Caixin
Dec 10, 2022 07:02 PM
CHINA

China Central Bank Official Calls for Orderly Carbon Reduction

Photo: VCG
Photo: VCG

(Bloomberg) — China should pursue any transition to green economic activity in an orderly manner and avoid any “campaign-style” carbon reductions at its financial institutions, a deputy central bank governor said.

Financial institutions must resist exit from high-carbon assets by enhancing their ability to identify green and low-carbon economic activities and coping with financial risks linked to climate change, the People’s Bank of China’s Xuan Changneng, said Saturday at the Bund Summit in Shanghai.

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