Analysis of China’s fund and management system
- 23 October 2012
BEIJING: At a media briefing on Monday September 22, The Climate Group presented its policy recommendations for China’s carbon market.
The recommendations The Climate Group presented are:
- China to set up a national climate change fund
- The Chinese Ministry of Finance to set up a ring-fenced budget for climate change projects
- Construction of an independent carbon trading committee to monitor climate fund statistics, performance and evaluation.
“The Chinese government should upgrade climate financing to the level of strategic and set up an applicable climate financing mechanism.” said Changhua Wu, Greater China Director of The Climate Group.
The research was conducted by The Climate Group as part of its "Shaping China's Climate Finance Policy" project, sponsored by the UK SPF Prosperity Fund.
The project explores key issues in financing the low-carbon sector including capital requirements, sourcing, fund management and attracting social capital, said Wu.
The Climate Group works with policymakers and business in China to map out the future direction for China and its economy. It also co-authors the official annual report to the Chinese People’s Congress which sets out sustainable development proposals.