In December 2022, at the invitation of the Ministry of Ecology and Environment, and under the guidance of the China Banking and Insurance Regulatory Commission (CBIRC), the China Banking Association (CBA) held a side event on Bank’s nature and climate initiatives during the second phase of the 2020 UN Biodiversity Conference (COP15).
As one of the important outcomes of COP15, the China Banking Association (CBA), together with 120 international and domestic financial institutions, launched the Common Action Plan for Banking Sector to Support Biodiversity Conservation, Research and Recommendations on the Role of China’s Banking Sector in Supporting Biodiversity and Research on Banking Institutions’ Innovation in Carbon Finance Products and Business.
The Common Action Plan was prepared under the guidance of the Policy Research Bureau of the China Banking and Insurance Regulatory Commission and with the support of 65 members of the China Banking Association and 120 international and domestic financial institutions. The Common Action Plan urged that banking sector should focus on building a shared future for all life on earth, advancing the global progress of green and low-carbon economy, and promoting global cooperation on biodiversity and climate.
Based on the practical experience of the participating banking institutions in carbon finance, the Research on Banking Institutions’ Innovation in Carbon Finance Products and Business systematically reviews the past and present of international and domestic carbon markets and introduces how different types of mainstream carbon finance products are created and applied in China. It summarizes the problems that emerged in the development of carbon markets, the creation of carbon finance products and the running of carbon finance business, before envisioning the future and offering policy advice.
On the foundation of combing through domestic and international research and practices, and focusing on investment and financing projects, the Research and Recommendations on the Role of China’s Banking Sector in Supporting Biodiversity analyzes the driving factors affecting biodiversity, identifies key industries, and develops tools for due diligence. Based on the reality of sustainable banking in China, this research summarizes and refines policy recommendations, and proposes key evaluation indicators for the implementation of biodiversity conservation by banks.
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