BEIJING, June 6 (Xinhua) -- China will crank up financial support to encourage more participation in building the carbon footprint management system, reported Securities Daily on Thursday.
Chinese regulators jointly released a plan on Tuesday to establish the carbon footprint management system in China.
They came up in the plan with goals of basically founding a carbon footprint management system by 2027 and setting up a more optimized system with more diversified application scenarios by 2030.
Financing entities are encouraged to calculate in a highly efficient, precise and timely manner carbon footprints of their products and the carbon emissions of related projects to provide information necessary for green and transition finance services.
Financial institutions are urged to enrich carbon footprint-based financial products and services. Investment institutions and rating agencies are encouraged to put product footprints into surveys for due diligence concerning the environmental, social and governance (ESG) and sustainable development.
Apart from these, the plan also outlined tasks of other aspects such as promoting international cooperation and mutual trust in product carbon footprint rules, including bolstering mutual recognition with the Belt and Road partner countries in this regard.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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