The general office of Jiangsu provincial government forwarded the guiding opinions of Nanjing Branch of the people's Bank of China and other departments on vigorously developing green finance, and put forward ten measures to promote the development of green finance, focusing on promoting the green upgrading of industrial enterprises, accelerating the green development in agriculture, promoting the green transformation of energy system and promoting the progress of green low-carbon technology. The details are as follows:

 

People's governments of cities and counties (cities and districts), provincial commissions, offices, bureaus and units directly under the province:

 

Guidance on vigorously developing green finance issued by Nanjing Branch of the people's Bank of China, provincial local financial supervision bureau, Jiangsu Banking and Insurance Regulatory Bureau, Jiangsu securities regulatory bureau, provincial development and Reform Commission, Provincial Department of science and technology, Provincial Department of industry and information technology, Provincial Department of finance, Provincial Department of natural resources, Provincial Department of ecological environment, Provincial Department of housing and urban rural development, Provincial Department of water resources and Provincial Department of agriculture and rural areas It has been approved by the provincial people's government and is hereby forwarded to you. Please earnestly implement it.

 

Guidance on vigorously developing green finance

 

In order to earnestly implement the decision and deployment of the CPC Central Committee and the State Council on carbon peak and carbon neutralization, deeply implement the spirit of the guiding opinions of the State Council on accelerating the establishment and improvement of a green low-carbon circular development economic system (GF [2021] No. 4), and in accordance with the work requirements of the people's Bank of China and other relevant national ministries and commissions on the construction of a green financial system, To effectively and orderly promote the high-quality development of green finance in our province, the following guiding opinions are put forward.

 

1、 Grasp the overall requirements for the development of green finance

 

1. Development ideas. Guided by Xi Jinping's socialist ideology with China's characteristics in the new era, we should fully implement Xi Jinping's ecological civilization ideology, and carry out the new development concept in a comprehensive, accurate and comprehensive way, adhere to systematic thinking, highlight problems, actively innovate and strengthen risk prevention, and promote economic green, low carbon development and innovation transformation and upgrading. Build a green financial policy system, organization system, product system and risk control system with Jiangsu characteristics, guide and encourage more financial resources to support energy conservation, emission reduction and green development, accelerate the establishment of a green low-carbon circular development economic system, and ensure that the goal of carbon peak and carbon neutralization is achieved on schedule.

 

2. Main objectives. During the "14th five year plan" period, the scale of green financing in the province continued to grow, the balance and proportion of green credit ranked first in the country, the quality of green credit assets increased steadily, the scale of direct financing such as green bond and green equity financing expanded steadily, the green financial standard system accelerated to improve, the organizational system of financial institutions became richer, and the product and service system became more diversified, The science and technology support system has been significantly strengthened, the risk control system has been continuously improved, and a green financial ecology with smooth policy coordination, complete support system, perfect guarantee mechanism and prominent regional characteristics has been preliminarily constructed.

 

2、 Clarify the key support areas of green finance

 

3. Promote the green upgrading of industrial enterprises. Guide financial institutions to strengthen financial support for advanced manufacturing clusters and help build an efficient, clean, low-carbon and circular green manufacturing system. In combination with the actual industrial structure of the province, financial institutions are encouraged to provide financial support for energy conservation and emission reduction, carbon reduction transformation projects and water conservation and emission reduction projects of high water consuming enterprises in traditional high-carbon industrial enterprises such as electric power, iron and steel, petrochemical, chemical, textile, cement and papermaking. In accordance with the principle of "maintaining pressure and classified management", investment and financing activities in industries with high energy consumption and high pollution will be gradually restrained.

 

4. Accelerate green development in agriculture. Guide financial institutions to continue to increase their support for Rural Revitalization and the construction of beautiful and livable villages, focusing on supporting ecological planting, ecological aquaculture, healthy aquaculture, high-standard farmland construction, agricultural water saving, rural water system improvement, resource utilization of agricultural waste and other fields. Financial institutions are encouraged to support the development of ecological circular agriculture and forestry circular economy in combination with reality. Guide financial institutions to innovate service methods, promote the in-depth integration of agriculture and tourism, education, culture, health and other industries, and accelerate the integrated development of primary, secondary and tertiary industries.

