News Snapshot:
China’s central bank is now spearheading the country’s carbon-neutrality initiative, with plans to provide low-cost capital, boost green financing and invigorate the carbon-trading market to fund the ambitious undertaking. Its involvement comes after President Xi Jinping vowed in September to make China carbon neutral by 2060 . The People’s Bank of China (PBOC) will create carbon-reduction-facilitation tools to provide funding support, and it will boost green financing channels, PBOC governor Yi Gang said at a joint seminar with the International Monetary Fund (IMF) on Thursday. It did not reveal the amount of funding , however. Yi estimated that the neutrality...
