China and Luxembourg unveil climate finance initiatives

Luxembourg has deepened its green bond credentials after agreeing climate finance initiatives with China.

The agreement follows a meeting last week in China between Luxembourg’s Minister of Finance, Pierre Gramegna, and Minister of Finance Xiao Jie and Governor Zhou Xiaochuan of the of the People’s Bank of China.

The International Institute of Green Finance, the Central University of Finance and Economics (CUFE), the Luxembourg Stock Exchange (LuxSE) and China Securities Index jointly launched the CSI 300 Green Leading Stock Index.

The index is intended to be a yardstick of value for investors to measure the performance of green Chinese listed companies.

Also launched by the LuxSE and Shanghai Stock Exchange (SSE) was the first green bond channel between the two countries.

It will enable SSE-listed green bonds to be displayed on the Luxembourg Green Exchange.

The Industrial and Commercial Bank of China Luxembourg and the LuxSE also jointly launched the bank’s inaugural issue of green bonds to be listed on Luxembourg LGX.

The proceeds of the green bonds will be used to support China’s Belt and Road Initiative and refinance eligible green projects in domestic provinces and foreign countries key to the initiative.

©2017 funds europe

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