Our reporter Ci Yupeng reported from Beijing
The reporter of China Business News noted that the banking and insurance regulatory bureaus of Beijing, Tianjin and Hebei recently jointly issued the Notice on Coordinated Promotion of Green Finance to Promote the High-quality Development of Beijing-Tianjin-Hebei (hereinafter referred to as the "Notice"), clearly promoting the development of green finance.
The reporter noted that the Notice requires strengthening information sharing, establishing a Beijing-Tianjin-Hebei green finance information sharing mechanism, and cooperating with government authorities at the industry level to establish a green enterprise (project) database. At the same time, it is required to optimize the green credit guarantee method. Industry insiders said that in the process of coordinated development of Beijing-Tianjin-Hebei, the transformation of energy-saving and emission-reduction technologies in high-energy-consuming and high-pollution industries has the characteristics of limited collateral and large financing demand, and financial institutions should innovate green finance support methods, such as transforming and upgrading loan collateral and expanding environmental rights and interests pledge business.
Deepening of information sharing
The Notice mentions the establishment of a Beijing-Tianjin-Hebei green finance information sharing mechanism, the establishment of a green enterprise (project) database at the industry level in cooperation with government authorities, the inclusion of information on financial institutions, green enterprises and green projects in the three places, and the promotion of regional green finance resource flow and cooperation.
The reporter noted that this action is the deepening of financial information sharing between the three places in Beijing-Tianjin. On May 17, 2018, the Beijing Municipal Financial Work Bureau, the Tianjin Municipal Financial Work Bureau and the Hebei Provincial Financial Work Office jointly signed the "Beijing-Tianjin-Hebei Financial Bureau (Office) Cooperation Framework Agreement". According to the agreement, the Beijing-Tianjin-Hebei region will strengthen information sharing, accelerate the cooperation and joint construction of the regional social credit system, promote the disclosure, sharing and application of credit information between regions, promote the access of financing guarantee institutions and microfinance companies in the three regions to the credit investigation system of the People's Bank of China, and promote the headquarters of financial institutions to increase policy preferences for branches in the three places, and give greater support in terms of credit lines and approval.
At the same time, the Notice requires that regulatory linkage be strengthened, and regulatory coordination mechanisms in risk prevention and control and information sharing in Beijing-Tianjin-Hebei be promoted to help solve the problems of cross-regional risk supervision difficulties and information asymmetry between banks and enterprises. It is necessary to strengthen the coordinated supervision of green finance risks in the Beijing-Tianjin-Hebei region, supervise banking and insurance institutions to consolidate their main responsibilities, form a joint prevention and control mechanism for capital and project risks, and jointly formulate regulatory measures and working procedures to deal with various risks, so as to effectively prevent the occurrence of major ecological incidents and default risks.
A state-owned banker said that commercial banks should carry out integrated risk management from the perspective of industrial structure transfer and overall risk in the three regions, and the existing branches should not only carry out services according to local market conditions, but should conduct overall assessment and control of factors such as environmental risks of financial products and services in the three regions.
Specifically, on the one hand, promote the development of key regions and the optimization of industrial structure, guide Beijing-Tianjin-Hebei banking and insurance institutions to promote the construction of Xiong'an New Area, provide financial support for high-end modern service industries and green ecological agriculture and other green and low-carbon industries in Xiong'an New Area, and establish an organizational system and institutional system to support green and low-carbon development in Xiong'an New Area; Optimize project screening, strengthen investment and financing support for the development of green and low-carbon industries, continue to improve the quality and efficiency of financial services in key regions, and vigorously develop new green insurance to escort the green industry and green economy in Beijing-Tianjin-Hebei.
On the other hand, carbon reduction and efficiency improvement are required, customer environmental protection is listed as a key review item in the approval process, the review of customer "carbon performance" factors is strengthened, green energy substitution actions are promoted, financing support is provided for the transformation of energy-saving and carbon-reduction technologies in traditional industries that comply with the capacity replacement policy, and the investment and financing access of high-energy-consuming, high-emission and low-level projects is strictly controlled.
Optimize green credit guarantee methods
In terms of mechanism optimization, the Notice requires that the Beijing-Tianjin-Hebei banking and insurance institutions be promoted to implement the new development concept in a complete, accurate and comprehensive manner, improve the green finance system and mechanism, and consolidate the foundation for the development of green finance.
Specifically, institutions are required to incorporate green finance concepts into development plans and embed low-carbon requirements into relevant internal systems and processes; Improve the quality and efficiency of green financial services and risk management by establishing a priority approval mechanism for green projects, reducing financing costs for green projects, and improving the organizational system of green finance; Encourage Beijing-Tianjin-Hebei banking and insurance institutions to exchange experience and explore the development of green financial products and models suitable for their institutions; Optimize green credit guarantee methods, actively expand environmental rights and interests pledge credit business, increase the supply of green finance through syndicated loans, co-insurance, bancassurance cooperation, etc., and expand the coverage of green finance.
The reporter learned that environmental rights and interests pledge financing refers to the use of surplus emission rights indicators as collateral to apply for loans from banks on the premise of completing emission reduction tasks. At present, Beijing, Hunan, Shanghai and other places have effectively explored environmental rights financing.
The above-mentioned state-owned bankers said that from the perspective of financial institutions, the coordinated development of green finance in the Beijing-Tianjin-Hebei region contains development opportunities, such as the transformation of energy-saving and emission-reduction technologies in energy-intensive and high-pollution industries, which has the characteristics of limited collateral and large financing demand. Financial institutions should actively innovate green finance support methods, such as upgrading loan collateral, and provide funds for enterprises that meet the guidance of national industrial policies and technological transformation projects with the goal of energy conservation and emission reduction.
According to the reporter, the three places in Beijing-Tianjin-Hebei have jointly launched a number of innovative financial tools, such as the "Beijing Green Pass" special rediscount product, focusing on the coordinated development of green finance in Beijing-Tianjin-Hebei, targeted support for bills issued or received by green enterprises in the region, and reducing the actual financing costs of green enterprises by guiding financial institutions to increase financing support for green enterprise bills.
From the perspective of objectives, the Notice takes the blueprint of supporting the Beijing-Tianjin-Hebei region to achieve high-quality development and promoting the collaborative cooperation of green finance in the Beijing-Tianjin-Hebei region, and clarifies the working time nodes and expected goals. That is, by the end of the "14th Five-Year Plan", the Beijing-Tianjin-Hebei banking and insurance institutions have basically completed an institutional mechanism that matches the "dual carbon" goal. From now until 2030, we will strive to achieve an average annual growth rate of green credit in the Beijing-Tianjin-Hebei banking industry that is not lower than the average growth rate of various loans, and the scale of green insurance and green trust will grow steadily. The regulatory authorities of Beijing, Tianjin and Hebei have made leapfrog progress in promoting the development of green finance, strengthening joint risk prevention and control, and information sharing.
(Editor: Zhu Ziyun, Proofreader: Yan Jingning)