East China’s Jiangsu Province has recently introduced a guideline over the development of green finance as part of latest efforts to facilitate its goal of carbon neutrality.

The guideline, a joint effort of 13 provincial departments, includes 30 measures to build a green finance system in line with the province’s development situation. It’s expected to guide and stimulate more financial resources to support energy conservation and carbon emission reduction.

A green finance system including green loans, green insurance, green bonds and green funds is basically taking shape in the coastal province, which also sees more financial products linked to carbon emissions.

According to the guideline, Jiangsu will promote green upgrading of industrial enterprises, accelerate green development in agriculture, advance green transformation of the energy system, and support green and low-carbon technological progress.

Zhu Yichao, director of the Office of Fiscal and Financial Affairs of the Development and Reform Commission, said the commission is working with the Nanjing branch of the People's Bank of China to develop a green finance scheme and support a green technology innovation system.

Meanwhile, the Jiangsu Banking and Insurance Regulatory Commission has launched six measures to enhance the new development pattern of financial services. This September marked the establishment of the Jiangsu Banking Industry Green Finance Professional Committee.

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