China Green Bulletin: Central Bank Calls for Clearer Classifications for Green Finance
PBOC official pushes for green finance to be classified more clearly
At the 2022 Tsinghua PBCSF Global Finance Forum, Wang Xin, head of the research bureau of the People’s Bank of China (PBOC), called for separating carbon emission reduction from eco-environmental protection projects in green finance.
Wang said the green finance concept is currently quite broad. To better formulate incentive and constraint policies, carbon emission reduction, biodiversity preservation and environmental protection activities should be better differentiated and defined. For example, he said, the production and use of clean coal, which had been removed from the 2021 Catalogue of Projects Supported by Green Bonds, did not reduce carbon emissions, but was beneficial to eco-environmental conservation. Financing carbon emission cuts have taken on greater importance since China announced its ambitious carbon goals. By the end of 2021, the balance of green loans in China was about 16 trillion yuan, among which loans that encourage carbon emission reduction accounted for 67%.
Caixin Insight, the research arm of Caixin Global, is a strategic advisory helping clients assess policy risk and macroeconomics in China.
- 1Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler
- 2Meituan Enters Open-Source AI Race With LongCat Model
- 3Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million
- 4End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently
- 5China Rolls Out Subsidized Consumer Loans to Boost Spending
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas
Sign in with Google
Sign in with Facebook
Sign in with 财新