Green development is one of the "five development concepts" put forward by the Fifth Plenary Session of the 18th CPC Central Committee. The report of the 19th National Congress of the Communist Party of China pointed out that it is necessary to develop green finance and promote green development. In August 2016, the People's Bank of China and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Building a Green Financial System". In March 2017, the CSRC issued the "Guiding Opinions on Supporting the Development of Green Bonds", aiming to play a financial role to the green economy.
Green securities generally refer to securities that are mainly used to support green industry projects, including green bonds, green indices and green fund concentrate on green products. The development of green securities is conducive to the function of optimizing the allocation of resources in the capital market and serving the real economy. And it is also critical for supporting and promoting the construction of ecological civilization, and implementing the concept of green and sustainable development.
The Shanghai Stock Exchange plays a key role on promoting the innovation and development of green securities, supporting the listing of green enterprises. What`s more, it puts great emphasis on developing the green bond market, accelerating the innovation of green index products, and deepening international cooperation in green finance. In June 2017, the Shanghai Stock Exchange and the Luxembourg Stock Exchange jointly launched the Green Bond Index. The two parties signed a memorandum of cooperation in September to deepen cooperation in the field of green bonds. In September 2017, the Shanghai Stock Exchange officially joined the United Nations Sustainable Stock Exchange initiative and became the first stock exchange in the country to join the initiative. In June 2018, the Board Meeting of Trustees of the World Federation of Exchanges (WFE), hosted by the Shanghai Stock Exchange, clarified that global exchanges should follow the principles of sustainable exchanges. In the same month, the Shanghai Stock Exchange and the Luxembourg Exchange officially launched the Green Bond Channel.
Action Plan for Carbon Peaking and Carbon Neutrality of the Shanghai Stock Exchange during the 14th Five-year Plan Period
For more information on Green Bond Channel, pleasevisit： https://www.bourse.lu/chinese-domestic-green-bond-channel