The Committee on Proposals of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a consultation meeting on June 8, focusing on the key proposals of further improving financial standards and policy systems for green and low-carbon development.

During the first session of the 14th CPPCC National Committee, the issue of improving financial standards and policy systems for green and low-carbon development was a focal point of attention from all parties. The central committees of the China Zhi Gong Party and the Jiu San Society, as well as some members of the CPPCC National Committee, put forward a number of proposals on the topic.

After deliberation at the Chairperson’s Council meeting of the CPPCC National Committee, the proposal on further improving green and low-carbon financial standards and policy systems was chosen as one of 72 key proposals, which will be handled at a consultation meeting under the supervision of the Committee on Proposals of the CPPCC National Committee.

At the consultation meeting, representatives of the proposing parties and CPPCC National Committee members introduced the proposal's background, related problems, and their opinions and suggestions. Attendees discussed and exchanged views on the proposal.

At the meeting, CPPCC members agreed that achieving carbon peak and carbon neutrality goals is a major strategic decision made by the Central Committee of the Communist Party of China, an inherent requirement for China to achieve sustainable and high-quality development, and a critical issue on the sustainable development of the Chinese nation and the building of a community with a shared future for mankind. Achieving the nation's dual carbon goals involves all aspects of social and economic development, in which finance plays an important role.

They said that it is of great urgency to promote the construction of standardized systems of green finance, improve standards of green industries, green credit, green funds and green insurance, and gradually realize the goal of unifying green finance standards.

It is important to improve financial policies and regulatory systems for green and low-carbon development, guide, support and regulate financial institutions in promoting the implementation of green and low-carbon financial strategies in an effective and orderly way, and improve the portfolio of green and low-carbon financial products to form a multi-level green financial system, they said.

They called for efforts to strengthen the publicity of relevant policies, coordinate the participation of all parties, and integrate green and low-carbon finance work into the overall situation of ecological civilization construction and promoting high-quality development.

Officials of the relevant departments of the People's Bank of China, the National Administration of Financial Regulation, and the China Securities Regulatory Commission made introductions and answered questions.