PBOC Release Emission Reduction Tool with Low 1.75% Loan Rate

On November 8, the People's Bank Of China launched carbon emission reduction support tool to provide financial institutions with low-cost funds, and guide financial institutions to offer emission reduction load for all enterprises without discrimination in the key area under self-made desicision and self-taken risk, which requires the loan interest roughly the same as the market quoted interest rate (LPR) for loans of the same maturity grade.

PBOC greatly supports these three areas of carbon emission reduction, clean energy, energy efficiency and environmental protection, carbon emission reduction technology.

The clean energy field mainly includes wind power generation, solar energy utilization, biomass energy utilization, pumped storage, hydrogen energy utilization, geothermal energy utilization, ocean energy utilization, heat pumps, high-efficiency energy storage (including electrochemical energy storage), smart grid, and large-scale wind power Photovoltaic source-network-load-storage integration project, household distributed photovoltaic whole county promotion, cross-regional clean power transmission system, emergency backup and peak shaving power supply, etc.