Finance
China Urges ‘Market Forces’ to Fill Gap in Green Bond Program
- PBOC working with Europe on common green taxonomy this year
- Financial institutions also have role to play, Yi says
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Public finances will only cover a “fraction” of the green financing investment needed for China to achieve its climate-change goals so the market will be encouraged to make up the difference, according to People’s Bank of China Governor Yi Gang.
“It is therefore imperative to put in place sound public policy incentives to encourage market forces to fill in the gap,” Yi said in a speech in Beijing Sunday.