PBoC launches carbon-reduction monetary policy facility
Facility will offer low-cost loans for private firms investing in green projects
The People’s Bank of China has launched a new lending facility dubbed the “carbon-reduction supporting tool”, with the aim of injecting hundreds of billions of yuan in low-cost funds for firms working on green causes.
The new monetary policy tool reinforces China’s climate change target, announced by Chinese president Xi Jinping last year: to hit peak carbon emissions by 2030 and reach carbon neutrality before 2060.
As banks grant loans related to carbon-reduction projects, the PBoC will lend
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