The China Central Depository and Clearing (CCDC, or ChinaBond) has published a new environment-focused standard for green bond disclosures to prevent greenwashing in China’s green bond market. Made up of 44 environmental indicators, the standard will ensure green bond issuers are disclosing all of the environmental benefits that will be achieved through the investment of proceeds. The indicators include solid waste processing capacity, water resource recycling amount, and the number of biological species protected – whether or not an indicator is mandatory will depend on the type of green project. For example, a project to restore an ecological environment will involve eight mandatory indicators and 11 optional indicators. Out of the 44 indicators, only one is qualitative, requiring a description of the environmental benefits brought by the project, such as how a project’s facilities may improve energy efficiency or reduce air pollution.