CBIRC Holds Conference on Development of Sustainable Finance
CBIRC held a conference that focused on achieving carbon-neutrality targets and accelerating the development of green finance. It was pointed out at the conference that achieving carbon-neutrality is a major strategic decision related to the sustainable development of China. At the conference, participants discussed the possible measures to accelerate development of green finance, with focus on improving the legislative and institutional frameworks for green finance.
At the conference, the participants discussed the following key measures to accelerate the development of green finance:
- Innovate products and services, increase financial support for key areas such as renewable energy and green manufacturing, and promote the development and application of green and low-carbon technologies
- Strengthen risk management and gradually incorporate carbon performance and carbon pricing into the credit management process
- Use financial technology to improve climate and environmental risk management capabilities
- Improve regulatory policies, explore risk measurement methods suitable for green financial products, and grasp the relationship between pollution reduction, carbon reduction, and prevention of financial risks
- Strengthen international exchanges and cooperation in green finance and play an active role in the formulation of international rules
Related Link (in Chinese): Press Release
Keywords: Asia Pacific, China, Banking, Insurance, Climate Change Risk, ESG, Carbon Pricing, Sustainable Finance, Low-Carbon Economy, CBIRC
Featured Experts

Michael Denton, PhD, PE
Dr. Denton provides industry leadership in the quantification of sustainability issues, climate risk, trade credit and emerging lending risks. His deep foundations in market and credit risk provide critical perspectives on how climate/sustainability risks can be measured, communicated and used to drive commercial opportunities, policy, strategy, and compliance. He supports corporate clients and financial institutions in leveraging Moody’s tools and capabilities to improve decision-making and compliance capabilities, with particular focus on the energy, agriculture and physical commodities industries.
Previous Article
ECB Updates SHS Reporting Documentation for BanksRelated Articles
EBA Proposes Standards for IRRBB Reporting Under Basel Framework
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
FED Issues Further Details on Pilot Climate Scenario Analysis Exercise
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.