China central bank first to finance emissions reductions gave the loan.

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.

First Loan For Emission Reduction Financing From ‘The Central Bank of China! | Devamı>>>

President Joe Biden campaigned on a promise to restore U.S. leadership in the global fight against climate change and followed up with a dizzying number of executive orders and lofty targets to slash emissions.

But nine months into his presidency, political, legal, and economic obstacles have forced his administration to make several moves in support of fossil fuels development at home and abroad, and raised questions about whether the Democrat will be able to meet his commitments to clean energy.

Analysis: Biden’s Lofty Climate Goals Collide With Political, Economic Reality | Devamı>>>