Central bank to double down on green finance

BEIJING: China’s central bank will take a slew of measures to improve its support for green finance, according to Yi Gang, governor of the People’s Bank of China (PBoC).

The PBoC plans to launch a support toolkit to provide low-cost funds for carbon emission reduction, and it will also support green finance through a host of measures ranging from commercial credit ratings, deposit insurance rates to collaterals for open market operations, the governor said.