The country’s first green finance regulations are promulgated and will be officially implemented on March 1 next year
It is understood that the”Green Gold Regulations” fully clarifies the main responsibilities of financial institutions and green enterprises, stipulates the supervision and management measures of government departments and the central financial regulatory agency in Shenzhen, and has created a national Even the precedent in the field of international green finance has provided Shenzhen with a guarantee for the establishment of a financial ecological environment and a legal business environment that is more conducive to the development of emerging green industries and the greening of traditional industries, and has provided a pioneering model for the legal development of green finance in the country.
The”Green Gold Regulations” innovatively requires various financial institutions to establish internal green financial management systems, including bank green credit management systems, insurance green investment management systems, and institutional investors green investment management systems. Encourage financial institutions to set up branches, business departments, business departments, etc. that specialize in green finance business, and establish and improve organizational structures, performance appraisals, incentives and constraints, and internal control systems.
In order to implement the social responsibility of financial institutions to protect the ecological environment and improve the evaluation and management system of financial institutions on investment projects, the”Green Gold Regulations” created a green investment evaluation system:the total amount of investment projects reached 50 million yuan Or for projects with annual greenhouse gas emissions expected to exceed 3,000 tons, financial institutions are required to carry out pre-investment assessment and post-investment management, and strictly control green checks in the investment process.
The”Green Gold Regulations” draws on the cutting-edge practical experience of international green finance, breaks through the existing regulations, and requires listed companies in the financial industry registered in the special zone, green financial bond issuers and financial institutions that have already enjoyed preferential green financial policies. The organization fulfills the responsibility of environmental information disclosure, and clearly stipulates the content, form, time and method of environmental information disclosure.
For traditional financial institutions (non-listed) such as banks, public equity and private equity funds, regulatory authorities rarely have mandatory requirements for the disclosure of environmental information. The”Green Gold Regulations” breakthrough requires some of the aforementioned financial institutions to disclose environmental information, and according to the actual situation, proposes a scaled and step-by-step implementation, which provides a buffer for regulatory authorities, financial institutions and entities to implement relevant requirements.
The”Green Finance Regulations” optimizes the government’s guiding and incentive role, establishes corresponding systems, clarifies a number of government services and measures to promote the development of green finance, and establishes plans covering green finance development plans, fiscal and tax subsidies, and government Guide a series of policy support systems such as profit distribution, risk sharing, talent construction, convenient channels, and commendation and rewards. At the same time, the”Green Gold Regulations” stipulate specific measures for the guidance and support of green finance within the scope of their duties by the central financial regulatory agency in Shenzhen and the Shenzhen Stock Exchange.
The development of green finance is the general trend, and various products and services will continue to emerge. However, how to strike a balance between innovation and risk management has become a problem that plagues financial regulatory authorities. According to the division of relevant responsibilities of the central and local governments, the Green Finance Regulations stipulate specific measures for green finance supervision and risk prevention, and strengthen the risk management of cross-cutting financial businesses. At the same time, the”Green Gold Regulations” grants the local financial regulatory authority of Shenzhen Municipality some administrative penalties in the field of green finance, and stipulates that financial institutions shall be punished for illegal activities in the establishment of internal green management systems, green investment assessments and environmental information disclosure. Standardize and strengthen the regulatory functions in the field of green finance, creating a good legal environment for the development of green finance.