 久久夜精品香蕉| 欧美日本啪啪无遮挡网站| 久久99精品视频一区97| 欧美国产乱视频| 午夜欧美不卡精品aaaaa| 91精品国产亚洲| 中文字幕在线观看av| 亚洲欧美乱综合图片区小说区| 自拍偷拍国产| 国产精品yjizz视频网一二区| 在线伊人电影| www.撸撸| 日本最黄视频| 偷拍自拍在线| 欧美性天天影视| heyzo一区| 日韩美女在线看免费观看| 亚洲人成777| 福利欧美精品在线| 国产精品日韩精品中文字幕| 99久久夜色精品国产亚洲狼| 黑人一区二区| 日本三级亚洲精品| 国产成人在线看| 99久久精品国产一区二区三区| 在线观看免费视频你懂的| 黄色毛片视频| 少妇激情av一区二区| www.亚洲.com| 波多野结衣中文字幕久久| 在线看片国产福利你懂的| 57pao成人永久免费| 欧美交a欧美精品喷水| 日韩综合一区| 国产婷婷精品| 国产乱人伦精品一区二区在线观看| 99视频一区二区| 自拍偷拍亚洲综合| 色8久久精品久久久久久蜜| 日韩一区二区三区视频| 亚洲深夜福利在线| 欧美极度另类性三渗透| 精品a在线观看| 污版网站在线观看| 久草在线青青草| aa级大片免费在线观看| 亚洲高清影院| 精品一区av| 亚洲深夜影院| 成人午夜视频福利| 亚洲免费看黄网站| 欧美片网站yy| 国产一区二区三区日韩欧美| 97在线观看视频国产| 最新天堂网www| 亚洲男男gay视频| 黄色网址在线免费播放| 精品欧美一区二区三区在线观看| www国产精品| 国产综合网站| 国产一区啦啦啦在线观看| 中文字幕不卡一区| 91久久精品一区二区二区| 亚洲国产精品va在看黑人| 久久99久久久久久久噜噜| 国产在线观看色| 浪潮av在线| av在线free| 国产精品色婷婷在线观看| 久久五月天小说| 久久精品国产精品亚洲精品| 国产精品久久三区| 欧美日韩亚洲高清一区二区| 中文字幕一区二区三区电影| 亚洲国产综合久久精品小蝴蝶| 成人黄色电影网址| 色综合久久影院| 国精产品一区二区三区有限公司| 国产精品一区二区99| 久久九九精品| 国产喷白浆一区二区三区| 色婷婷激情久久| 一本一本久久a久久精品综合小说| 一区二区成人在线视频| 成人性视频免费网站| 一区二区高清免费观看影视大全 | 91麻豆精品国产自产在线| 亚洲丝袜另类动漫二区| 狠狠干狠狠久久| 亚洲另类欧美自拍| 影音先锋中文字幕影院| 日韩精品看片| 女人天堂亚洲aⅴ在线观看| 国产一区二区三区视频在线播放| 一区二区中文视频| 日韩一级免费观看| 欧美大片在线影院| xxxxxwwww免费视频| av大全在线免费看| 99国内精品久久久久| 亚洲激情专区| 免费在线观看一区二区三区| 欧美激情综合在线| 欧美日本一区二区三区| 99久久精品一区二区三区| 在线电影中文日韩| 欧美人与z0zoxxxx特| 91在线电影| 欧洲一区精品| 欧美一区二区性| 国产在线精品一区二区三区不卡| 亚洲一区二区欧美激情| 亚洲精品中文字幕女同| 欧美日韩性视频一区二区三区| 国内福利写真片视频在线| 校园春色亚洲| 理论片一区二区在线| eeuss在线观看| 高清在线视频不卡| 日韩理论电影院| 粉嫩av一区二区三区粉嫩| 色综合久久久久综合体桃花网| 中文日韩在线视频| 青春草在线视频观看| a√资源在线| 9999久久久久| 免费人成网站在线观看欧美高清| 亚洲免费av观看| 亚洲精品视频免费在线观看| 国内精品免费视频精选在线观看| 免费a在线观看| 亚洲国产aⅴ精品一区二区| 亚洲欧美久久久| 亚洲另类在线视频| 亚洲天堂免费在线| 成全在线观看免费完整动漫| 污污在线观看| 色综合五月天| 久久亚洲二区三区| 欧美zozo另类异族| 欧美极度另类videos高清| а√天堂中文在线资源bt在线| 成人性生交大片免费看96| 另类小说欧美激情| 日本精品一区二区三区四区的功能| 欧美老女人性生活| 久久综合久中文字幕青草| 亚洲第一区第二区| 欧美黄网站色视频| 欧美影视资讯| 亚洲成aⅴ人片久久青草影院| 狠狠网亚洲精品| 日韩欧美国产成人| 欧美日本啪啪无遮挡网站| www.免费黄色| 久久精品91久久久久久再现| 91精品1区2区| 一区二区久久久久| 国产一区二区三区中文| 成人h在线观看| 国产网站一区二区| 色综合桃花网| 先锋影音男人| 国产精品视频一二三| 香蕉久久免费电影| 国产69精品久久久久99| 99久免费精品视频在线观看| 亚洲一区站长工具| 一色屋成人免费精品网| 亚洲精品一二三| 麻豆一区二区| 天天摸日日操| 欧美日韩精品高清| 欧美日一区二区三区在线观看国产免| 特级黄国产片一级视频播放| 美洲天堂一区二卡三卡四卡视频| 在线观看老湿视频福利| 亚洲日本在线a| 一区二区三区在线| 国产精品资源在线看| 欧美精品欧美精品系列| 精品视频二区三区| 超碰在线97国产| 99国产精品久久久久久久成人热| 