Vice Chairman of China Banking and Insurance Regulatory Commission: Financial institutions should avoid "talking about carbon discoloration"
China News Agency, Beijing, July 24th (Reporter Wang Enbo) Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, stated in Beijing on the 24th that financial institutions should avoid "talking about carbon discoloration" and should not simply step on the traditional high-carbon industries. The loan is cut off, and no renewal is due.
Against the background of proposing carbon peak and carbon neutral goals, China's green finance has developed rapidly, and the scale of green financing has continued to grow.
Liang Tao introduced at the 2021 Beijing Summit of the Global Wealth Management Forum held that day that as of the end of the first quarter of this year, the green credit balance of 21 major banks in China reached 12.52 trillion yuan, accounting for 9.3% of all types of loans.
Among them, green transportation, renewable energy, energy-saving and environmental protection industry loans accounted for more than 70%.
The overall quality of green credit assets is good, and the non-performing loan ratio has remained below 0.7% in the past five years, which is far lower than the overall non-performing level of various types of loans in the same period.
The environmental benefits of green credit are also gradually emerging. Green credit from 21 major banks can support the saving of more than 300 million tons of standard coal each year, and the reduction of carbon dioxide equivalent by more than 700 million tons.
However, Tao Liang also pointed out that the financial industry should not be able to make a lot of thunder and rain, nor ignore the reality of China’s economic and social development, to implement a “one size fits all” approach, and to deal with development and emission reduction, and overall harmony. Partial, short-term and medium-to-long-term relationships, respect the law, seek truth from facts, steadily advance, and earnestly fulfill the mission of promoting green and low-carbon development.
He said that financial institutions must accurately understand the policy connotations of national carbon emission reduction and economic green and low-carbon transition, grasp the rhythm and intensity of financial support for carbon peaking and carbon neutrality, and analyze the economic low-carbon transition and development from a macro perspective. Financial needs, reasonable calculation of risk exposure of high-carbon industry assets, and a steady and orderly adjustment of its own asset structure.
Liang Tao especially emphasized that financial institutions should fully consider factors such as the actual economic and social development of China, the stage of development of various industries and the difficulty of transition, and closely follow the carbon emission reduction policies formulated by relevant departments.
On the basis of ensuring the sustainability of its own business and actively supporting the green and low-carbon transformation of relevant enterprises, it is necessary to provide necessary financial support for traditional businesses to avoid "talking about carbon discoloration."
At the same time, it is necessary to strengthen coordination and cooperation with other industries to form a strong synergy that effectively supports the steady and healthy development of the real economy.
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