Guiding Opinions on Promoting Investment and Financing to Address Climate Change

All provinces, autonomous regions and municipalities directly under the Central Government, the Department of Ecology and Environment (Bureau) and the Development and Reform Commission, the Bureau of Ecology and Environment and the Development and Reform Commission of the Xinjiang Production and Construction Corps; the People's Bank of China Shanghai Headquarters, all branches and business management departments, the central branch offices of provincial capitals (capital cities), the central branch offices of sub-provincial cities; the Banking and Insurance Regulatory Bureau; the Securities Regulatory Bureau; policy banks, large banks and joint-stock banks.

In order to fully implement a series of major decisions and deployments of the Party Central Committee and the State Council on actively addressing climate change, and to better play the role of investment and financing in supporting climate change, promoting the implementation of national autonomous contribution targets, and boosting green and low-carbon development, the following opinions are put forward.

I. General Requirements

(I) Guiding Ideology

Guided by Xi Jinping's thought of socialism with Chinese characteristics in the new era, comprehensively implement the spirit of the 19th CPC National Congress and the 2nd, 3rd and 4th Plenary Sessions of the 19th CPC Central Committee, thoroughly implement Xi Jinping's thought on ecological civilisation and the spirit of the National Conference on Ecological Protection, adhere to the new development concept, promote the overall layout of the "Five-in-One" and coordinate the It will adhere to the further development concept, promote the general layout of the "five-in-one" and coordinate the strategic layout of the "four comprehensives", and unswervingly implement the national strategy to actively address climate change. Guided by the goal of achieving autonomous national contribution and low-carbon development, supported by a policy and standard system, and with model innovation and local practice as the path, we will vigorously promote the development of climate change investment and financing (hereinafter referred to as climate investment and financing), guide and leverage more social capital to enter the field of climate change, further stimulate the potential and develop the market, and promote the formation of an energy structure, industrial structure, production method and lifestyle that mitigate and adapt to climate change. (2) Basic Principles

(2) Basic Principles

Adhere to the goal-led approach. Focusing on national targets for autonomous contribution and low-carbon development, we will promote investment and financing activities to better serve such targets, policies and actions as reducing the intensity of carbon emissions, reaching the peak of carbon emissions, increasing the proportion of non-fossil energy sources and growing forest accumulation.

Adhere to market orientation. Give full play to the decisive role of the market in climate investment and financing, give better play to the government's guiding role, and effectively play the role of financial institutions and enterprises as innovative agents in terms of models, mechanisms, and financial instruments.

Adhere to the policy of classification. Take full account of the actual local situation and implement differentiated pathways and models for climate investment and finance development. Actively create a policy environment conducive to climate investment and financing development and promote the formation of replicable and replicable advanced experiences and best practices in climate investment and financing.

Adhere to openness and cooperation. Promote development through openness and collaboration, promote the active integration of climate investment and financing into the "Belt and Road" construction, actively participate in the formulation and revision of international standards for climate investment and financing, and promote the application of Chinese standards in overseas investment and construction.

(III) Main objectives

By 2022, a policy environment conducive to the development of climate investment and financing will be created, the construction of standards related to climate investment and financing will be carried out in an orderly manner, local pilot projects on climate investment and financing will be launched and begin to bear fruit, professional research institutions on climate investment and financing will continue to grow, foreign cooperation will be practical and in-depth, and various factors and resources such as capital, talents and technology will initially gather in the field of climate investment and financing.

By 2025, policies to address climate change and policies in various fields such as investment, finance, industry, energy, and the environment will be promoted in a coordinated and efficient manner, the policy and standard system for climate investment and financing will be gradual

Ministry of Ecology and Environment

National Development and Reform Commission

People's Bank of China

China Banking and Insurance Regulatory Commission

China Securities Regulatory Commission

20 October 2020