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Full Text: Integrated Reform Plan For Promoting Ecological Progress (14)

Xinhua, September 21, 2015 Adjust font size:

45. Establishing a green finance system

Green credit will be promoted, with research being undertaken into adopting methods such as government interest subsidies to boost the level of support. All types of financial institutions are encouraged to step up grants of green loans. Requirements for the due diligence of borrowers as well as their legal responsibilities concerning environmental protection will be clarified. Efforts will be stepped up to further develop the systems related to capital markets. Research will be conducted to explore the establishment of a green stock index and the development of relevant investment products, and studies will be undertaken to explore the issuance of green bonds by banks and enterprises, encouraging the securitization of green credit assets. Support will be given for the launch of multiple types of green development funds, the operations of which will be market-based. A mechanism will be established for the mandatory release of environmental protection information by listed companies. Guaranty mechanisms for energy-efficient, low-carbon, and environmentally friendly projects will be improved, and the level of risk compensation increased. A compulsory liability insurance system for environmental pollution will be established in sectors involving high environmental risks. A green rating system as well as a non-profit system for calculating environmental costs and evaluating environmental impact will be established. Cooperation of all types with other countries will be promoted in green finance.

46. Establishing a unified system for green products

Products that are licensed as environmentally friendly, energy-efficient, water-saving, circular, low-carbon, recyclable, or organic will be uniformly classified as green products, and standardized green product standards, certifications, and logos will be established for them. Improvements will be made to policies on fiscal and tax support and government procurement for the research and development, production, transport, delivery, purchase, and use of green products.

IX. Improving Ecological Conservation Performance Evaluation and Accountability Systems

47. Establishing ecological conservation targets

Research will be conducted into developing practicable and visually representable indicators for assessing green development. Measures will be put in place to evaluate the attainment of ecological conservation targets, and indicators for resource consumption, environmental damage, and ecological benefit will be incorporated into a comprehensive evaluation system for economic and social development. Different performance evaluation criteria will be applied to different regions on the basis of their functional zoning.

48. Establishing monitoring and early-warning mechanisms for environmental and resource carrying capacity

Research will be undertaken into developing indicators and applying the right technology for monitoring and producing early warnings about resource and environmental carrying capacity. Monitoring and early-warning databases and IT platforms will be created for resources and the environment. Reports on monitoring and early-warning about resource and environmental carrying capacity will be prepared at regular intervals, and warnings will be issued and measures taken to place restrictions on regions which have exceeded or are approaching their carrying capacity in terms of resource consumption and environmental capacity.

49. Exploring the creation of balance sheets for natural resource assets

Guidelines will be formulated on preparing balance sheets for natural resource assets. Asset and liability accounting methods will be developed for use with water, land, forest, and other types of resources; accounts will be established for accounting natural resources in physical terms; classificatory criteria and statistical standards will be clearly laid out; and changes in natural resource assets will be regularly assessed. The preparation of balance sheets for natural resource assets will take place on a trial basis at the municipal (county) level, with physical accounts of major natural resource assets being assessed and results released. (more)