HomeCarbon CreditsChina to Make Disclosure of Carbon Emissions

China to Make Disclosure of Carbon Emissions

China intends to make climate and carbon emission information disclosure mandatory in the future. According to central bank Governor, Yi Gang, they have completed some trials with select commercial banks and publicly traded enterprises,

“Our goal is to make a uniformed disclosure standard, and in the future, we will go in the direction of mandatory disclosure of climate-related information,” Yi said during a panel discussion at the Bank for International Settlements’ Green Swan conference.

President Xi Jinping’s vow to make China carbon neutral by 2060 implies that the world’s most polluting country will need to undertake a dramatic transition away from fossil fuels and toward sustainable energy.

The People’s Bank of China (PBOC) is attempting to contribute to this transformation by creating green financing and tackling related financial concerns. According to Yi, the PBOC has undertaken stress tests to analyze climate risks and has offered policy incentives for banks to issue loans for green projects

It is also examining the impact of the economy’s shift to renewable energy on inflation projections, he added.

To reduce emissions, the government is going to require an estimated $343 Billion in annual investment by 2030, rising to over $600 Billion trillion yuan for the three decades running up to 2060.

Adapted from: https://www.bnnbloomberg.ca/china-to-make-climate-information-disclosure-mandatory-yi-says-1.1612748

SourceBloomberg
Most Popular
LATEST CARBON NEWS

From Wild Seaweed to High-Value Products and Carbon Credits

A wave of seaweed is covering the Caribbean coasts, killing wildlife while harming humans and tourism, but an innovative company is turning it into...

Ammonia: Carbon-Free Fuel for the Shipping Industry

Converting ammonia into hydrogen is an emission-free fuel to help decarbonize the heavy-duty and shipping transportation industry. The transportation industry is the biggest polluter in...

How The First Carbon Negative Nation of Bhutan Did It

As the world’s richest and largest emitting countries are struggling to reduce emissions, Bhutan became the first carbon negative nation. Fog-enshrouded temples nestled in mountainous...

Google’s Eco-Friendly Routing Comes to Europe

Google expanded its eco-friendly routing on its Google Maps to 40 countries across Europe. With Google Map’s eco-friendly routing, drivers can choose a route that’s...
CARBON INVESTOR EDUCATION

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...

Tonne Year Accounting for Temporary Carbon Storage

You most likely know the climate benefits of storing carbon and removing gigatons of it from the atmosphere to limit climate change. But we also...