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

Most Popular

Singapore’s Carbon Credit Market Surging At 21% CAGR

Late last year, the Ministry of Sustainability, and the Environment (MSE) and the National Environment Agency (NEA) had rolled out the Eligibility Criteria under...

Toucan Launches World’s First Liquid Market for Biochar Carbon Credits

Digital platform Toucan.earth is set to launch the world's inaugural 'liquid' market for biochar credits, in response to escalating interest from carbon credit buyers...

Spectaire Holdings’s Innovative Tech Helps Truckers Generate Carbon Credits

Spectaire Holdings Inc., a global leader in air quality monitoring and emissions reduction technologies, has announced a significant development in response to the mounting...

Oxford Revises Principles for Net Zero Aligned Carbon Offsetting

A team of Oxford University researchers has released an updated version of the flagship guidance on credible and net zero-aligned carbon offsetting. First published...

What Is COP28? Key Issues to Watch Out at 2023 Climate Summit

After a record-breaking year of devastating effects of climate change, from record wildfires in Greece and Canada to floods in Libya, the United Nations...

Climate Disclosure: New Corporate Standards for a Net Zero World

As part of the world’s continued efforts to combat climate change and transition towards net zero, one important piece of the puzzle is new...

Carbon Pricing: Understanding The Economics and Trends of Fighting Climate Change

As global temperatures continue to rise, the urgency surrounding climate policies has intensified, thrusting carbon pricing into the limelight of climate discussions. The race to...

The EU Corporate Sustainability Reporting Directive (CSRD): Key Things to Know

Companies operating in the European Union will have to deal with new non-financial and sustainability reporting requirements starting January 2024 with the EU's Corporate...