Fossil fuels are no longer considered “green” by China’s central bank. The People’s Bank of China plans to remove “clean utilization of fossil fuel” projects from the list of programs that can be funded by green bonds, according to a draft plan released Friday. The bank has drawn the ire of environmentalists for allowing the sustainable financing tools to fund projects that burn coal but use enhanced technologies to reduce air pollution.
Read more at: https://www.bloombergquint.com/global-economics/china-to-take-clean-fossil-fuel-projects-off-green-bond-list
Copyright © BloombergQuint