The People’s Bank of China (PBOC) is working on a transition taxonomy and looking to create a nature-based taxonomy, according to Dr Ma Jun, Co-Chair of the UK-China Green Finance Centre. Speaking yesterday at the Net Zero Delivery Summit in London, Jun said the PBOC was drafting a transition taxonomy, covering four sectors: coal fired power generation, steel, cement and agriculture. At a local level in China, he said the municipality of Chongqing had just launched a transition taxonomy which had been so far used to finance 90 transition projects with subsidies. Jun also said that the PBOC would be looking to produce a nature-based taxonomy. In related news, Jun said a “common ground taxonomy” used by China and Europe could be expanded to Singapore, UK and maybe the ASEAN region.
