UNEP welcomes China's efforts in sustainable development
- By Zhang Junmian
0 Comment(s)
Print
E-mail China.org.cn, July 3, 2015
In Noronha's opinion, China's "green credit" policy, which bans banks from lending to companies blacklisted for environmental violations and projects that have failed to comply with relevant rules, can help make big changes to the nature of investments.
Chinese experts' new idea of introducing joint liabilities between the financial institutions and the companies they support in terms of making them accountable in the future is also an important idea in promoting green finance and greener investments, according to the UNEP official.
Noronha reflected that the two new banks -- the BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB) can bring countries together and had the potential to shift investments towards greener areas.
"They [The two banks] are based on the idea of inclusive development, which is important," Noronha said. "They are also important because they signal the will of a growing numbers of developing countries to work with developed countries, to shape finance according to their development needs. "
The US$100 billion BRICS development bank, set up by Brazil, Russia, India, China and South Africa, is expected to start operation by the end of the year, while the founding members of the China-proposed AIIB signed a charter on June 29 which paves the way for the bank's operation by the end of the year.
Noronha also called for greater awareness and protection of natural capital, the world's stocks of natural assets that provide eco-system goods and services to support life.
Noronha explained: "Valuing natural capital is important for improving management decisions. If you include the value of natural capital into your decision-making, you will be more careful about how development decisions are made, and be in a position to decide what to develop, what not to develop and how to develop. It's all about the quality of development."
China has witnessed rapid development over the past 30 years to become the world's second largest economy, but at a steep environmental cost, with much of its air, water and land tainted.
To combat environmental woes, China is making efforts to transform its economic growth pattern into a more sustainable, green and low-carbon model.
The UNEP was one of the first UN organizations to take part in the global forum, which was launched in 2009 as the only national forum for fostering sustainable development and eco-civilization in China.
Go to Forum >>0 Comment(s)