Add Time:2023年11月01日
Green development is one of the five development concepts proposed at the Fifth Plenary Session of the 18th Central Committee of the Communist Party of China. The report of the 19th National Congress of the Communist Party of China pointed out the need to develop green finance and promote green development. So, what is green finance?
In 2016, the People's Bank of China, the Ministry of Finance, the Development and Reform Commission, the Ministry of Environmental Protection, and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Building a Green Financial System" (referred to as the "Opinions"). The Opinion provides the official definition of green finance for the first time, that is, green finance refers to economic activities that support environmental improvement, climate change response, and resource conservation and efficient utilization, namely financial services provided for project investment, financing, project operation, risk management, etc. in the fields of environmental protection, energy conservation, clean energy, green transportation, green buildings, etc.
The definition first clarifies that the purpose of green finance is to support projects with environmental benefits, which include supporting environmental improvement, addressing climate change, and efficient resource utilization; The second is to provide the main categories of green projects, which has important guiding significance for the definition and classification of various green financial products in the future, including green credit, green bonds, green stock indices, etc; The third is to clarify that green finance includes financial services that support green project investment and financing, project operation, and risk management, indicating that green finance not only includes financing activities such as loans and securities issuance, but also includes risk management activities such as green insurance and carbon finance businesses with multiple functions.
Green finance is an important market tool for turning green waters and mountains into gold and silver, and can play a greater role in adjusting China's industrial structure and leveraging economic growth. Green finance can not only promote environmental protection and governance, but more importantly, guide resources from high pollution and high energy consumption to industries with advanced concepts and technologies. Its essence is to enable currency to truly play a role in promoting economic growth and improving the ecological environment.
(Source: Pacific Securities)
In 2016, the People's Bank of China, the Ministry of Finance, the Development and Reform Commission, the Ministry of Environmental Protection, and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Building a Green Financial System" (referred to as the "Opinions"). The Opinion provides the official definition of green finance for the first time, that is, green finance refers to economic activities that support environmental improvement, climate change response, and resource conservation and efficient utilization, namely financial services provided for project investment, financing, project operation, risk management, etc. in the fields of environmental protection, energy conservation, clean energy, green transportation, green buildings, etc.
The definition first clarifies that the purpose of green finance is to support projects with environmental benefits, which include supporting environmental improvement, addressing climate change, and efficient resource utilization; The second is to provide the main categories of green projects, which has important guiding significance for the definition and classification of various green financial products in the future, including green credit, green bonds, green stock indices, etc; The third is to clarify that green finance includes financial services that support green project investment and financing, project operation, and risk management, indicating that green finance not only includes financing activities such as loans and securities issuance, but also includes risk management activities such as green insurance and carbon finance businesses with multiple functions.
Green finance is an important market tool for turning green waters and mountains into gold and silver, and can play a greater role in adjusting China's industrial structure and leveraging economic growth. Green finance can not only promote environmental protection and governance, but more importantly, guide resources from high pollution and high energy consumption to industries with advanced concepts and technologies. Its essence is to enable currency to truly play a role in promoting economic growth and improving the ecological environment.
(Source: Pacific Securities)