 

5. Promote the green transformation of the energy system. Guide financial institutions to increase financial support for clean energy such as wind power, photovoltaic power generation, hydropower, geothermal energy, marine energy, hydrogen energy and biomass energy. Encourage financial institutions to innovate service methods and provide financial support for the R & D and promotion of high-capacity energy storage technology. Guide financial institutions to vigorously support the clean and efficient development, transformation and utilization of coal.

 

6. Promote the progress of green and low-carbon technologies. Guide financial institutions to actively support key scientific and technological projects and the transformation and application of scientific and technological achievements in the fields of energy conservation and environmental protection, cleaner production and clean energy. Encourage financial institutions to increase financial support for zero carbon and negative carbon technologies such as low-cost carbon dioxide capture, biotransformation and mineral storage. Guide financial institutions to provide financial support for technological progress in green building and green transportation.

 

3、 Build a basic institutional framework for Green Finance

 

7. Build local standards for green finance. Effectively connect with the national green finance standards, and study and formulate the implementation plan for the construction of green finance standards in Jiangsu Province in combination with the actual situation of Jiangsu Province. Establish and standardize standards in the fields of green financing enterprise evaluation, green financing project evaluation, green financial institution evaluation, construction of green financial characteristic institutions in banking industry, regional green financial development index, environmental information disclosure of financial institutions, strengthen the coordination and unity between standards, and strive to build a credible green financial standard system with Jiangsu characteristics. Strengthen the promotion and application of green financial standard system and give full play to the normative and guiding role of green financial standards.

 

8. Establish a green financing subject identification system. Based on the green industry guidance catalogue (2019 Edition) issued by seven ministries and commissions including the national development and Reform Commission, combined with the current situation of regional economy and industry, this paper studies and refines the rating and certification methods of green financing subjects in Jiangsu. Give full play to the role of third-party green rating and certification institutions to ensure the objectivity, impartiality and scientificity of green rating. Take the green rating and certification results as an important basis for determining the loan credit, credit discount and preferential policies of green financing subjects.

 

9. Build a comprehensive service platform for green finance. Build a green financial comprehensive service platform based on the provincial comprehensive financial service platform. Effectively integrate the information of development and reform, industry and informatization, ecological environment and other departments, nest the rating and certification methods of green financing subjects into the green finance comprehensive service platform, and regularly carry out dynamic green rating on financing subjects, so as to realize the automation and accuracy of green financing subject identification. Build a "four in one" green financial service mechanism, and rely on the green financial comprehensive service platform to realize the efficient integration of functions such as industry finance docking, policy publicity, information collection, tracking and supervision.

 

4、 Cultivate environmental equity trading market

 

10. Improve the carrier, rules and systems of environmental rights and interests trading platform. Improve the functions of the province's unified emission trading platform, explore and start the construction of trading platforms such as water rights and energy rights, and give full play to the resource allocation and guiding role of the environmental equity market. Establish and improve the systems of initial distribution, paid use, transfer mortgage and dispute resolution of environmental rights and interests, and optimize the management and services of environmental rights and interests transactions. We will strengthen accountability for breach of contract and breach of trust of environmental rights and interests, and promote the establishment and improvement of the value realization mechanism of environmental rights and interests. Promote qualified enterprises to participate in the national carbon emission trading market. Financial institutions are encouraged to provide financing and intellectual services for trading entities in the carbon emission right market in terms of Carbon Asset Management, capital clearing and business training.

 

11. Explore the basic work of carbon sequestration and certification of voluntary emission reduction projects. Study the value accounting mechanism of carbon sequestration and certified voluntary emission reduction projects in multiple fields such as renewable energy, forestry, ocean and wetland, explore the preparation of accounting guidelines for two types of projects, and scientifically promote the measurement and verification of certified voluntary emission reduction. Promote all localities to strengthen the investigation and Research on the resources of carbon sequestration and certified voluntary emission reduction projects, and do a good job in the arrangement and reserve of projects. Closely follow the progress and trend of the national certified voluntary emission reduction project trading market.

