The PBOC gradually rolled out specific policies on green bonds, green credit and environmental information disclosure. The PBOC is in the process of updating the Green Bonds Endorsed Project Catalogue. The new version is expected to remove projects related to fossil fuel production and consumption, while include more climate-friendly activities. It demonstrates our strong commitment to reducing emissions.
Moreover, the PBOC has strengthened policy incentives, including evaluating banks’ performance in supporting green finance. Second, we have been encouraging innovation in green finance products. Green finance products in China became available quite early, and have become increasingly diversified, such as green credit, green bonds, green agricultural insurance, clean energy insurance, and green trusts. Third, we have established pilot zones for green finance development.