China-Hungary Green Bond Cooperation: A Review and Promising Prospects

Hu, Bin and Chen, Chaoyi and Zhang, Yueran (2024) China-Hungary Green Bond Cooperation: A Review and Promising Prospects. FINANCIAL AND ECONOMIC REVIEW, 23 (4). pp. 204-218. ISSN 2415-9271

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Abstract

Amid increasing climate change challenges, the European Union (EU) aims to reduce net greenhouse gas emissions by 90 per cent by 2040, necessitating substantial green financing, which aligns with China’s commitment to carbon neutrality by 2060. This shared objective creates opportunities for deeper collaboration in green finance and technology. Hungary, a key partner in China's green finance initiatives within the EU, has significantly strengthened its economic ties with China. This paper reviews past China-Hungary green bond collaborations and offers recommendations to enhance future cooperation. Key suggestions include improving communication and coordination to manage financial risks, advocating for bidirectional green bond market openings, establishing mutual recognition mechanisms for green bond standards and enhancing transparency through improved information disclosure systems.

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