HONG KONG -- Green bonds are growing more popular in Asia as companies and countries seek funding for steps to deal with climate change and investors place more weight on environmental issues.
The 2015 Paris Agreement on climate change has spurred Asian governments and businesses to invest more in such areas as renewable energy. Bank of America Merrill Lynch estimates that the funding needed for climate change countermeasures will swell to $500 billion by 2030 from $275 billion this year. Green bonds, which are issued specifically to fund environmentally friendly projects, can help meet this need for cash.
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