 

5、 Improve the system of green financial institutions

 

12. Develop characteristic institutions of green finance. We will actively support banking financial institutions to set up green financial institutions such as green financial business departments and green branches (branches). Large banks are encouraged to establish a professional green finance working mechanism in Jiangsu branches and major corporate banking institutions, and gradually form a "six special" operation mode of special scale, full-time team, exclusive products, professional processes, special risk control and exclusive assessment. Financial institutions are encouraged to improve the professional service capacity and risk prevention and control capacity of green finance by setting up green finance business departments (business centers) and green product innovation laboratories.

 

13. Encourage the establishment of green financial business centers, new business forms and service institutions. Guide national financial institutions to set up national and regional green financial business centers in Jiangsu. Support small loan companies, financing guarantee companies and financial leasing companies to improve the level of green financial services, actively participate in green financial business and provide financial services for green industries, enterprises and projects. Support professional institutions such as credit rating, third-party certification and environmental risk assessment to settle in Jiangsu and provide intermediary services for green finance.

 

14. Improve the internal management system. Guide banking financial institutions to formulate special green credit management measures, establish a green enterprise evaluation system, and implement differentiated management in terms of customer access and credit policies. We will promote banking financial institutions to improve the incentive and restraint mechanism for green finance business, strengthen internal assessment and guidance, and reward green finance by optimizing resource allocation, arranging special incentive expenses, performance assessment preference, internal transfer pricing preference, profit loss compensation, etc. Appropriately improve the tolerance of green credit non-performing rate within banking financial institutions. If the green credit non-performing rate of banking financial institutions is higher than the annual target of various loan non-performing rates of the bank, the provincial financial work deliberation and coordination mechanism shall issue relevant opinions according to its green financial performance for reference by its superior bank or competent department in assessment and evaluation.

 

6、 Innovative green financial products and services

 

15. Increase the supply of green credit products and services. Vigorously promote characteristic green credit products such as "environmental protection loan" and "water-saving loan", support financial institutions to innovate and promote mortgage and pledge loan products such as water right, energy use right, bamboo forest carbon sink and contract energy management income right. Encourage financial institutions to innovate financial products and services and provide medium and long-term financial support for scientific and technological green enterprises and quasi public welfare projects. We will increase the use of financial technology, make full use of scientific and technological means such as big data and cloud computing, simplify business processes, and innovate and promote green credit loan products. Support capital account foreign exchange business and cross-border RMB business related to green finance, simplify relevant business processing processes and provide more efficient and convenient services.

 

16. Broaden green direct financing channels. Guide financial institutions to do a good job in the demand mapping and project reserve of green bonds, and innovate and promote innovative financial products such as carbon neutral bonds, blue bonds and sustainable development linked bonds. Support financial institutions to issue green financial bonds, support qualified enterprises to issue green corporate bonds, corporate bonds, debt financing instruments and asset-backed securities, and explore the use of credit risk mitigation certificates and guarantee credit enhancement to reduce the issuance cost of green bonds. Support qualified green enterprises to be listed or listed on the main board, gem, science and innovation board, new third board and other multi-level capital markets. Support advantageous green leading enterprises to use capital market financing to carry out M & A.

 

17. Expand the pilot of green insurance innovation. Encourage legal person insurance institutions within their jurisdiction to establish a green investment system. Support insurance institutions to vigorously develop environmental pollution liability insurance, production safety liability insurance and other insurance products. Support insurance institutions to actively innovate eco-environmental liability insurance products and explore green enterprise loan guarantee insurance.

