PBOC Takes The Lead In Drafting Financial Standards For The Transformation Of Four High-Carbon Industries

The 2nd Sustainable Investment and Financing (ESG) and the Construction of Free Trade Port Forum were held in Sanya, Hainan from September 7 to 9. Zhang Bei, deputy director of the Research Bureau of the People’s Bank of China (PBOC), attended the forum and delivered a keynote speech, pointing out that in recent years, China has taken green elements in key industries as a practical point and has taken active measures to integrate just transformation into policy formulation, financial guidance, and social support. There is a lot of room for development in financial assistance to just transformation. PBOC has taken the lead in drafting financial standards for the transformation of four industries, namely, coal, electricity, steel, building materials, and agriculture. It provides a basis for the reasonable financing needs of low-carbon transformation.