亚洲成av人片一区二区三区| 海角国产乱辈乱精品视频| 久草在线免费福利资源| 日韩不卡一区| 亚洲视频你懂的| 久久全国免费视频| 3d成人动漫在线| 亚洲第一偷拍| 亚洲超碰精品一区二区| 久久久久久91| 秋霞成人影院| 亚洲高清自拍| 欧美最猛黑人xxxxx猛交| 欧美jizzhd精品欧美满| 欧美巨大丰满猛性社交| 蜜臀99久久精品久久久久久软件| 欧美丰满美乳xxx高潮www| 日本一卡2卡三卡4卡网站| 日本国产欧美| 国产在线精品一区二区不卡了| 精品黑人一区二区三区久久| 2021av网| 成人偷拍自拍| 中文在线一区二区| 欧美极品美女视频网站在线观看免费| av中文资源在线| 欧美日韩视频一区二区三区| 黑人巨大精品欧美一区二区免费| 欧美精品videossex变态| 永久免费毛片在线播放| 狠狠色2019综合网| 精品亚洲一区二区三区在线观看| 午夜精彩视频| 精品久久久久中文字幕小说 | jizz久久久久久| 国产成人精品三级麻豆| 亚洲人a成www在线影院| 中文字幕网在线| 日韩在线观看| 黄色一区二区三区| 国产成人香蕉在线视频fuz| 日本美女久久| av一二三不卡影片| 久久九九热免费视频| 3p在线观看| 美女爽到呻吟久久久久| 精品久久久网站| 全部孕妇毛片丰满孕妇孕| 欧美一级精品片在线看| 同产精品九九九| 午夜私人影院在线观看| 日韩在线精品强乱中文字幕| 中文字幕资源网在线观看免费| 精品高清在线| 亚洲一级二级三级| 精品xxxxxbbbb欧美中文| 久久久免费人体| 久久免费美女视频| 高清一区二区三区四区五区| 欧美78videosex性欧美| 久久99久久99| 国产亚洲欧美一区| аⅴ资源新版在线天堂| 男人的天堂亚洲| 亚洲大尺度美女在线| 伊人中文字幕在线| 国产字幕视频一区二区| 欧美一区二区三区精品| 永久www成人看片| 精精国产xxxx视频在线| 中文在线天堂网| 天天影视欧美综合在线观看| 在线免费精品视频| 天天草天天爽| 欧美日韩在线二区| 狠狠躁夜夜躁久久躁别揉| 免费在线看大片无需流量| 精品国内亚洲2022精品成人| 一二三四社区欧美黄| 浮力国产第一页| 精品深夜福利视频| 亚洲成人一区在线| 可以免费观看的黄色网址| 亚洲自拍都市欧美小说| 黄色成人av在线| jizz在线视频| 成人影视亚洲图片在线| 欧美亚洲动漫精品| 免费在线黄网| 一区精品久久| 亚洲精品短视频| 91网在线播放| 精品在线观看免费| 欧美成aaa人片免费看| av漫画网站在线观看| 99久久夜色精品国产网站| 91高清视频在线免费观看| 成人看片在线观看| 国产精品久久久久久久久久免费看 | 成年大片免费视频播放二级| 精品国产精品国产偷麻豆| 在线中文字幕一区二区| 国产乱妇乱子| 成人p站proumb入口| sm在线观看| 91网站视频在线观看| 一区三区三区不卡| 精品国产18久久久久久二百| 亚洲黄色尤物视频| 成**人特级毛片www免费| 日本不卡电影| 日韩欧美不卡一区| av在线三区| 国产精品夜夜嗨| 97视频在线观看成人| 99精品国产九九国产精品| 一级精品视频在线观看宜春院 | 国产三级视频在线| 91精品国产自产在线丝袜啪| 一区免费观看视频| 人人干人人草| 欧美wwwww| 欧美大片日本大片免费观看| 成人在线免费视频| 国产一区久久久| 亚洲电影先锋| 综合中文字幕| 色综合久久久久综合| 国内福利写真片视频在线| 日本在线观看不卡视频| 欧美精品一区二区免费| 成人在线免费av| 亚洲国产精品久久艾草纯爱| 国语对白在线视频| 国产精品呻吟| 欧美精品一区二区三区国产精品| 欧美综合社区国产| 色橹橹欧美在线观看视频高清| 欧美日韩国产丝袜美女| 亚洲美女主播视频免费观看| 久久一区激情| 色综合久久天天综线观看| 欧美性www| 未满十八勿进黄网站一区不卡| 亚洲永久精品大片| 激情婷婷丁香| 日韩精品午夜视频| 国内精品视频在线| 国产成人在线中文字幕| 欧美偷拍一区二区| 啊v在线视频| 久久久综合精品| 女人爱爱视频| 亚洲午夜极品| 久久久av网站| 欧美另类中文字幕| 精品视频1区2区| 蜜桃视频网站在线| 国产欧美日韩另类一区| 福利视频导航网| 午夜亚洲伦理| 久久全球大尺度高清视频| 国产另类在线| 欧美不卡一区二区三区| av资源一区| 亚洲国产日韩a在线播放性色| 三上悠亚在线观看| 国产精品伊人色| 国产自产视频| 欧美午夜国产| 欧美理论电影在线播放| 丁香婷婷成人| 欧美精品一区二| 新版的欧美在线视频| 天天色 色综合| 黄色av网站在线| 久久免费美女视频| 天堂色在线视频| 久久国产精品99久久久久久老狼| 中文岛国精品亚洲一区| 亚洲mv大片欧洲mv大片| 日韩少妇与小伙激情| 欧美国产美女| 日韩欧美成人免费视频| 日本在线视频1区| 91在线精品一区二区| 黄瓜视频在线观看| 久久久噜噜噜|