China Net Finance, March 7 (Reporter Cao Zhongyuan) In recent years, the Henan Supervision Bureau of the State Administration of Financial Supervision and Administration has deeply practiced the concept of "lucid waters and lush mountains are invaluable assets", planning ahead, promoting from a high position, taking the initiative, and making efforts with both green credit and green insurance, and making every effort to write a good article on green finance. As of the end of 2023, the province's green credit balance was 860 billion yuan, a year-on-year increase of 26%; Various types of green insurance provide a total of 1506 trillion yuan, compensation expenditure of 57800 million yuan, providing strong financial support for the development of green economy.
The pen starts with "policy support" to provide institutional guarantee for green development.
Starting from the financial regulatory function, in-depth research on the development of green finance in the province, scientific planning, multiple measures at the same time, continue to improve the green finance work system and institutional system, and "pave the way" for the development of green economy. The Provincial Development and Reform Commission and other departments jointly issued the "Guiding Opinions on Promoting the Development of Green Finance in the Banking and Insurance Industry in Henan Province" to clarify the goals, paths and measures for the development of green finance. China has issued the Notice on Financial Support for the Ecological Protection and High-quality Development of the Yellow River Basin and other documents to guide banking and insurance institutions to focus on Henan's strategic emerging industries, low-carbon and energy-saving industries and clean energy industries, actively provide credit support and risk protection, and realize the combination of green finance and industrial development.
The line is written in the "service entity" to provide financial support for the green economy.
Adhere to the work idea of "standardizing and leading, encouraging exploration, and promoting development", guide banking institutions to optimize green credit products and services, expand the scale of green credit, and promote the gathering of capital elements in low-carbon, environmental protection, energy conservation, consumption reduction and other fields based on economic and social green development and transformation planning. By the end of 2023, the province's green credit-supported projects have saved more than 36 million tons of standard coal and reduced carbon dioxide emissions by 300 million tons. Encourage insurance institutions to focus on key areas and industries for the construction of ecological civilization, strengthen the innovative development and replication and promotion of exclusive green insurance products, accelerate the development of environmental pollution liability insurance, improve the linkage mechanism between agricultural insurance claims and harmless treatment of sick and dead livestock, and promote insurance funds to support the development of green industries in the form of equity, creditor's rights, and green and low-carbon development, so as to escort the high-quality development of ecological priority and green and low-carbon. In 2023, environmental pollution liability insurance will provide risk protection for 288 secondary enterprises27.5 billion yuan.
The pen is closed on "regulatory guidance" to improve the quality of green finance development.
Carry out green finance evaluation, strengthen supervision and guidance, promote banking and insurance institutions to establish and improve the "six specializations" mechanism for green finance, build a professional green finance service system, cultivate green finance professional teams and talents, implement special incentives for green finance business, open special channels for green finance approval, allocate the scale of special green finance financing, and strengthen the innovation of special green finance products and services. Based on the financing needs of Henan's green industries such as energy, science and technology, agriculture and ecological environment, various banking and insurance institutions have launched a series of green credit products such as "ecological restoration loans", "renewable energy subsidy confirmation financing business", "household photovoltaic loan business", "green wind power loan" and "green pumped storage loan" to serve the green development of Henan's economy with high quality. The province's green credit has maintained a rapid growth rate of more than 25% for many years, and the scale of green credit in 2023 has doubled compared with 2020.
In the next step, the Henan Supervision Bureau of the State Administration of Financial Supervision and Administration will thoroughly implement the new development concept, continue to promote the high-quality development of green finance under the guidance of the "four new" projects, give full play to the important role of the financial industry in promoting the comprehensive green transformation of economic and social development, and actively and steadily contribute to carbon peak and carbon neutrality.