Bank of China Enters Cooperative Agreement with China Huadian Corporation to Drive Carbon Targets

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One of China’s big state-owned banks has just entered a partnership with one of the country’s leading power concerns to help drive reductions in greenhouse gas emissions.

Bank of China (BOC) and China Huadian Corporation executed a strategic cooperative agreement on 1 February that “focuses on green, clean, secure and innovative development concepts,” and has the goal of “establishing a comprehensive cooperative system covering domestic and overseas commercial banks and investment banks.”

BOC said that the strategic partnership is a key part of efforts by both parties to achieve peak carbon by 2030, and carbon neutrality by 2060.

China Huadian is one of the country’s five biggest state-owned power generating concerns, and is under the management of the State-owned Assets Supervision and Administration Commission (SASAC) of China’s State Council.

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