China Holds Conference on Green Finance for Building a Beautiful Country

On May 10, the People’s Bank of China, the Ministry of Ecology and Environment, the State Administration of Financial Supervision, and the China Securities Regulatory Commission held a conference on green finance to serve the construction of a beautiful China, conduct and examine the overall arrangements of the Central Party Committee and the State Council on the comprehensive promotion of building a beautiful China, and financial exchange Support relevant experiences and practices in green and low-carbon development and building a beautiful China, and study and use the next level of work. Pan Gongsheng, Secretary of the Party Committee and Governor of the People’s Bank of China, Huang Runqiu, Minister of the Ministry of Ecology and Environment, Fu Wanjun, Deputy Director of the State Administration for Financial Supervision, and Wang Jianjun, Vice chairman of the China Securities Regulatory Commission, attended the meeting and delivered speeches. Zhu Hexin, deputy governor of the People’s Bank of China, presided over the meeting.

The meeting pointed out that building a beautiful China is a major strategic arrangement made by the Central Committee of the Party with Comrade Xi Jinping as the core based on the overall situation of socialist modernization. General Secretary Xi Jinping at the National Ecological and Environmental Protection Conference emphasized to “strengthen financial support and vigorously develop green finance”, providing basic compliance and operational guidance for green finance to serve China’s construction beautiful The good development of green finance is an indispensable requirement for implementing the decisions and resolutions of the Party Central Committee and serving the construction of a beautiful China. It is an important part of supporting the green transformation of the real economy and achieving high quality financial development. It is also an important part of tackling the risks of climate change.

The meeting considered that in recent years, the ecological environment sector has been actively making institutional innovations in climate investment and financing, carbon market construction, and environmental development models. (EOD), creating conditions for financial institutions to participate in tackling climate change. and ecosystem protection and restoration. The financial sector has been constantly studying and achieving good results in the construction of standard green financial systems, information disclosure, incentive and prevention mechanisms, product and service innovation, and international cooperation, laying a good foundation for green finance to build a beautiful site. China.

The meeting pointed out that the mission and general responsibility of the financial system and the ecological environment system is to give full play to the role of green finance and promote the construction of a beautiful China. Financial management departments, ecological environment departments, financial institutions and relevant enterprises must strengthen cross-departmental and cross-field cooperation, strengthen overall planning, and further strengthen high-level planning. Promote the construction of the environmental factors market, gradually expand the coverage of my country’s carbon market industry in stages, and develop the voluntary national greenhouse gas emission reduction trading market. Make good use of the professional advantages of relevant ecological and environmental institutions and units to strengthen technical support in carbon accounting, assessment and third-party certification, etc. Give full play to the active role of financial institutions and financial infrastructure to further support the construction of the carbon market. Strengthen funding coordination among the three government parties, banks and enterprises, and establish a joint promotion mechanism for key projects that serve the construction of a beautiful China.

The meeting emphasized that all financial institutions should fully consider the possibility of economic and social green transformation in their overall strategies, integrate climate risks into the overall risk management system, and accept and support the needs of economic and social transformation and development. Improve organizational building around green finance, strengthen assessment and incentives, and improve the professional level of financial services. Strengthen green financial products and services, expand repayment and project guarantee mechanisms, and explore innovative products such as environmental equity mortgages and guarantee loans, loans related to environmental benefits, and green credit asset securitization. Effectively improve the accuracy of green financial investment, improve the level of information disclosure and carbon accounting, and prevent “green locking”, “green locking” and “false transformation”. It is necessary to continue to increase financial support for energy conservation, carbon reduction, ecological and environmental protection and other areas, and ensure reasonable support for low carbon transformation of high carbon industries such as coal and electricity. The financial management department will work with the Ministry of Ecology and Environment to further develop policy arrangements, establish a regular project proposal mechanism, strengthen monitoring and evaluation, policy coordination, transparency and promotion, and actively promoting green financial services to achieve effective results in the construction of beautiful China.

The National Energy Agency, China Three Gorges Corporation, the Environmental and Economic Policy Research Center of the Ministry of Ecology and Environment and other units introduced green finance needs and related work. China Development Bank, Industrial Bank, and Industrial Securities contributed their green finance work experience.

Comrades in charge of relevant departments and bureaus of the People’s Bank of China, the Ministry of Ecology and Environment, the State Administration for Financial Supervision, and the China Securities Regulatory Commission, responsible associates of development and policy banks, large commercial banks owned by the state. , some joint-stock banks, securities companies, and financing companies, and some key officials in the field of ecological and environmental protection Responsible associates from units and enterprises were present at the meeting. Responsible associates from the branches of the People’s Bank of China and ecological environment departments in all regions (cities, autonomous regions) and cities under individual state planning attended the meeting at the center of ‘finger.