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China

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Last Updated:
04/05/2024
Since
2012
National Regulatory and Financial Administration (NFRA)
Since
2012
Ministry of Ecology and Environment of People's Republic of China
Since
2014
China Banking Association (CBA)
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Timeline

  • 2024
    Framework Development

    • The People's Bank of China, the National Development and Reform Commission, the Ministry of Industr

    • MEE issues the Strategy and Action Plan for the Biodiversity Conservation

  • 2023
    Market Actions and Impacts

    • The National Financial Regulatory Administration (NFRA) is formed replacing CBIRC

  • 2022
    Framework Development

    • CBIRC issues the Green Finance Guideline

  • 2021
    Framework Development

    • China issues the Guidelines on Strengthening Biodiversity Conservation

    Research and Engagement

    • China-EU Common Ground Taxonomy is launched

    • China becomes Co-Chair of the G20 Sustainable Finance Working Group

    Market Actions and Impacts

    • Initiative launched to develop a national carbon market, starting with the power industry (to begin trading in 2022)

    • 70% of banking assets (valued at $32 billion) covered by ESG integration requirements and banks report their ESG activities and performance regularly to CBIRC and PBoC

  • 2020
    Framework Development

    • CBIRC issues Notice on Work Related to the Statistical System for Green Financing and publishes Corporate Governance Guidelines for Banking and Insurance Institutions (Draft for Comment)

    • PBoC publishes the updated Catalogue of Green BondSupported Projects and issues the Banking Sector Financial Institution Green Finance Assessment Plan

    • Multi-agency collaboration consisting of MEE, NDRC, PBoC, CBIRC, and CSRC publishes guidance on Promoting Investment and Financing to Address Climate Change

  • 2019
    Framework Development

    • PBoC releases Green Credit Performance Evaluation Plan for Deposit-Type Financial Institutions in the Banking Industry

  • 2018
    Framework Development

    • CBIRC issues Guiding Opinions of the China Banking and Insurance Regulatory Commission on Promoting the High-quality Development of the Banking and Insurance Industry

  • 2017
    Framework Development

    • CBA issues China Banking Industry Green Bank Evaluation Implementation Plan

    • CSRC publishes Guiding Opinions on Supporting the Development of Green Bonds

  • 2016
    Framework Development

    • Multi-agency collaboration (PBoC, CBIRC, MOF, NDRC, MEE, and CSRS) results in Guidelines for Establishing the Green Financial System (2016)

    • PBoC issues Notice on Green Bond for Inter-bank Market; and the Green Bond Endorsed Project Catalogue

    Research and Engagement

    • During China’s G20 Presidency in 2016, the G20 Green Finance Study Group was launched and co-chaired by China and UK

  • 2013
    Framework Development

    • CBIRC issues Green Credit Statistics Reporting Template; Guidance on Calculating Environmental Benefits, and Key Performance Indicators for the Implementation of Green Credit

  • 2012
    Framework Development

    • CBIRC issues Green Credit Guidelines

    Research and Engagement

    • CBIRC & MEP join SBFN as founding members