Central Bank Launched Carbon Emission Reduction Support Tools
The People's Bank of China announced on the 8th that it would launch a carbon emission reduction support tool. The People's Bank of China will provide low-cost funds to financial institutions through carbon emission reduction support tools, and guide financial institutions to provide carbon emission reduction loans to all kinds of enterprises in key areas of carbon emission reduction on the premise of independent decision-making and taking their own risks. The loan interest rate shall be roughly the same as the market quotation interest rate (LPR) of loans of the same period and grade.
According to the relevant person in charge of the People's Bank of China, we created and launched the structural monetary policy tool of carbon emission reduction support tool to support the development of key areas such as clean energy, energy conservation and environmental protection and carbon emission reduction technology in a steady, orderly, accurate and direct way, and leverage more social funds to promote carbon emission reduction.
It is reported that the issuing object of carbon emission reduction support tools is tentatively determined to be national financial institutions. Through the direct mechanism of "loan before loan", the People's Bank of China provides financial support for qualified carbon emission reduction loans issued by financial institutions to relevant enterprises in key areas of carbon emission reduction at 60% of the loan principal and the interest rate is 1.75%.
The relevant person in charge of the People's Bank of China said that in order to ensure the accuracy and directness of carbon emission reduction support tools, the People's Bank of China requires financial institutions to publicly disclose information such as the issuance of carbon emission reduction loans and the amount of carbon emission reduction driven by loans, and third-party professional institutions to verify these information and accept the supervision of the public.
The People's Bank of China said that the launch of carbon emission reduction support tools will give play to the policy demonstration effect, guide financial institutions and enterprises to more fully understand the significance of green transformation, encourage social funds to invest more in green and low-carbon fields, advocate green production and lifestyle, circular economy and other concepts to enterprises and the public, and help achieve the goals of carbon peak and carbon neutralization.
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