China is set to release new "green bond" standards that would remove coal financial support, Reuters reported March 21, citing people familiar with the matter. The previous inclusion of "clean coal" on a list of eligible technologies has put the country at odds with international investors and environmental groups.

China's central bank is expected to publish the revised green bond standards later in March, according to the report.

The central bank and the National Development and Reform Commission did not immediately respond to Reuter's request for comment.

Liu Jinyan, senior campaigner for environmental group Greenpeace, said that excluding coal from the green bond market would "accelerate China's energy transition and green development."