2025长三角绿色债券发展报告

Core Insights - The report titled "2025 Yangtze River Delta Green Bond Development Report" highlights the role of green finance in facilitating the region's low-carbon transition, indicating that after a short-term adjustment in 2024, the market is poised for growth [1][2]. Policy Developments - National and local governments have introduced various guiding documents and incentive measures to support green bond development, including the launch of a green finance service platform in Shanghai and the establishment of evaluation standards for financing entities in Jiangsu [2][18]. - The report outlines a comprehensive policy framework for green bond development in the Yangtze River Delta, promoting regional collaboration in green finance innovation [2]. Market Analysis - In 2024, the issuance scale of green bonds in the Yangtze River Delta saw a decline, with 261 "green labeled" bonds issued, totaling 268.04 billion yuan, and 167 "green tagged" bonds amounting to 146.96 billion yuan [2]. - Jiangsu led in issuance scale, while Zhejiang and Shanghai showed active innovation in bond types, and Anhui successfully issued the first green financial bond in the financial leasing sector [2]. - The market structure is undergoing adjustments, with local government and corporate credit bonds dominating, while the proportion of green financial bonds has decreased [2]. Environmental Impact Disclosure - The report emphasizes the importance of environmental impact disclosure for the sustainable development of the green bond market, noting that over 90% of "green tagged" bonds disclosed environmental impact data in 2024 [3]. - These bonds are estimated to reduce carbon dioxide emissions by approximately 7.79 million tons annually and replace 3.11 million tons of standard coal [3]. - There are regional disparities in disclosure quality, with Shanghai and Anhui leading in completeness, while Jiangsu and Zhejiang have room for improvement [3]. Future Development Recommendations - The report suggests four key areas to enhance the high-quality development of the green bond market: incentivizing enterprises to issue green bonds, exploring a framework for domestic green government bond issuance, establishing a unified directory and standards for transition bonds, and strengthening international cooperation to align China's green standards with global practices [3].