“Ethical Markets hails this new collaboration, which will optimize the huge potential for greening the Chinese Belt and Road initiative and creating long-term inclusive sustainability. ~ Hazel Henderson, Editor “
Climate Bonds and CECEP Hundred Sign MoU to Promote Belt and Road Green Finance
London/Beijing: 5 December 2017: 15:30 GMT: Climate Bonds Initiative and CECEP Hundred Technical Service (Beijing) Co. Ltd. have reached a consensus to join hands and promote green finance development in countries along the “Belt and Road”.
The Memorandum of Understanding (MoU) signed in Beijing yesterday is centered on the promotion of green finance in the Belt and Road countries. Both parties will contribute their expertise in the green industry and green finance to provide a full range of green advisory services to boost the greening process of the Belt and Road.
Cooperation between Climate Bonds Initiative and CECEP Hundred will revolve around the following: 1. Providing green policy and policy planning advisory service to developing countries along Belt and Road 2. Providing consultancy services to Chinese enterprises and institutions that invest in Belt and Road countries 3. Providing guidance on local green policies and help to identify green projects and provide policy recommendations on how to drive green development along the Belt and Road Sean Kidney, CEO of Climate Bonds Initiative: “China’s Belt & Road Initiative is providing huge investment opportunities for green infrastructure projects. President Xi has emphasised that the BRI needs to be 'green' and so green bonds are expected to become a feature of the financing packages for these projects." “We have recently seen major banks including China Development Bank, ICBC and Bank of China issuing green bonds to support green infrastructure in countries along the Belt and Road, and we hope to see more financial institutions and corporates to follow." “The corporation with CECEP enables us to provide holistic support from policy advice, standard setting, and consultancy services. We look forward to facilitating the greening of Belt and Road with scale and speed.”
CECEP Hundred Technical Service (Beijing) Co. Ltd. is a subsidiary of CECEP Consulting Co. Ltd. Climate Bonds Initiative and CECEP have already laid a firm foundation for cooperation. Both parties have actively exchanged and cooperated on the development of definitions and standards of green assets and projects.
CECEP has actively participated in a number of Climate Bonds industry based Technical Working Groups, developing the international Climate Bonds Standards criteria for hydropower, waste treatment, and biomass energy, sharing China’s practices and in the green industry. Both parties also jointly developed the ChinaBond China Climate-Aligned Bond Index with China Central Depository & Clearing Co. Ltd. (CCDC) in September 2016.