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Multilateral Cooperation

China CDM Fund Management Center (the ”Management Centre”) has established close cooperative relationships with the World Bank, International Finance Corporation (IFC), Asian Development Bank and other international financial organizations and relevant UN agencies.

1. Cooperation with the World Bank

During the preparation of CDM Fund, in November of 2005, the World Bank signed a MOU (MomorandumofUnderstanding) with Ministry of Finance to help CDM Fund with framework design, start of its operation and climate change cooperation. After CDM Fund was set up, China CDM Fund Management Centre and the World Bank identified three major areas for cooperation in climate change and low carbon development: policy research, project investment and financing and capacity building

2. Cooperation with International Finance Corporation (IFC)

The Management Centre works with IFC to address climate change by promoting the market mechanism and the participation of private capital.

(1) The Management Centre and IFC work together to promote the climate financing at the provincial level by drawing on the successful model of energy efficiency financing in the IFC China Utility-Based Energy Efficiency Finance Program (CHUEE). In 2012, CDM Fund, together with the former Department of International Affairs of MOF and Department of Finance of Jiangsu Province, launched the CHUEE Jiangsu project in cooperation with IFC, pledging to share the risk of loss in the energy saving and emission reduction loans provided by Bank of Jiangsu. Therefore, Bank of Jiangsu can increase the size of the energy saving and emission reduction loans supporting domestic private enterprises to carry out projects in efficiency improving, renewable energy and related equipment manufacturing in Jiangsu. In 2015, CDM Fund, jointly with Department of International Financial Cooperation of MOF, Department of Finance of Shandong Province, jointly started the CHUEE Shandong project with IFC, to support the energy efficiency loan services of Bank of Rizhao. At present, the Management Centre is also cooperating with Agricultural Bank of China to promote the CHUEE model through asset securitization of energy efficiency loans.

(2) The Management Centre and IFC jointly organized the “China Green Low Carbon Financing Forum” in Shanghai in May 2015. The Forum, with the theme of “Capital Market & Funding Mechanism for a Low Carbon Economy in China”, had topics for discussion that were closely related to the forefront of the green low carbon financing work in China, and contained several sessions covering various issues including climate policies and green financing development, domestic carbon market development, green bonds, supporting green low carbon infrastructure construction via PPP, financing for energy efficiency, green city development and so on, and it highlighted the guidance of government policies and the role of the market. The forum was organized under the support of Department of International Financial Cooperation and Department of Finance of Ministry of Finance, Department of Climate Change of NDRC, Policy Research Bureau of China Banking Regulatory Commission, Research Bureau of the People’s Bank of China, National Center for Climate Change Strategy and International Cooperation, the China Center for Urban Development, Shanghai Municipal Development and Reform Commission and Shanghai Finance Office. The financial departments or bureaus of 18 provinces, municipalities and autonomous regions sent representatives to attend the meeting. The forum was also actively participated by financial institutions and industrial organizations at home and abroad. The forum was also widely reported by the media.

3. Cooperation with Asian Development Bank (ADB)

With strong support from Ministry of Finance, China CDM Fund Management Centre keeps close cooperation with Asian Development Bank. During the preparation and at the inception of CDM Fund, ADB provided two TA (technical assistance) projects to CDM Fund for it to enhance business and capacity building. In 2012 and 2013, ADB provided another two TA projects to support CDM Fund’s exploration and preparation of marketization.

4. Cooperation with United Nations agencies

The Management Centre conducts cooperation and exchanges in various forms with United Nations agencies including United Nations Development Programme (UNDP), United Nations Environment Programme (UNEP), United Nations Industrial Development Organization (UNIDO), Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC), as well as the secretariats of the fund mechanisms under UNFCCC, such as Global Environmental Facility (GEF) and Green Climate Fund (GCF).

In September 2012, UNDP included CDM Fund in the Excellent National Climate Financing Practices.

In November, 2013, China CDM Fund was awarded Lighthouse Prize by UNCCC Secretariat and World Economic Forum for its contribution to the application of public-private-partnership model in promoting green low carbon development, which is replicable and can be promoted around the world. This represents the international society’s recognition of China CDM Fund and Chinese government’s actions to tackle climate change. It is also a good example of innovative use public funds to promote low carbon development.

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