The knowledge and support technical assistance (TA) will promote and increase the participation of private capital in climate financing in the People's Republic of China (PRC). The TA will address the information and resource asymmetry in climate change mitigation investment to improve access to finance, the carbon market, and technological tools among financial investors, technology providers, and policy makers. This will support evidence-based and strategically sound investment that would drive the PRC's economy toward the higher end of the value chain and generate sustainable greenhouse gas emissions reduction impacts.
|Project Name||Climate Change Financing Acceleration Platform|
|Country||China, People's Republic of
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Environmentally sustainable growth
Inclusive economic growth
|Drivers of Change||Gender Equity and Mainstreaming
Governance and capacity development
Private sector development
|Sector / Subsector||
Energy / Energy efficiency and conservation - Energy sector development and institutional reform - Renewable energy generation - solar
|Gender Equity and Mainstreaming||Some gender elements|
|Description||The knowledge and support technical assistance (TA) will promote and increase the participation of private capital in climate financing in the People's Republic of China (PRC). The TA will address the information and resource asymmetry in climate change mitigation investment to improve access to finance, the carbon market, and technological tools among financial investors, technology providers, and policy makers. This will support evidence-based and strategically sound investment that would drive the PRC's economy toward the higher end of the value chain and generate sustainable greenhouse gas emissions reduction impacts.|
|Project Rationale and Linkage to Country/Regional Strategy||There is an urgent need to create a climate change financing acceleration platform and deploy fintech to (i) define climate change financing and climate change mitigation technologies, (ii) break the deadlock between technology provider and financier to reach a mutually recognizable tracing and verification system through blockchain applications, and (iii) drive investment to the low-carbon technology innovation areas that are needed most. To achieve this, the TA identifies carbon and its integration with blockchain as an innovative financial derivative requiring a government-led climate change financing acceleration platform to leverage private investments and further develop carbon trading. Further, the proposed platform provides a market-oriented and fintech-driven system to consolidate climate change mitigation projects through climate financing policies and standards, gearing toward quantifiable and tradable CO2 emissions reduction, consistent with the government's task of promoting climate financing. Moreover, the platform intends to identify cutting-edge climate financing projects available for ADB's future support and investment. ADB's past support for climate change and clean investment in the PRC includes pilot testing of the Tianjin emissions trading scheme, renewable energy development, energy efficiency, low-carbon infrastructure, and carbon capture and storage projects for enhancing the PRC's energy conservation and greenhouse gas emissions reduction.|
|Impact||Carbon emission peaking point in the PRC achieved earlier than 2030.|
|Description of Outcome||Investment-efficient policies and guidelines for climate financing and climate-resilient technologies improved|
|Progress Toward Outcome||Being achieved.|
|Description of Project Outputs||
1. Climate financing scope, standards and evaluation methodology, policies and implementation guidelines for climate change mitigation projects formulated.
2. Fintech climate change financing acceleration platform established
3. Capacity building and knowledge sharing on climate financing enhanced
|Status of Implementation Progress (Outputs, Activities, and Issues)||Being implemented with consultants being recruited.|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Responsible ADB Officer||Liu, Xinjian|
|Responsible ADB Department||East Asia Department|
|Responsible ADB Division||PRC Resident Mission|
Ministry of Ecology and Environment, Department of Climate Change
No.115 Nanxiaojie Xizhimen Beijing National Energy Administration
38 Yuetan Nanjie, Beijing, 100824
|Concept Clearance||13 Mar 2020|
|Fact Finding||27 May 2020 to 28 May 2020|
|Approval||08 Sep 2020|
|Last Review Mission||-|
|Last PDS Update||18 Mar 2021|
|Approval||Signing Date||Effectivity Date||Closing|
|08 Sep 2020||03 Oct 2020||03 Oct 2020||31 Oct 2022||-||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|0.00||1,000,000.00||0.00||0.00||0.00||0.00||1,000,000.00||08 Sep 2020||0.00|
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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Climate Change Financing Acceleration Platform: Technical Assistance Report||Technical Assistance Reports||Sep 2020|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
|Tender Title||Type||Status||Posting Date||Deadline|
|Energy Project Development Expert||Individual - Consulting||Closed||20 Mar 2021||26 Mar 2021|
|Consulting Firm - QBS||Firm - Consulting||Closed||05 Feb 2021||19 Mar 2021|
|Climate change mitigation technology project database and CCFAP operation designer||Individual - Consulting||Closed||01 Feb 2021||07 Feb 2021|
|Climate Financing Legal and Regulatory Risk Management Expert||Individual - Consulting||Closed||01 Feb 2021||07 Feb 2021|
|Energy Project Development Expert||Individual - Consulting||Closed||01 Feb 2021||07 Feb 2021|
|Contract Title||Approval Number||Contract Date||Contractor||Contractor Address||Executing Agency||Contract Description||Total Contract Amount (US$)||Contract Amount Financed by ADB (US$)|
|Capacity Development||Technical Assistance 6560||30 Jun 2021||China Beijing Green Exchange in association with Beijing Green Finance Association||F5, Building 1, Yard No.1 Yuetannan Stre Xicheng District, Beijing, China||Min of Ecology &Environment,Dept of Climate Change||895,670.00||—|
None currently available.