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2020-01-14
Recently, China CDM Fund Management Center (hereinafter referred to as “the CDM Fund”) signed Green Innovation Investment Cooperation Agreement with Heilongjiang Department of Finance and Industrial Bank Ha’erbin Sub-Branch.
The CDM Fund is a policy-oriented fund established upon national approval and operated in market fund approach, with principles of supporting national efforts in combating climate change and promoting the sustainable development of the economy and society. As a supplementary funding mechanism for national financial support to respond to climate change, energy conservation and emission reduction efforts, the CDM Fund gives full play to the role of being the bridge between the government and the market, fiscal and financial, international and domestic affairs, and through clean development concessional loans (hereinafter referred to as the "clean concessional loan") and other paid-use ways to lead and leverage market funds to support green and cyclic low-carbon development. By the end of December, 2019, the CDM Fund has implemented 305 clean concessional loan projects in 27 provinces of China, with a total loan of RMB 18.655 billion, and leveraged social capital of nearly RMB a hundred billion.
The “Green Innovation Investment” is an innovation made by the CDM Fund to practice national green development strategies based on years of experience under the traditional clean development concessional loan model of the CDM Fund with provincial financial departments. It introduces financial institutions to share risks and is jointly initiated by the three parties to support local green low-carbon development, energy conservation and emission reduction, and other project-based debt investment businesses that are conducive to combating climate change.
Heilongjiang Province is one of the earliest provinces to cooperate with the CDM Fund and introduce clean development concessional loans for enterprises. There are already 12 projects gained concession loans of RMB 852 million in Heilongjiang Province. When the projects are put into production, it’s estimated that as many as 411,200 tCO2e can be reduced annually. By signing the Cooperation Agreement, Heilongjiang Department of Finance will be responsible for organizing project application in Heilongjiang Province, carrying out carbon emission reduction budgets and other work; the CDM Fund will provide policy concessional funds; and Industrial Bank Ha’erbin Sub-Branch will issue demand guarantee for the projects. Under the cooperation model, project enterprises in Heilongjiang Province can gain concessional loans.
The implementation of the Heilongjiang cooperation on green innovation investment signifies that the CDM Fund, Heilongjiang Department of Finance and Industrial Bank Ha’erbin Sub-Branch will continue to strengthen cooperation in the new situation to build up systems and mechanisms of energy conservation and emission reduction, green and low-carbon industry that are conducive to regional development. The relevant parties will take this as a starting point to actively respond to the call of the Party Central Committee on pollution prevention, ecological civilization construction and green development acceleration, further develop respective advantages and professional capabilities, facilitate industrial transformation and low-carbon development of Heilongjiang Province.
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