China to step up financial support for green development
Chinese authorities have issued guidelines to strengthen the financial support for green and low-carbon development.
According to the document jointly released by several government departments including the People's Bank of China (PBOC), the country will basically build a world-leading financial support system for green development in the next five years and make policies more coordinated, effective and mature by 2035, with better resource allocation, risk management and market pricing.
China will formulate and introduce unified carbon accounting standards for financial institutions, and promote institutions and financing entities to make environmental information disclosure.
Efforts will be made to gradually expand the scope of trading entities suitable for the development of China's carbon market, increase credit support for green development and low-carbon transformation in energy, industry, transportation, construction and other fields, and support eligible enterprises to list at home and abroad for financing or refinancing.
The guidelines also put forward measures to improve laws and regulations, enhance green finance assessment and evaluation mechanisms, enrich relevant monetary policy tools, and deepen regional reform of green finance.
The PBOC said work will be done to incorporate climate change-related risks into the macro-prudential policy framework, and to encourage financial institutions to accordingly improve their risk-control systems and corporate governance frameworks.
Related articles
Zoe Saldana looks ethereal in sheer beige Chloe dress with statement gold belt and over
Zoe Saldana made her grand arrival at the highly-anticipated 2024 Met Gala in New York City on Monda2024-05-08AI will continue to make waves in 2024
MA XUEJING/CHINA DAILYIn the fast-changing global economic landscape in 2023, artificial intelligenc2024-05-08Night economy flourished at food street in Shaanxi
Beijing, August2(Youth.cn) -On August 1st, 2023, in Xianyang, ShaanxiProvince, the Fuyuan Alley host2024-05-08China's experience with gender equality shared at UN
Huang Xiaowei, vic-president of the All-China Women's Federation, shares China's experience with gen2024-05-08Iris Law catches the eye in a semi
Iris Law sent temperatures soaring on Monday as she attended the Après' star-studded Met Gala afterp2024-05-08Neatly arranged new energy vehicles await shipment to overseas markets
Beijing, March21 (Youth.cn) -On March 20th, 2024, in the Economic and Technological Development Zone2024-05-08
atest comment