China Green Bulletin: PBOC Official Points Out Climate Risks Facing Finance
PBOC deputy governor urges financial institutes to consider climate risks
In an article published on China Finance, Liu Guiping, the deputy governor of People’s Bank of China (PBOC) urged financial institutes to take climate risks into consideration as part of their risk management strategy. The article also introduced the general results of the first round of climate-related pressure testing led by PBOC in November, which covered China’s 23 most important commercial banks and two of its policy banks. Liu said the PBOC will launch more tests in the future for evaluating the financial risks of all sectors, amid the low carbon trend around the world. China will also roll out financial tools and standards to support the smooth transition of those energy-intensive industries.
Caixin Insight, the research arm of Caixin Global, is a strategic advisory helping clients assess policy risk and macroeconomics in China.
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