On May 11, the official website of the People's Bank of China announced that on May 10, the People's Bank of China, the Ministry of Ecology and Environment, the State Administration of Financial Supervision and the China Securities Regulatory Commission jointly held a symposium on the construction of a beautiful China in green financial services. The meeting held that in recent years, the ecological environment department has actively carried out institutional and mechanism innovation in climate investment and financing, carbon market construction, and eco-environment-oriented development (EOD) model, which has created conditions for financial institutions to participate in climate change response and ecosystem protection and restoration. The financial sector has continuously explored and achieved positive results in the construction of green finance standard system, information disclosure, incentive and restraint mechanism, product and service innovation, and international cooperation, laying a good foundation for the construction of a beautiful China with green financial services. The meeting pointed out that giving full play to the role of green finance and helping to build a beautiful China is the common mission and responsibility of the financial system and the ecological environment system. Financial management departments, ecological and environmental departments, financial institutions and relevant enterprises should strengthen cross-departmental and cross-field coordination and cooperation, strengthen overall planning, and further strengthen top-level design. Promote the construction of the environmental factor market, gradually expand the industry coverage of the mainland carbon market in stages, and improve the national greenhouse gas voluntary emission reduction trading market。 Make good use of the professional advantages of relevant institutions and units of the ecological environment, and strengthen technical support in carbon accounting, third-party assessment and certification. We will give full play to the positive role of financial institutions and financial infrastructure to further contribute to the construction of the carbon market. Strengthen the tripartite financing docking between the government, banks and enterprises, and establish a joint promotion mechanism for key projects serving the construction of a beautiful China. The meeting emphasized that financial institutions should fully consider the adaptability to the green transformation of the economy and society in their overall strategies, integrate climate risks into the overall risk management system, and better adapt to and support the needs of economic and social transformation and development. Improve the organizational construction around green finance, strengthen assessment and incentives, and improve the professional level of financial services. Strengthen green financial products and services, broaden project repayment and guarantee methods, and explore innovative products such as environmental rights and interests mortgage loans, environmental benefit-linked loans, and green credit asset securitization. Effectively improve the accuracy of green finance investment, improve the level of information disclosure and carbon accounting, and prevent "greenwashing", "greenwashing" and "fake transformation". It is necessary to continue to increase financial support for energy conservation and carbon reduction, ecological and environmental protection, and ensure reasonable support for the low-carbon transformation of high-carbon industries such as coal power. The financial management department will work with the Ministry of Ecology and Environment to further optimize policy arrangements and establish a normalized project recommendation mechanism.
Article source: Reprinted by CCTV Finance
Editor: Wang Haoyi
Review: Hao Zili
Producer: Zhao Min, Zhong Xiao
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