Green finance booms in Taiyuan's treasure land
2024-08-19
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Taiyuan signed a strategic cooperation agreement on the construction of a climate investment and financing pilot project with the China-Europe Promotion Association, Qinghuan Zhiyuan (Beijing) Technology Co., Ltd. and other institutions, and carried out cooperation in climate investment and financing, product carbon footprint standard research and other aspects. Photo by Niu Limin
During the 2023 Taiyuan Energy Low-Carbon Development Forum, Taiyuan held a parallel forum on climate investment and financing. Taiyuan initiated the establishment of the Central Shanxi Urban Agglomeration Climate Investment and Financing Alliance to lead and drive the development of the urban agglomeration. Photo by Niu Limin
The Taiyuan Wusu International Airport Phase III expansion project uses a loan from the New Development Bank to build facilities such as solar-storage direct-flexible zero-carbon buildings and zero-carbon energy centers. Once completed, it will become the first zero-carbon airport in China. Photo by Niu Limin
The Shanxi Energy Conservation and Environmental Protection and "Dual Carbon" Technology Products Expo were held in Taiyuan. The exhibition showcased new "dual carbon" technologies and products and explored new paths for green transformation under the background of "dual carbon". Photo by Wang Yunfei
How can a traditional old industrial base be transformed into a low-carbon city? Developing climate investment and financing is a key measure to achieve the "dual carbon" goals and an important support for the sustainable development of cities.
Continue to promote the construction of a climate investment and financing project database, actively connect with international and domestic professional institutions and enterprises to carry out innovative cooperation, and initiate the establishment of the Shanxi Central Urban Agglomeration Climate Investment and Financing Alliance... Since being selected as one of the first batch of national climate investment and financing pilot cities in 2022, Taiyuan has been working hard to write its answer sheet.
Major projects attract money
Shanxi Sijian Group announced on August 3 that the pipeline rerouting project of the third phase of the expansion and renovation of Taiyuan Wusu International Airport has been successfully connected through the top pipe of Airport East Road. This solves the gas interconnection problem caused by the Airport East Road viaduct and other complex pipeline layouts. Shanxi Aviation Industry Group took the opportunity of the third phase of the expansion and renovation of Taiyuan Wusu International Airport to build a zero-carbon airport. At the end of 2023, the National Development and Reform Commission and the Ministry of Finance formulated a plan for alternative projects to use loans from the New Development Bank, and the Taiyuan Wusu Zero-Carbon Airport project was among them. The project uses a loan of US$300 million from the New Development Bank to build a solar-storage direct-flexible zero-carbon building, a zero-carbon energy center, a smart operation and control center, a smart pipe network system, and a new energy vehicle and "solar-storage-charging" integrated charging station, and realize the low-carbon upgrade and renewal of buildings and supporting systems.
After being selected as a national pilot city for climate investment and financing, Taiyuan launched six major projects, including adjusting the industrial structure to reduce carbon emissions and optimizing the energy structure to reduce carbon emissions. On the basis of focusing on factors such as climate effects, social impacts, and investment scale, Taiyuan established a climate investment and financing project library that year, selecting 125 climate investment and financing projects with a total investment of 398 billion yuan. The project library covers low-carbon industries, clean and low-carbon energy, low-carbon transportation, low-carbon buildings and other industries, including climate change mitigation projects, climate change adaptation projects, and projects that have both mitigation and adaptation effects.
Taiyuan continues to promote the construction of a climate investment and financing project database. As of the end of June, there were 186 climate investment and financing reserve projects, of which 52 projects received a total bank credit of 42.247 billion yuan and a total loan of 17.782 billion yuan; the Taiyuan Climate Investment and Financing Project Database Government-Bank-Enterprise Docking Platform started internal testing, laying the foundation for promoting efficient docking between industry and finance.
Shanghai Pudong Development Bank Taiyuan Branch cooperated with Shanxi Environment and Energy Trading Center to provide 80 million yuan of financing support for a cogeneration project in Taiyuan, and directly linked the carbon emission reduction performance index of the project with the loan interest rate. If the enterprise reaches the carbon emission reduction target within the agreed period, the loan interest rate can be stepped down according to the agreement, thereby reducing the financing cost of the enterprise.
Multi-party cooperation to reduce carbon emissions
Taiyuan is not walking alone on the low-carbon road.
