China and the European Union have announced plans to “combine policy and market best-practice” to arrive at a stronger framework for green investment, the European Investment Bank announced earlier this week.
“China and the European Union jointly recognize the importance of strengthening investment in green finance to support sustainable growth, better protect the environment, and tackle a changing climate,” said EIB Vice President Jonathan Taylor. “China’s ambitious policy initiatives to establish the Green Financial System, outlined by the People’s Bank of China and government bodies last August, demonstrate the same vision as the EIB’s commitment to mobilize new investment for green finance and contributing to development of best practice in climate finance.”
“As signatories of the Paris Agreement, the European Union and China are committed to strengthening the global response to the threat of climate change and enhanced transparency of green finance,” added the EU’s ambassador to China, said Hans-Dietmar Schweisgut. “This new cooperation between leading Chinese and European financial institutions demonstrates a clear commitment to enhance the role of capital markets to support green finance.”