BEIJING, Sept. 8 (Xinhua) -- China will continue to carry forward international cooperation in the green finance sector and promote green investment under the Belt and Road (B&R) Initiative, said Yin Yong, deputy governor of the People’s Bank of China (PBOC).
Yin made the remarks on the International Green Finance Forum jointly organized by the Green Finance Committee of China Society for Finance and Banking, the United Nations Environment Programme and other three institutions in Beijing on September 5.
According to Yin, China is the first economy to put a relatively complete policy system of green finance in place. The G20 Green Finance Study Group, initiated by China, made a seven-point proposal in 2016 on promoting worldwide development of green finance, and the proposal was written into the G20 Leaders’ Communique of Hangzhou Summit.
The group called for greater efforts by financial institutions to conduct environmental risk analysis and make environmental data more publicly accessible in 2017, which was included into the G20 Hamburg Action Plan. All the achievements of the G20 have marched the world’s green finance development into a new chapter and played an important role in turning green finance into a mainstream.
In the future, China will continue to promote international cooperation on green finance and encourage green investment under the B&R, pointed Yin.
The Proposal on Managing Risks in the Environment of China’s Outbound Investment was released at the forum.
The Proposal encourages related companies to have a full understanding of, prevent and manage environmental and social risks in connection with outbound investment projects, strengthen environmental risk disclosure, actively use green financing tools and environmental liability insurance, and step up capacity building in environmental risk management. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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