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CCDC launches world’s first climate-aligned bond index

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China Central Depository & Clearing (CCDC) has partnered with Climate Bonds Initiative (CBI) and CECEP Consulting to launch the ChinaBond China Climate-Aligned Bond Index – the world’s first climate-aligned bond index.

Climate-aligned bonds are used to finance low carbon and climate adaptation infrastructure, including labelled green bonds with use of proceeds defined and labelled as green, and a larger universe of bonds financing climate-aligned assets that do not carry a green label.
 
Climate-aligned bonds are financing assets across various climate themes: energy, transportation, construction, water, waste pollution control, agriculture and forestry.
 
In order to conform to international standards and satisfy the demand of international investors, CBI and CECEP Consulting identify climate-aligned bonds for the index based on the use of funds and the information of the issuers’ industry, main business and main products. 
 
According to the data analysis, the base date of the ChinaBond China Climate-Aligned Bond Index has been set as 31 December 2009 and the base value is 100. As of 29 July 2016, the index has 278 constituents, a cap-weighted duration of 5.66, a total return index return of 10.24 per cent in the recent year and a market value outstanding of RMB1.31 trillion (USD194.6 billion). 
 
The launch of ChinaBond China Climate-Aligned Bond Index now provides a series of indicators to reflect the price change of overall climate-aligned bond market and climate-aligned investment performance benchmark for domestic and foreign investors.

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