China Eyes Transition and Nature Taxonomies

Dr Ma Jun said the PBOC is working on a transition taxonomy and looking to create a nature-based taxonomy.

The People’s Bank of China (PBOC) is working on a transition taxonomy and looking to create a nature-based taxonomy, according to Dr Ma Jun, Co-Chair of the UK-China Green Finance Centre.

Speaking yesterday at the Net Zero Delivery Summit in London, Jun said the PBOC was drafting a transition taxonomy, covering four sectors: coal fired power generation, steel, cement and agriculture.

At a local level in China, he said the municipality of Chongqing had just launched a transition taxonomy which had been so far used to finance 90 transition projects with subsidies.

Jun also said that the PBOC would be looking to produce a nature-based taxonomy.

In related news, Jun said a “common ground taxonomy” used by China and Europe could be expanded to Singapore, UK and maybe the ASEAN region.

Read more articles like this on Regulation Asia’s sister publication, ESG Investor.

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