The reporter learned that Hangzhou Central Branch, the People’s Bank of China, recently jointly issued the Guiding Opinions on Financial Support for Carbon Peak and Carbon Neutralization (hereinafter referred to as Guiding Opinions) in conjunction with Zhejiang Banking and Insurance Regulatory Bureau, the Development and Reform Commission of Zhejiang Province, the Department of Ecology and Environment of Zhejiang Province, and the Department of Finance of Zhejiang Province. Zhejiang takes the lead in the country to introduce 25 measures in ten aspects to financially support Carbon Peak and Carbon Neutralization .
The Guiding Opinions proposes to strive to increase the green loans by more than 400 billion yuan in this province in 2021, and the issuance of green debt financing instruments and green financial bonds will increase by more than 50% year-on-year; from 2021 to 2025, the proportion of the green loans in the total loan balance in the whole province will increase by one percent every year, and the issuance of green debt financing instruments and green financial bonds will quadruple in 2025.
At the same time, the Guiding Opinions also clarifies that a positive list of credit support for green and low-carbon development, to support provincial-level “zero-carbon” pilot units and low-carbon projects in low-carbon industrial parks, and to support the low-carbon transformation of high-carbon companies.
The Guiding Opinions also makes it clear to broaden direct financing channels for green and low-carbon companies, to support eligible companies to issue green debt financing tools such as carbon neutralization bonds, to establish a provincial-level green and low-carbon project library, to cultivate regional environmental rights trading markets, to promote the construction of carbon markets, and to improve pollutant discharge rights, energy use rights, water use rights and other environmental rights trading mechanisms.
In terms of promoting the construction of the carbon account system in the whole province, the Guiding Opinions emphasizes that we will strive to establish carbon accounts for key carbon emission enterprises and institutions by the end of 2021, and achieve the objective of issuing pollutant discharge permits to enterprises under key management by the end of 2025
In addition, digital information sharing mechanisms will be established to promote the sharing of green and low-carbon information, and to regularly collect and update corporate carbon accounts, green and low-carbon project libraries, environmental credit information and other green information, so as to establish information release mechanisms for financial institutions at provincial, city, and county levels.
The person in charge of this business from Hangzhou Central Branch, the People’s Bank of China, said that this branch will work with relevant departments to supervise and guide the province’s financial system to earnestly implement the 25 work measures proposed in the Guiding Opinions. Meanwhile, revolving around the objective of carbon peak and carbon neutralization, this branch will speed up the construction and perfection of green and low-carbon financial systems in the whole province, to guide financial resources to rapidly accumulate in green and low-carbon fields, and thus to promote the green and high-quality development of the economy and society of the whole province.