In the mid-2000s, private investments in energy efficiency in China only accounted for 4% of total investments in the energy sector, against 13% in 1982. In order to promote this type of investment and the development of renewable energy projects, it was necessary to encourage Chinese banks to finance this sector, not only by making targeted credit lines available to them, but especially by helping them assess projects.
Two forms of partnership have been established with three Chinese banks – Huaxia Bank, Shanghai Pudong Development Bank (SPDB) and China Merchants Bank (CMB):
- Two green credit lines to finance “green” projects, e. projects which allow renewable energy development or energy efficiency improvements by financing business investments;
- Specific technical assistance consisting of a team of Franco-Chinese experts specialized in green energies made available to banks.
At the end of 2012, these two credit lines had financed 55 energy and renewable energy projects in 20 Chinese provinces.
The project’s objectives are to:
- Promote the widespread dissemination of financing solutions for Chinese or French (eco-)companies which invest in clean energies or energy efficiency;
- Build capacities in the Chinese banking sector thanks to an awareness-raising program on climate-related issues;
- Provide tailored advice to companies to guide their technical choices, promoting French expertise and experience in this field. A total of 55 funded subprojects should avoid 9 million teq CO2 a year. On the basis of the average annual emissions of a French car of 2.67 tons of CO2 a year, the emissions avoided are equivalent to 3.37 million passenger cars.
on the same regionEnergySustainable CitiesClimateBiodiversityEnergySustainable Cities
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on the same financial tool