“Carbon peaking” and “carbon neutrality” have been released as a signal that China is on the path of green and low-carbon development. As one of the green finance tools, green bonds play an important role in green and low-carbon technological innovation and industrial development. Although the release of Catalogue of Green Bond Support Projects (2021) has become a milestone in the unification of China's green bond classification standards, they are still incompatible with international standards, which lead to ‘green washing’ and high overseas issuance costs problems. After comparing the bond classification standards at home and abroad, this paper puts forward policy suggestions for development of the construction of green bonds in China.

Ting Zhang. How to Build China's Green Bond Standard System under the Background of "Double Carbon". Academic Journal of Business & Management (2023) Vol. 5, Issue 7: 5-10. https://doi.org/10.25236/AJBM.2023.050702.

[1] People's Bank of China, Guiding Opinions on Building a Green Financial System, Ministry of Finance and other seven ministries and commissions, August 31st, 2016.

[2] Green Bond Principles: Voluntary Process Guidelines for Issuing Green Bonds, ICMA, June 2021.

[3] China Green Bond Market Report, 2021, the Climate Bonds Initiative and China Central Depository & Clearing Research Centre.

[4] Hong Yanrong, On the Development Model of Green Bonds under the Background of Carbon Peak and Carbon Neutralization (in Chinese) [J]. Legal Science (Journal of Northwest University of Political Science and Law), 2022.

[5] Zhang Chenxu, Comparative Study on Regulatory Standards of Green Bonds (in Chinese) [J]. Fujian Forum, Humanities and Social Sciences Edition, 2018.

[6] Wan Zhihong, Zeng Gang, International Green Bond Market: Current Situation, Experience and Enlightenment (in Chinese) [J]. Financial Forum, 2016.

[7] Xie Yan, International Comparison and Reference of Green Bonds (in Chinese) [J]. Shanghai Finance, 2017.

[8] Chen Xiao, Zhang Ming, China’s Green Bond Market: Characteristics, Facts, Endogenous Dynamics, and Existing Challenges (in Chinese) [J]. International Economic Review, 2022.

[9] CICC Research Group, How the Securities Industry Serves the "Double Carbon" Goal (in Chinese) [J]. Securities Market Guide, 2022.

[10] Wang Yao, Xu Nan, The Development of Chinese Green Bonds and A Comparative Study of Chinese and Foreign Standards (in Chinese) [J]. Financial Forum, 2016.

[11] Climate Bonds Standard [S], Version 3. 0, CBI, 2019.

[12] Green Bond Standard Regulation [S], European Commission, 2021.

[13] People's Bank of China, Green Bond Support Catalogue (2021), Development and Reform Commission, Securities Regulatory Commission, April 21, 2021.

[14] Marquis C. and Toffel M. W., When Do Firms Greenwash? Corporate Visibility, Civil Society Scrutiny, and Environmental Disclosure [J]. Social Science Electronic Publishing, 2012.

[15] Gong Fang, Yuan Yuze, taking multiple measures to promote the development of green bonds in China [R]. Shenwan Hongyuan Research Report (in Chinese), 2011.