Providing Targeted Financial Support
for Green and Low-Carbon Development
Recently, Air Quality Improvement in the Greater Beijing-Tianjin-Hebei Region—— I&G’s Green Financing Platform Project (GFP Project) aims to provide long-term financial support for rural residents in Hebei and Shandong Province to install roof-top solar PV power stations, leading to an annual emission reduction of CO2 by 18,864 tons. The project relies on Fintech including industrial internet platform, big data and artificial intelligence to achieve inclusive finance, promote clean energy, improve management efficiency, and reduce project risks.
With continued guidance and support from NDRC and MOF, the GFP Project has been progressing well since 2017. China National Investment & Guaranty Corporation (I&G), as the implementing agency, adopts the FIL modality to establish a sustainable green financing platform, where various financial instruments are being utilized to leverage financing in pollution-reduction projects, thereby contributing to regional air quality improvements. The total loan of the GFP Project is €458 million. So far, €313 million has been withdrawn to support the implementation of 38 subprojects, expecting to reduce yearly consumption of coal by 725,200 tons and gasoline by 314,169 tons. The GFP Project has won ADB’s Award of the 2018 Best Performing Project, and been selected as the Best NBS Practice in 2019 UN Climate Action Summit.
In the coming years, I&G will adhere to the national strategy of green development, giving full play to its business advantages to support, through the GFP Platform, green projects regarding energy storage, refrigeration efficiency improvement, etc., and joining hands in providing green energy to help improve air quality and cope with climate change.