“While ensuring the security of energy supply, [we will] support the economy to transform toward a green and low-carbon one, in a move to help achieve the goal of carbon neutrality in a scientific and orderly way,” PBOC said in a statement.

The People’s Bank of China (PBOC) will extend three lending tools for carbon reduction to support green development, it recently announced. The central bank will extend a lending tool for supporting carbon emissions reduction to the end of 2024 and also roll over a re-lending tool for the clean and efficient use of coal to the end of 2023.

It will also extend a re-lending tool for the transportation and logistics sectors to the end of June this year, state media outlets reported.

Fibre2Fashion News Desk (DS)