Ordos included on green finance pilot regional list

The city of Ordos in North China’s Inner Mongolia autonomous region recently got the green light from the People’s Government of Inner Mongolia Autonomous Region to become a green finance pilot region, according to local officials.

The main concept behind developing green finance is to reconcile environmental protection with economic benefits, so that environmentally friendly industries can receive effective financial support and achieve sustainable and healthy development.

Officials said that the development of green finance is of great significance to China’s economic restructuring, transformation and advancement of the country’s environmental protection.

They said it also represents the implementation of the Chinese government's commitment to the Paris Agreement – the international accord signed in 2016 within the UN Framework Convention on Climate Change, dealing with greenhouse-gas emissions, adaptation and finance.

Moving forwards, officials said Ordos will study and formulate a green finance development pilot program as soon as possible, improve an evaluation index system covering green finance and boost innovation in green finance practices.

The city will aim to explore a new path for financial support for environmentally friendly economic transformation and ecological environmental protection.

Officials said it will also play a leading role in demonstrating how to create a green financial services system.