Since the launch of the 14th Five-Year Plan (2021–25), Chinaʼs state ministries and commissions have issued a number of documents that create a “1+N” policy system for carbon peak and carbon neutrality, stating that industry is a key area for promoting carbon peak and carbon neutrality.
In recent years, green finance in China has developed rapidly, boosting confidence in the transition of the entire market. However, green finance investments have mostly focused on “pure green” projects with high technological maturity, such as clean energy, green transportation, and green building. For industries with high carbon emissions, such as heavy industry, or projects at relatively early stages of technology development, financial support remains insufficient, making it difficult to meet the transition needs of these sectors.
This report “Financing the Low-Carbon Transition in Heavy Industry” prepared by RMI and Climate Bonds Initiative gives an insight on designing financing mechanisms to channel more funds into the low-carbon transition of heavy industry, especially for research, development, and promotion of innovative technologies, will be a key opportunity and challenge in achieving a net-zero future.
Access the complete report here
