Caixin (February 15) reported that the People’s Bank of China (PBOC), is crafting a package of policies to support finance for green development as part of efforts to play a more active role in the nation’s fight against climate change. It quoted Wang Xin, Director of the PBoC’s Research Bureau, as outlining at a press briefing on February 9, the PBoC's proposed programme of action to fulfil "General Secretary Xi Jinping announcement in September 2020".  The PBoC proposes that "China's carbon dioxide emissions will strive to reach the peak by 2030 and strive to achieve carbon neutrality by 2060". To this end the People's Bank of China will focus on major strategic deployments such as carbon peaking and carbon neutrality goals, give full play to the three functions of resource allocation, risk management and market pricing in financial support for green development, and focus on promoting the following tasks. He said the PBOC is also revising a plan for evaluating how deposit-taking banks conduct their green finance business, including how they make green loans and issue green bonds. The central bank can then set up future monetary policy tools based on the results, Wang Xin said, adding that the plan is expected to be issued in 2021 after seeking public comments.

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