On Friday, China’s central bank, along with the Ministry of Ecology and Environment, the General Administration of Financial Supervision, and the Securities Regulatory Commission, jointly held a symposium focused on green financial services to support the construction of a Beautiful China.
During the conference, officials emphasized the need for strengthened collaboration among financial management departments, environmental agencies, financial institutions, and enterprises. The goal is to enhance cross-departmental and cross-field cooperation, improve overall planning, and fortify top-level design to advance green finance initiatives.
Key actions discussed at the symposium included expanding the coverage of China’s carbon market and bolstering technical support in areas such as carbon accounting, third-party assessments, and certification processes. Participants also explored ways to improve the national voluntary emission reduction trading market for greenhouse gases, highlighting the crucial role of financial institutions and infrastructure in these efforts.
The conference underscored the importance of financial institutions integrating the green transformation of the economy and society into their overarching strategies. It was suggested that climate risk should be incorporated into their comprehensive risk management systems. Additionally, financial institutions were encouraged to enhance their offerings of green finance products and services, broaden repayment and guarantee methods for projects, and innovate by exploring products like environmental equity collateral loans, loans linked to environmental benefits, and green credit asset securitization.
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China's central bank holds joint symposium on green financial services
cgtn.com
