A recent report issued by the Climate Bond Initiative states that the British non-profit organization is seeking to grow its partnership with the Chinese community in green investment and finance.

The report states that both London and China are to provide more green bonds.

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Other items included in the presentation are the organization's plans to translate policy strategies into green projects, jointly promote green market awareness, increase central bank research collaboration, and work to harmonize green definitions.

Climate Bond Initiative CEO Sean Kidney stated that London and China have the capability for green finance because China is the second world economic powerhouse while the UK is a globally recognized financial center.

China came in first as the lead contributor to green debt this year.

As of July, out of the 25.69 billion pounds ($33.83billion) green bonds issued globally, China issued 9.02 billion pounds. This is a massive difference from last year where out of 27.46 billion pounds issued, China stood at 0.99 billion.

For the first time, green finance was added to the agenda of the recently ended G20 Summit in Hangzhou, China.

Branded as the G20 Green Finance Study Group (GFSG), the event was chaired by both the Bank of England and the People's Bank of China.

An opinion-based publication was presented during the summit. It was not only accepted, but also endorsed by the leaders present at the G20 summit.

The GFSG also created new partnerships with a variety of private-sector participants at the summit.

"The positioning of the green finance panel in the finance track at the G20 this year shows China has used its leadership to make sure green finance is recognized as a financial issue and not just an environmental one," said Michael Sheren, a senior advisor at the Bank of England.

Tagschina, British, Climate Bond Initiative, G20 summit, GFSG