In a significant move towards sustainability, China's central bank, alongside the Ministry of Ecology and Environment, the General Administration of Financial Supervision, and the Securities Regulatory Commission, convened a joint symposium on green financial services last Friday. The event, aimed at building a \"Beautiful China,\" underscored the importance of collaborative efforts across financial and environmental sectors.
The symposium emphasized the need for financial management departments, ecological environment departments, financial institutions, and relevant enterprises to enhance cross-departmental and cross-field cooperation. By strengthening overall planning and top-level design, these entities aim to create a cohesive strategy for sustainable development.
Key actions discussed included the expansion of China's carbon market and the reinforcement of technical support in carbon accounting. Additionally, the conference highlighted the importance of third-party assessment and certification, as well as the improvement of the national voluntary emission reduction trading market for greenhouse gases. Financial institutions and robust financial infrastructure are expected to play pivotal roles in these initiatives.
Furthermore, the symposium stressed that financial institutions must integrate the green transformation of the economy and society into their overarching strategies. This involves incorporating climate risk into their risk management systems and enhancing green finance products and services. The discussion also explored innovative financial solutions such as environmental equity collateral loans, loans linked to environmental benefits, and green credit asset securitization, aiming to broaden project repayment and guarantee methods.
By fostering such comprehensive and innovative approaches, China seeks to solidify its commitment to sustainable growth and environmental stewardship.
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China's central bank holds joint symposium on green financial services
cgtn.com
