China ESG - Weekly news update: ​Shenzhen issued China's first green finance regulations

Shenzhen issued China's first green finance regulations

China's first law and regulation in the field of green finance, "Shenzhen Special Economic Zone Green Finance Regulations", was recently voted by the Shenzhen Municipal People's Congress Standing Committee meeting. The regulations will come into effect on March 1, 2021, and will require some financial institutions to make environmental information disclosure mandatory from January 1, 2022.

The Regulations provide a guarantee for Shenzhen to establish a financial ecological environment and a business environment under the rule of law more conducive to the development of emerging green industries and the greening of traditional industries, and also provide an early demonstration for the development of green finance under the rule of law nationwide.


IFC and the Hong Kong Monetary Authority announced new alliance to address climate change

With the goal to make Hong Kong a prominent green finance hub in mind, Hong Kong Monetary Authority (HKMA) joins forces with IFC on the Alliance for Green Commercial Banks, providing continuous research, support and guidance for banks for developing their own green finance roadmap in the coming 5 years.

According to IFC, emerging markets alone have the potential of attracting US$29 trillion in climate-related investments by 2030, rendering Asia-Pacific the region, ranked No.1 in the world for climate-smart investment potential. 

Source: The Financial

HKGFA Proposes Framework to Finance Net-zero Transition in High Carbon Sectors

The framework seeks to address financing constraints to decarbonisation in high-emitting sectors such as steel, cement and energy, which don't have access to green or climate finance.

Source: Regulation Asia

Industrial Bank Co., Ltd. issues first blue bond in China

On November 4, the first issue of green medium-term notes (blue bonds) of Qingdao Water Group for the year 2020 under the independent underwriting of Industrial Bank Co., Ltd. was successfully issued, with an issue scale of RMB 300 million and a term of three years, and the funds raised were used for the construction of desalination projects, becoming the first single blue bond in China and the first single blue bond issued by a global non-financial enterprise. Previously, on October 30, Industrial Bank Co., Ltd. had successfully issued the first single overseas blue bond of a Chinese equity bank in the international capital market.


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