China central bank first to finance emissions reductions
China’s central bank announced on Thursday, December 30, 2021 that it has made an initial 85.5 billion yuan (US$18.2 billion) low-cost loan to financial institutions to promote green projects and corporate efforts to reduce carbon emissions.
Under the carbon emission reduction facility (CERF), the first of its kind to be implemented by China’s central bank, financial institutions will be able to apply for low-cost financing after they issue loans to finance firms’ efforts to reduce emissions.