fbpx 53224-001: Climate Change Financing Acceleration Platform | Asian Development Bank

China, People's Republic of: Climate Change Financing Acceleration Platform

Sovereign (Public) Project | 53224-001 Status: Approved

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 Details

Project Officer
Lu, Lanlan East Asia Department Request for information
Country
  • China, People's Republic of
Sector
  • Energy
 
Project Name Climate Change Financing Acceleration Platform
Project Number 53224-001
Country China, People's Republic of
Project Status Approved
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6560-PRC: Climate Change Financing Acceleration Platform
Clean Energy Fund under the Clean Energy Financing Partnership Facility US$ 1.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
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.
Project Outcome
Description of Outcome Investment-efficient policies and guidelines for climate financing and climate-resilient technologies improved
Progress Toward Outcome
Implementation Progress
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)
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Lu, Lanlan
Responsible ADB Department East Asia Department
Responsible ADB Division PRC Resident Mission
Executing Agencies
Ministry of Ecology and Environment, Department of Climate Change
No.115 Nanxiaojie Xizhimen Beijing
National Energy Administration
38 Yuetan Nanjie, Beijing, 100824
Timetable
Concept Clearance 13 Mar 2020
Fact Finding 27 May 2020 to 28 May 2020
MRM -
Approval 08 Sep 2020
Last Review Mission -
Last PDS Update 11 Sep 2020

TA 6560-PRC

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
08 Sep 2020 - - 31 Oct 2022 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
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.

None currently available.

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.

Related Publications

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.

Tenders

No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.