China Central Bank Official Calls for Orderly Carbon Reduction

China should pursue any transition to green economic activity in an orderly manner and avoid any “campaign-style” carbon reductions at its financial institutions, a deputy central bank governor said.

Financial institutions must resist exit from high-carbon assets by enhancing their ability to identify green and low-carbon economic activities and coping with financial risks linked to climate change, the People’s Bank of China’s Xuan Changneng, said Saturday at the Bund Summit in Shanghai.