Best green credit rating agency 2020
China Chengxin International Credit Rating
China Chengxin International Credit Rating (CCXI), which has over 27 years of experience in rating domestic bonds, has long had a dominant market share in the wider onshore bond market. That now applies to the green bond market, too.
The firm, led by president Yan Yan, rated 72 green bonds last year, covering 53.7% of all green bonds issued, worth a total of Rmb107.8 billion ($15.1 billion), or 52.2% of the total volume, putting it well ahead of its closest competitor.
As a member of the council of China Green Finance Committee and a founding member of its working group on rating green bonds, CCXI published the first systematic rating methodology for green bonds in 2016.
It became a signatory of the United Nations Principles for Responsible Investment in 2016 and a member of the International Capital Market Association in 2017.
CCXI has solidified its leading position in the onshore green-bond market over the years. It will take time – and considerable effort – for other credit rating agencies to catch up.