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
Russian theater director and playwright go on trial over a play authorities say justifies terrorism
TALLINN, Estonia (AP) — A Russian court on Monday opened the trial of a theater director and a playw2024-05-22Target starts price war with Walmart by slashing the cost of 5,000 popular items
Target will be lowering prices on at least 5,000 frequently bought products ranging from milk to dia2024-05-22Online reading or offline clubs? Young Chinese embrace both in digital era
Traveling more than 1,000 kilometers from the Ningxia Hui Autonomous Region to Beijing, literature l2024-05-22Padres second baseman Xander Bogaerts leaves game against Braves with shoulder injury
ATLANTA (AP) — San Diego Padres second baseman Xander Bogaerts injured his left shoulder and was rem2024-05-22NBA playoffs: Edwards leads Wolves to 98
DENVER (AP) — Anthony Edwards overcame a slow start and the Timberwolves roared back from a 20-point2024-05-22- Mark Wahlberg's latest film will be flying into theaters this fall, with Lionsgate setting an Octobe2024-05-22
atest comment