China’s green financing policy tools to be enriched

Going green: A man wearing a mask walks past the People’s Bank of China in Beijing. The central bank is planning to include climate change risk management into its macro-prudential policy framework. — Reuters

ZHEJIANG: Chinese central bank officials aim to enrich policy tools labeled “green financing” to spur economic recovery and leverage more financial resources for achieving carbon emission reduction goals.

China will promote the development of carbon emission rights and carbon financial markets, and improve the efficiency of a price-setting mechanism in the carbon trading market, according to Liu Guiping, vice-governor of the People’s Bank of China (PBOC), the central bank.