On May 28, a seminar on the collection and reserve of climate investment and financing projects in the Central Shanxi Urban Agglomeration was held in Taiyuan, where members of the Central Shanxi Urban Agglomeration Climate Investment and Financing Alliance shared their experiences in the pilot of climate investment and financing. The Central Shanxi Urban Agglomeration is the core of Shanxi's new layout of urban and rural regional development of "one group, two districts and three circles". Relying on the advantages of the concentration of financial resources in the provincial capital, Taiyuan initiated the establishment of the Central Shanxi Urban Agglomeration Climate Investment and Financing Alliance in 2023. This not only opens a new chapter in the cooperation of the Central Shanxi Urban Agglomeration, but also provides a platform for Taiyuan to play a central radiation role and promote the high-quality development of the Central Shanxi Urban Agglomeration.
After the establishment of the alliance, Taiyuan, Xinzhou, Yangquan, Jinzhong and Luliang jointly promoted the construction of a climate investment and financing service system covering the entire province, promoted policy coordination, product innovation, scenario development, project library construction and research platform creation in the field of climate investment and financing, learned from each other, supported and assisted each other, jointly explored innovations, and jointly opened up cooperation to provide innovative samples for the development of climate investment and financing.
Through the Taiyuan Energy Low-carbon Development Forum, Taiyuan has found many partners. At the 2023 Taiyuan Energy Low-carbon Development Forum Climate Investment and Financing Parallel Forum, Taiyuan held a signing ceremony for the cooperation in the construction of a climate investment and financing pilot project. The Taiyuan City Climate Change Leading Group Office signed a number of strategic cooperation agreements on the construction of climate investment and financing pilot projects with relevant institutions and enterprises.
According to relevant agreements, Shanxi Bank and Shanghai Pudong Development Bank will each provide Taiyuan with an intended comprehensive financial service support of no less than 10 billion yuan in the fields of ecological environment protection and climate change response within five years; the China-Europe Promotion Association and Taiyuan jointly initiated the establishment of the "Taiyuan China-Europe Carbon Footprint Innovation Center" to promote product carbon footprint standard research and certification services; Qinghuan Zhiyuan (Beijing) Technology Co., Ltd. and Taiyuan have cooperated on the "energy, carbon and pollution" smart management platform to enable the green and low-carbon transformation of traditional industries; Rising Sun (Shanxi) International Supply Chain Group Co., Ltd. and Taiyuan jointly promoted green transportation construction and explored innovative solutions for pollution reduction and carbon reduction in the transportation field.
Green kinetic energy release
During the climate investment and financing pilot process, Taiyuan based itself on the green and low-carbon development of energy and heavy industrial cities and the strategic goals of achieving carbon peak and carbon neutrality, relying on its comparative advantages such as outstanding location advantages, pilot demonstration coordination, rich innovative practices, and strong financial guarantees to promote the accelerated release of green development momentum.
As a typical resource-based city, Taiyuan has prominent high-carbon emission characteristics. The green and low-carbon transformation and development of related industries and enterprises face problems such as high financing costs and difficulties in financing. Under the guidance of policies, climate investment and financing, a new outlet, has received more and more attention. Taiyuan has continuously introduced high-quality projects to financial institutions through activities such as production and demand matching meetings, industry-finance matching meetings, and project promotion meetings, and has launched a series of "sustainable development linkage" products, promoted the application of green financial tools, and established a "dual carbon" business platform... The vitality of financial empowerment of climate investment and financing has been continuously improved.
In order to stimulate the enthusiasm of financial institutions to actively participate in the pilot construction, Taiyuan issued the "Notice on the Collection of Green Innovation Financial Products" in June, collecting and organizing 55 green innovation financial products, and planning to carry out the collection of climate investment and financing projects and typical cases.
Yang Jisheng, director of the Atmospheric Environment Section of the Municipal Ecological Environment Bureau, said at a recent press conference that according to the latest self-assessment requirements of the Ministry of Ecology and Environment, a systematic assessment was conducted on the completion of relevant goals such as "regional high-quality development" and "local climate investment and financing development" and the progress of pilot construction work, identifying problems in pilot construction and proposing the next work plan. At the same time, we will learn from the reform and innovation measures of advanced regions, carefully study the innovative measures of advanced regions at home and abroad in green financial regulatory service mechanisms and climate investment and financing project libraries, promote the construction of the China-Europe Carbon Footprint Innovation Center in Taiyuan, plan to introduce international advanced innovation resources, and further promote industrial and financial cooperation.
Fresh air, green mountains and clear waters are the ideal aspirations of people for their homeland, and they are also the goals of the Taiyuan climate investment and financing pilot project.
Reporter He Baoguo Taiyuan Daily
