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The business of climate change
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CNTV, December 7, 2011
At Durban, the business of saving energy and reducing emissions is in focus. As we find out in this next story, it's creating new opportunities for growth and financing in China.
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The United Nations Climate Change Conference, Durban 2011. |
The business of climate change is creating new investment products and services offered by banks. Some analysts say it could take hold in China, during the nation's economic restructuring goals. Sustainable financing is also gaining popularity.
Chen Huan, deputy director of China CDM Fund Management Center said: "When we grant loans for local enterprises, we would require the company to set up a carbon emission reduction target. Then we can calculate how much carbon-dioxide emissions can be prevented with each loan we give out.
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An environmental activist paints a banner during a demonstration outside the United Nations Framework Convention on Climate Change Conference of the Parties meeting (COP17) in Durban, Wednesday. |
Zheng Shujie with China Industrial Bank, Sustainable Financing, said: "China's investments in energy saving industries has grown rapidly. Accordingly, financial institutes investments in the sector have also gone up, and we have introduced many new relevant products. We've come to this conference to showcase to the world efforts made by Chinese commercial banks."
At the Durban Summit, participants are looking for global commitments to curb greenhouse gas emissions. On Monday, a China Corner event was held at the conference to mark China's increasing participation in energy saving and emission reduction efforts.
