China, People's Republic of : Study on Beijing Green Finance Development Strategy
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 Details
-
Project Officer
Shiroishi, Hiroko Uchimura
East Asia Department
Request for information -
Country/Economy
China, People's Republic of -
Modality
-
Sector
- Finance
| Project Name | Study on Beijing Green Finance Development Strategy | ||||
| Project Number | 44043-012 | ||||
| Country / Economy | China, People's Republic of |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Knowledge solutions |
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| Sector / Subsector | Finance / Finance sector development |
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| Gender | No gender elements | ||||
| 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 | |
| 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 | Shiroishi, Hiroko Uchimura |
| 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 Work The 3rd Floord, No 2. Courtyard Huaibaishu Street, Xuanwu District Beijing, P.R.C. 100053 |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | - |
| 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 | 27 May 2014 |
| 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 | 17 Jun 2022 | 468,900.67 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Study on Beijing Green Finance Development Strategy - Final Report: Consultant's Report | Consultants' Reports | Dec 2014 |
| Study on Beijing Green Finance Development Strategy | TA Completion Reports | Jun 2014 |
| Study on Beijing Green Finance Development Strategy | Technical Assistance Reports | Sep 2010 |
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