It takes the lead in green and low-carbon development transition, i.e., it set up the carbon emissions trading market in 2013 and plans to reach carbon emissions peak before 2025, five years ahead of the country’s schedule.
In the meantime, Shanghai provides sound foundation for the innovative development of green finance because of its wide coverage of financial factor markets, the aggregation of financial institutions and its developed financial infrastructure. Currently, over 90 percent of green bonds are issued in Shanghai, and over 60 percent of green enterprises’ IPOs take place in Shanghai.