PBOC Governor Calls for Further Development of Green Finance, Support for Low Carbon Development

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The head of the Chinese central bank has reiterated its commitment to the growth of green finance and low carbon development in China.

People’s Bank of China (PBOC) governor Yi Gang (易纲) said that in recent years it had established and improved a green finance policy system to drive the rapid development of the green finance market, and vigorously support the green, low-carbon transformation of the Chinese economy.

“Finance can play a positive role in supporting responses to climate change, in particular improvements to carbon pricing mechanisms, overall coordination of green categorisation standards, driving the strengthening of mandatory climate-related information disclosures, and mobilising market funds to support areas such as green transformation.”

Yi made the remarks during an online meeting held between senior members of PBOC and the European Commission on green and sustainable finance held on 7 October.

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