This research project seeks to explore the development of green bond markets in UK and China, collaboration between British and Chinese financial institutions, and low carbon transitions.
This research project seeks to explore the relationship between three processes: development of green bond markets in UK and China, collaboration between British and Chinese financial institutions with regard to green bonds, and low carbon transitions in these two countries.
Green bonds are an efficient way of raising low-cost finance for green investment, which explains why many countries are actively exploring green bonds as a means of tackling climate change. Sino-British collaboration on transnational green bonds will help improve the efficiency of both markets, lower financing costs for green projects and raise the success rate of bond issuance. This research project is set in the context of the 7th China-U.K. Economic and Financial Dialogue in 2015, which recognised the 'unrivalled depth and liquidity of London's capital markets and the opportunities for raising finance' and committed China and UK to the strengthening of long-term collaboration in these markets. It seeks to explore six specific pathways, including joint and cross-border issuance, transnational trading platform, joint regulation and joint credit rating, financial joint ventures, in order to promote comprehensive collaboration between China and UK in financial services in general and green bonds in particular.
This project is a joint initiative between the Bartlett Development Planning Unit, University College London and the Institute of Economics, Shanghai Academy of Social Sciences.
Principle investigator: Dr Le-Yin ZHANG, University College London, UK
Co-investigator: Prof Yanming YAN, Shanghai Academy of Social Sciences, PRC