News > Technical support > For the global economy to achieve green development wisdom, China ushered in the golden period of Green Financial Development

For the global economy to achieve green development wisdom, China ushered in the golden period of Green Financial Development

2016-09-08 16:12:50

G20 and green finance

Under the initiative of China, the issue of green finance was listed on the agenda of G20 for the first time this year, and the green finance research group was set up, and the G20 green financial comprehensive report was launched. In this report, the definition, purpose, scope and challenges of green finance are clarified, and suggestions are made for developing green finance in various countries to support the sustainable development of the whole world.

From the green financial issues to Chinese debut G20, the people's Bank and other seven ministries jointly issued the "guidance" on the construction of green financial system, China has become the world's first to establish the green financial policy system economy.

The people's Bank of China emphasizes that the main purpose of building a green financial system is to mobilize and encourage more social capital to invest in the green industry, and at the same time to more effectively curb pollution investment. The construction of green financial system not only helps to speed up the transformation of China's economy into green, but also helps to promote technological progress in environmental protection, new energy, energy conservation and other fields, and accelerate the cultivation of new economic growth points.

From a global perspective, green finance, as a new financing way in recent years, is becoming an important driving force to promote global green growth and sustainable development. China's green financial system is becoming the leader of global green finance, whether it is from top level design or civil participation.

For example, the Internet financial giant ant gold service, recently for Alipay's 450 million users opened the account is a personal account of carbon carbon, by far the world's largest platform.

Recently, the people's Bank of China, Ministry of Finance and other seven ministries jointly issued "guidance on the construction of green financial system" (hereinafter referred to as the "opinions"), the full deployment of China green financial system, the green industry financing difficulties, financing expensive.

Chief economist and Research Bureau of the people's Bank of China China financial director of the Institute of green financial Specialized Committee Ma Jun believes that the "opinions" issued, marking China's strategy from the highest level to the relevant ministries level has formed a high degree of consensus.

"China is ushering in the golden age of green financial development. "Financial bank Chinese Academy of Social Sciences Research Director Ceng Gang said, in the construction of China and improve its green financial system at the same time, also make active participation in the global green financial rules, as the global economy contribution to green low-carbon development China wisdom".

Establishment of national green development fund

A strong commitment from the central government

Before the opening of the G20 summit, carbon emissions accounted for 38% of the world's top two economies - China and the United States, almost at the same time formally approved the accession to the Paris agreement on climate change (hereinafter referred to as the Paris agreement).

To achieve China's goal of environmental pollution control and international commitment to peak carbon emissions in 2030 or before, it is estimated that 3 trillion to 4 trillion yuan of green investment will be needed every year. However, the industry estimates that only 15% of the financial funds can be covered, so the vast majority of green investment needs to come from social capital. Ma Jun pointed out in an article that "opinion" will become an important and positive policy signal to guide the financial industry and enterprises to carry out green investment and financing.

"In the past, China's green finance was mainly confined to green credit. "Ma Jun said, but a lot of green projects, especially new projects, the first need is equity financing, because it needs capital to further debt financing. Therefore, some green equity funds should be established to promote the equity financing of green projects. Many green projects are relatively new, from the technical point of view, the people feel that the risk is relatively large, but also facing the uncertainty of policy. Because of these uncertainties, private funds are reluctant to invest in these projects. If the government funds are involved in these projects, it will greatly reduce the risk of private funds for such projects, and make them willing to follow.

Ma Jun believes that the "opinions" proposed for the first time will be the establishment of the national green development fund, investment in green industry, reflecting the country's green investment guidance and policy signal role". Internationally, China's establishment of green development fund at the national level is a rare commitment of the central government to green development.

A comparable case is Britain's green investment bank, which was founded in 2012. Although it was called the "bank", but it can not Xichu, can not issue bonds, so the green fund is a fact.

Largest labeling green bond issuing country

Grow from zero to hero in one year

Day ago by road green finance and Climate Initiative (Climate Bonds Initiative bond bond) and climate change jointly issued the "2016": the market status report, China is the largest issuer of climate related bonds. China is also playing a leading role in labeling green bond market. China is also the largest labeling green bond issuing country in early 2016.

According to statistics, up to now, China has issued nearly 120 billion yuan of green bonds, accounting for 45% of the global green bonds issued during the same period. Executives of European currency (Euromoney) commented that the momentum of China's green bond market was that China grew from zero to "grew zero to hero" within a year. From.

Li Yifeng, deputy general manager of Haitong Securities bond financing department, analyzes the driving force of the green bond market, which is the support of the competent authorities for green bonds and the degree of investor acceptance of green bonds. At present, the two aspects of the performance is very positive, the competent authorities of green bonds audit relatively fast, investors are also recognized, and its interest rate is generally lower than the bond market interest rate.

It is understood that China is the first