UNDP released “Establishing China’s Green Financial System: Progress Report 2017” on November 16th during COP23. The report finds that China - which put green finance on the G20 agenda during its 2016 presidency - is following through on its political commitment to boost the financing required to do this. The report looks particularly at progress since the State Council in August 2016 approved a set of recommendations for action on greening China’s financial system.
The report finds that China – which put green finance on the G20 agenda during its 2016 presidency – is following through on its political commitment to boost the financing required to do this. The report looks particularly at progress since the State Council in August 2016 approved a set of recommendations for action on greening China’s financial system.
The report identifies many specific advances, including:
China has become a new growth driver in the global green bonds market. In the first half of 2017, China issued 36 green bonds worth RMB77.67 billion (US$11.7 billion). Of these bonds, the number and size of bonds grew 278 per cent and 28 per cent respectively compared with 2016.
Many provinces and cities have established regional green development funds. By the end of 2016, 265 green funds were registered with the Asset Management Association of China, of which 215 were green industry funds. Some 121 of these were established in 2016.
By the end of June 2017, 7,826 green and low-carbon projects, with a total investment of RMB6.4 trillion (US$0.96 trillion), were included in the national public-private partnerships projects catalogue, accounting for 57.7 per cent of the projects and 39.3 per cent of the investments in that catalogue.
China established five distinct green finance pilot zones to explore different development models for the local green financial system against different backgrounds.
The Chinese government and the business community have started to attach great importance to developing a green industry chain for outbound investment. With the Guidelines on Promoting Green Belt and Road, the APEC Green Supply Chain Network, and the Initiative on Environmental Risk Management for China’s Outbound Investment, China is going global in its green investment practices.
- CBCSD and Members Participated and Suggested on the Project for Technical Regulation on Low-carbon Pilot Community
- CBCSD and Members Participated in the APEC Cooperation Network Construction Forum of Green Supply Chain
- Calculation Method of CO2 Emissions in Petroleum and Natural Gas Exploitation Enterprises & Calculation Method of CO2 Emissions in Water Network of Chemical Enterprises
- CBCSD Attended the Workshop for Environmental Protection and Sustainable Development and Delivered Introductions
- WBCSD: Tackling the Challenge, How to Make Informed Choices on Forest Product?
- The National New-Type Urbanization Plan Released, Board Members of CBCSD Help the Sustainable Development of Cities
- Board members of CBCSD Actively Participated in the Carbon Trading and International Climate Change Process
- Two industrial Standards Compiled by CBCSD Passed Examination
- Widespread Use of the Achievements Businesses Energy Saving and Greenhouse Gas Management
- CBCSD held Chemical industry enterprise value chain (range 3) greenhouse gas emissions, accounting and reporting guidelines