Going green: An employee works on a wind turbine part at a factory in Nantong. China is about to finish revising a catalogue of green bond-endorsed projects, and the new version will remove fossil fuel projects. — AFP
BEIJING: The People’s Bank of China (PBoC), the central bank, has decided to adjust its monetary policy framework by including climate change-related factors, an indication that policymakers are focusing more on sustainability and financial stability as the economy continues to recover from Covid-19 shocks, experts said.
Green finance could prove very useful in combating the ill-effects of climate change that may heighten credit, market and liquidity risks, and further undermine the stability of the entire financial system, they said after the PBoC governor announced more steps for achieving the target.
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