October brought a curious twist on the sustainable financing theme, when a Chinese oil refiner raised Rmb1 billion ($140 million) of green bonds to fund the development of a petrochemical complex.
You read that right.
Chemicals firm Jiangsu Eastern Shenghong raised the bond, and it was something of a landmark: the largest single green corporate bond issued by a privately owned firm in China. The petrochemical refinery that will be built with this green funding will have a processing capacity of 16 million tonnes of crude oil a year.
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