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China Development Bank and the Climate Fund sign a memorandum of cooperation
Seetao 2021-10-19 11:13
  • China Development Bank and Green Climate Fund signed a memorandum of cooperation
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A few days ago, the China Development Bank and the Green Climate Fund (GCF) signed a new round of cooperation memorandums. On the basis of the good cooperation in the early stage, the two parties will further focus on achieving the "dual carbon" goal, improve the level of international multilateral cooperation, and give play to their respective advantages and experience in the field of green finance. Jointly carry out capacity building and knowledge exchange in areas such as climate investment standards and project impact assessment, and explore cooperation opportunities in the field of climate change mitigation and adaptation in developing countries.

China Development Bank is the first Chinese-funded financial institution to sign a cooperation agreement with the Green Climate Fund. Over the years, the Development Bank has been practicing the concept of green development, adhering to the principle of responsible financing, actively supporting the green transformation of China's economic and social development mode, and serving the co-construction of the green "Belt and Road". On the one hand, it vigorously promoted green credit business, explored and enriched green financial products, helped the development of green industries, and promoted a number of major ecological and environmental protection demonstration pilot projects. Up to now, the development bank has issued a total of 90 billion yuan of green financial bonds in RMB, with a green credit balance exceeding 2.3 trillion yuan (approximately 350 billion U.S. dollars), continuing to maintain its status as the main bank for green credit in China. On the other hand, referring to the relevant guidelines of the United Nations Global Compact, a complete set of environmental and social impact assessment systems have been established to actively support overseas clean energy and people’s livelihood projects; in accordance with international ecological and environmental protection concepts and relevant regulations, guide and restrict the development, construction, and construction of enterprises. Operate the project to promote the realization of the organic unity of economic, social and ecological benefits.

The Green Climate Fund is the operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change and the Paris Agreement. It is the world’s largest climate financing fund. It mainly supports developing countries in reducing carbon emissions, coping with the impact of climate change, improving climate resilience, and achieving sustainable development. Continuous development. Keywords: One Belt One Road, One Belt One Road News, One Belt One Road Project, Overseas Projects

China Development Bank will deeply implement the concept of green development, vigorously develop green finance, increase international cooperation and exchanges with multilateral institutions such as the Green Climate Fund in the fields of green, low-carbon, and climate change, learn from international experience, enhance mutual trust and consensus, and help achieve "Double carbon" goal.Editor/XuNing

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