Over the past 30 years, China has developed rapidly to become the world’s second largest economy, reaching the status of a middle-income country.
Realizing this success, however, has involved a development approach entailing massive and inefficient resource use, and extensive damage to the quality of air, water and soil. Transforming from a resource- and pollution-intensive economy to a green economy is now a strategic priority for China. Success depends on the development of green industries and the transformation and reduced importance of many traditional industries. Success will be built heavily on green finance, and this is where China is headed.
This book is the final output of an 18-month project, Greening China’s Financial System, carried out by the International Institute for Sustainable Development (IISD) and the Finance Research Institute (FRI), Development Research Center (DRC) of the State Council, in association with the United Nations Environment Programme (UNEP) Inquiry into the Design of a Sustainable Financial System, and with support from the Fridtjof Nansen Institute. The aim is to develop specific proposals for greening China’s financial system based on an analysis of current practice in China and an exchange of experience with international experts.
Download the full report here.