China, People's Republic of: Study on Beijing Green Finance Development Strategy

Sovereign Project | 44043-012

Summary

The goal of this TA is to provide a roadmap for Beijing to develop into a world class hub in green finance. Specifically, this roadmap should lead Beijing to become: (i) a carbon asset management center, (ii) a major carbon finance transaction center, (iii) an important stakeholder in international green finance, and (iv) a strong influence over the development of the global low carbon revolution. Currently, the largest and most developed market for emissions is in carbon dioxide. Therefore, while the discussions will initially be centered on carbon markets and transaction; it is anticipated that the methodology will develop to encompass other types of emissions.

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Project Name Study on Beijing Green Finance Development Strategy
Project Number 44043-012
Country China, People's Republic of
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7589-PRC: Study on Beijing Green Finance Development Strategy
Technical Assistance Special Fund US$ 500,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change
Sector / Subsector Finance - Finance sector development
Gender Equity and Mainstreaming
Description The goal of this TA is to provide a roadmap for Beijing to develop into a world class hub in green finance. Specifically, this roadmap should lead Beijing to become: (i) a carbon asset management center, (ii) a major carbon finance transaction center, (iii) an important stakeholder in international green finance, and (iv) a strong influence over the development of the global low carbon revolution. Currently, the largest and most developed market for emissions is in carbon dioxide. Therefore, while the discussions will initially be centered on carbon markets and transaction; it is anticipated that the methodology will develop to encompass other types of emissions.
Project Rationale and Linkage to Country/Regional Strategy
Impact Beijing pilot CFD is established and the CBEEX develops to be a major carbon market in the PRC
Project Outcome
Description of Outcome The detailed road map for development of the carbon market in the PRC and eatablishment of the Beijing pilot CFD is proposed to the key government agencies.
Progress Toward Outcome

All project activities have been conducted and completed by 31 December 2013.

Road map was submitted to the government.

Implementation Progress
Description of Project Outputs

Reports on state of carbon market in China and potential for future development.

The roadmap and schedule for the development of the Beijing Carbon Finance Center and role of CBEEX.

Recommendations to the Beijing Financial Office.

Seminars and training session to recommending plan for green finance center in Beijing.

International study tours and seminars.

Key issues in the development of the carbon market in the PRC and establishment of the CFD identified.

Policy recommendations and advice to the Beijing Municipal Bureau of Financial Work.

Key stakeholder understanding of the importance of the carbon market in the PRC and the establishment of the CFD through seminars and workshops.

Key issues in the development of the carbon market in the PRC and establishment of the CFD identified.

Policy recommendations and advice to the Beijing Municipal Bureau of Financial Work

Key stakeholder understanding of the importance of the carbon market in the PRC and the establishment of the CFD through seminars.

Status of Implementation Progress (Outputs, Activities, and Issues)

The final workshop was organized in October 2013 to discuss and disseminate the final project report.

- After the final workshop, the final report was completed and submitted to the EA, the IA and ADB by the end of December 2013.

- All project activities were comleted by the end of December 2013, as scheduled.

Geographical Location PRC
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation The stakeholders are the relevant governments, financial institutions, and related enterprises. The focal issues have been discussed among the stakeholders at the workshops, and the draft reports have been disseminated at the workshops.
Business Opportunities
Consulting Services The IA in coordination with ADB will recruit the consultant.
Procurement The TA will engage a team of consultants with expertise in carbon finance, environmental law, and exchange establishment and operations. Three international consultants (total of 8 person-months) and four national consultants (total of 17 person-months) will be engaged.
Responsible ADB Officer Hiroko Uchimura-Shiroishi
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Beijing Municipal Bureau of Financial WorkThe 3rd Floor, No 2. Courtyard
Huaibaishu Street, Xuanwu District
Beijing, P.R.C. 100053
Timetable
Concept Clearance 09 Apr 2010
Fact Finding 20 Apr 2010 to 27 Apr 2010
MRM -
Approval 03 Sep 2010
Last Review Mission -
PDS Creation Date 13 Jul 2010
Last PDS Update 26 Mar 2014

TA 7589-PRC

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
03 Sep 2010 04 Oct 2010 04 Oct 2010 30 Sep 2012 31 Dec 2013 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 0.00 0.00 0.00 0.00 500,000.00 03 Sep 2010 468,900.67

Safeguard Documents

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Evaluation Documents

See also: Independent Evaluation

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