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Capital Markets

Environmental bonds stained by 'green washing'

China's controversial Three Gorges dam raised $840m for wind power projects

The operator of China's Three Gorges Dam has issued green bonds, despite coming under fire for its own environmental record.   © Reuters

TOKYO -- The popularity of environmental, social and governance investing has risen sharply in recent years, but many so-called green bonds have drawn accusations of "green washing" for having little, if any, environmental benefit.

Green bonds raise funds that are used to subsidize projects with an environmental benefit. The size of issuance has risen in tandem with their popularity.

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