Overview
Today China’s “challenge” is resulting in huge scale of green investment and financing, and related international actions are already observable. one after another. The Europe Union internally agreed that it will built the first ‘carbon neutral’ continent by 2050 and the European Investment Bank, the world’s largest green bonds issuer, has proposed to construct the first global climate bank. Such action will add 1 trillion euros to green investment within 10 years (2020) to 2030.
The European Central Bank (ECB) will also adjust its asset structure, of total assets up to 2.6 trillion euros : by increasing its holding of green financial products as it decreases the holding of assets that cause atmosphere warming. Many international financial institutions (IMF, World Bank and Regional Banks) have already pledged to curtail new loan applications under review or submitted for coal power projects.
China attaches great importance to addressing climate change issues and takes low-carbon sustainable development as a concrete action to implement ‘the new development concept to lead to high-quality sustainable economic development of its “new energy economy.”
In order to help accelerate the pace of low-carbon development and intensify action against climate change, the Investment Association of China (IAC) has taken the lead in launching the “Zero Carbon China” initiative, which aims to implement a national strategy to actively respond to climate change through the practical means available and necessary to meet the carbon emissions standards of 30/60.
