National Committee Member of the Chinese People's Political Consultative Conference, Zhang Kui: Empowering Green Development with Finance

2024-02-20

"I heard from the villagers of Lujia Village in Anji County that they can make money by planting or not selling bamboo there, with a maximum annual income increase of nearly 10000 yuan." Just after the Spring Festival, Zhang Kui, a member of the National Committee of the Chinese People's Political Consultative Conference, was excited by the news of the development of bamboo forest carbon sinks in Anji County, Zhejiang Province. "The local government supports the carbon sequestration and trading of bamboo forests with green finance. The previously abandoned bamboo forests have become 'cash cows', and the villagers have spontaneously loved bamboo forest protection. The bamboo forest covering thousands of acres has become even greener. I plan to go there to take a look and conduct research in preparation for this year's Two Sessions proposal," he said. Zhang Kui is the Secretary of the Party Committee and President of the Zhejiang Branch of the People's Bank of China. As a member of the 14th National Committee of the Chinese People's Political Consultative Conference, his proposal to promote the comprehensive, balanced, and high-quality development of green finance, which was put forward at the National People's Congress and Chinese People's Political Consultative Conference last year, has attracted widespread attention. In the past, he visited 11 prefecture level cities and conducted in-depth research in more than 20 districts and counties in Zhejiang, and was pleased to find that green finance has made new developments in Zhejiang. "The standard system continues to improve, information disclosure continues to open up, and policy support coverage effectively increases." There is a modern lake sheep breeding farm in Guanyintang Village, Shanlian Town, Nanxun District, Huzhou City, with a sheep shed equipped with a fully automatic feeding and sheep manure transmission and processing system at the lower level, The upper layer is a distributed photovoltaic power station with a total installed capacity of 4 megawatts, which is expected to generate 4.31 million kilowatt hours of electricity annually and reduce carbon dioxide emissions by about 4100 tons. The project received a green credit of 40 million yuan from the Huzhou Branch of the Agricultural Development Bank of China, enjoying a 20 basis point discount on the market quoted interest rate for loans with a term of more than 5 years. It also received support from the People's Bank of China's carbon reduction support tool. "This' Yangguang Complementary 'project has left a deep impression on me. It has not only strengthened the local Huyang industry, but also utilized rooftop photovoltaic panels to develop clean energy, achieving a green ecological cycle of' Yangyang integration and photovoltaic livestock complementarity '. Zhang Kui said that the project is expected to drive an annual income increase of about 500000 yuan in 15 administrative villages, and also provide farmers with share dividends, land transfer income, and employment opportunities.". He said, "To cultivate a green background for high-quality development, we need to leverage the guiding role of finance to mobilize greater social resource investment and assist in the integration of green, inclusive, and common prosperity development." In order to do a good job in green finance, Zhang Kui has been focusing on promoting the construction of green finance standard systems in various regions of Zhejiang since last year. Under his guidance, the Zhejiang Provincial Financial Society led the development of the "Guidelines for Carbon Account Services for Individual Banking Customers" and "ESG Evaluation Management for Banking and Financial Institutions". Last year, they were approved by the National Financial Standardization Technical Committee's financial industry standard project, upgrading from provincial group standards to national financial industry standards. At present, Zhejiang Province has issued nearly 30 local green finance regulations. "Whether enterprises are 'green' or not, and how much financial empowerment contributes to emission reduction, urgently needs to be clarified through a standard system." Zhang Kui introduced that Quzhou has established a "Bank Personal Carbon Account" system, which converts green travel, green consumption, and other behaviors into carbon reduction credits for financial scenarios such as credit. By the end of last year, more than 95% of the city's permanent population had been covered, and a total of 18 billion yuan of related loans had been issued, achieving a carbon dioxide reduction of 59200 tons, "Green financial services are standardized and easily accessible, which helps promote the formation of a green concept in the whole society." In the proposal for the National People's Congress and the Chinese People's Political Consultative Conference last year, Zhang Kui pointed out that "green gold"

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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