A report on how fintech drives green finance in China was released online in Beijing on Wednesday by the Paulson Institute and the Institute of Finance and Sustainability (IFS).

The report, the third of its kind, examines the policy, market and opportunities regarding fintech's role in driving green finance in China. It presents representative case studies, analyzes existing problems and offers suggestions. The case studies demonstrate how fintech boosts green agriculture, biodiversity protection and inclusive development of micro and small enterprises. 

Deborah M. Lehr, vice chairman and executive director of the Paulson Institute, pointed out that China was at the forefront of the fintech industry and applauded the practical insights into green fintech's future shared in the report. 

IFS President Ma Jun summarized the vital role fintech had played in China's transformation to low-carbon development, including helping set low-carbon standards, developing innovative green financial products and serving the real economy. 

Sun Rui, senior advisor and managing director of the Green Finance Center at the Paulson Institute, noted that fintech enjoys enormous market potential and rich application scenarios in biodiversity protection, inclusive finance, green agriculture and other fields. The deep integration of fintech and green finance will accelerate the realization of China's carbon peak and carbon neutrality goals, Sun added. 

Liu Jialong, director of the ESG Investment Research Center at the IFS, analyzed the challenges faced by fintech and green finance in China, including technology, talent gaps and lack of guidance and regulation. Given this, Liu suggested that regulatory bodies and other government departments should provide policy support to fintech and green finance. Moreover, financial institutions and tech companies should enhance innovation and cooperation. 

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