 

18. Improve the green financing guarantee system. Give full play to the financing guarantee role of policy financing guarantee institutions, highlight environmental and social benefits, and provide credit enhancement services for financial support for green small and micro enterprises and green agriculture. Support guarantee institutions to innovate guarantee mode, expand guarantee coverage, effectively enlarge credit multiple, flexibly adjust guarantee rate, and support investment and financing in green field. Encourage financial institutions, guarantee institutions and social capital to jointly contribute to the establishment of green industry guarantee fund to provide credit enhancement services for green enterprises (projects).

 

7、 We will promote the pilot reform and innovation of green finance

 

19. Support the application for national green finance innovation pilot. We will support regions with a good foundation for the development of green finance and strong willingness to implement it to actively apply for the establishment of a national green finance reform and innovation pilot zone. Encourage regions with excellent basic conditions, leading role and typicality to actively apply for Climate Investment and financing pilot projects focusing on investment policy guidance and strengthening financial support. Encourage all localities to explore high-quality green and low-carbon projects and actively apply for the National Climate Investment and financing project library. Relevant departments shall make work arrangements for the areas approved as national green financial innovation pilot, and provide policy support.

 

20. Carry out provincial green finance innovation pilot. Focusing on the economic structure and industrial characteristics of our province, study and formulate the scheme of provincial green financial innovation and reform pilot zone, and encourage qualified regions and institutions to actively apply for the pilot. All relevant departments shall provide policy support to the regions and institutions approved for the provincial green financial innovation pilot. Based on green finance and relevant economic indicators, explore the preparation of green finance development index to comprehensively and objectively evaluate the quality and level of regional green finance development.

 

21. Encourage all localities to adjust measures to local conditions for innovative development. Encourage all localities to actively carry out green financial innovation pilot projects such as "green + innovation" and "green + high-end manufacturing" in combination with reality and relying on platforms such as high-tech zones, industrial parks and entrepreneurship incubation centers, and explore new paths and models for green finance to boost financial supply side reform, green low-carbon development, industrial structure transformation and upgrading and carbon peak and carbon neutralization.

 

8、 Establish a green financial incentive and restraint mechanism

 

22. Strengthen monetary policy incentives. Actively connect with the carbon emission reduction support tools of the people's Bank of China, and support banking financial institutions to increase credit support for green and low-carbon development. Through structural monetary policy tools such as refinancing and rediscount, guide local legal person financial institutions to provide green credit, and improve the positive incentive and directional regulation function of monetary policy in supporting green and low-carbon development.

 

23. Give prominence to the guidance of fiscal policy. We will give full play to the important role of fiscal policy and guide the agglomeration of financial resources to green industries and green projects. Comprehensively use financial incentives, interest discounts, cost subsidies, risk compensation and other means to promote the rapid development of green financial system, products and services. We will give full play to the guiding role of government investment funds, encourage qualified construction projects in green fields to be included in the scope of special government bonds, and encourage qualified local governments and social capital to jointly establish green low-carbon funds according to the principle of marketization to invest in entities and projects in clean energy, green transportation, green buildings and other fields in a market-oriented manner.

 

24. Play the role of regulatory policy. Formulate detailed rules for the implementation of green finance evaluation scheme of banking financial institutions, evaluate the development of green finance of banking financial institutions in the whole province, and the evaluation results are linked to macro Prudential evaluation, approval of financial bond issuance, etc. Support banking financial institutions with good results in green financial business to replenish capital through multiple channels and alleviate the constraints on the supply of green credit. Moderately improve the tolerance for the non-performing rate of green credit of banking financial institutions, and implement the due diligence exemption requirements for green credit.

 

9、 Improve the risk prevention and control mechanism of green finance

 

25. Attach importance to environmental information disclosure of financial institutions. In accordance with the principles of authenticity, strictness, timeliness and comparability, accelerate the research and formulation of environmental information disclosure norms for financial institutions, and clarify the scope and carrier of environmental information disclosure. Guide financial institutions to steadily carry out environmental information disclosure in batches, layers and steps according to the requirements of regulatory authorities. Promote financial institutions to jointly build a training and exchange platform for environmental information disclosure of financial institutions, and improve the level of environmental information disclosure. Select some pilot areas to explore and promote carbon