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IFC Marks Ten Years of its Green Financing Program in China

Beijing, November 15, 2016 - IFC, a member of the World Bank Group, today marked the tenth anniversary of its Climate Finance Advisory Program (CHUEE) in China. It renewed its commitment to promote green finance and expand private - sector engagement in sustainable energy .
Over 150 guests—government officials, business partners, donors, and IFC clients—participated in the China Climate Finance Advisory Ten Years Knowledge Forum to celebrate the success of the program and discuss the role of green finance in China.  Fifteen distinguished panelists discussed the pivotal roles of the Chinese government and local financial institutions in the development of green finance and the emerging opportunities in the country’s climate finance market.
As China grows by leaps and bounds, so have its greenhouse - gas emissions—accounting for just under 30 percent of the world’s annual total. IFC’s CHUEE was established in 2006 in an effort to halt and reverse this trend . It has since enabled key players in China's economy to collaborate to create a sustainable green-financing model.
CHUEE helps guide investments and provides in-depth advisory services to financial institutions, helping banks grow their green portfolios and change their perceptions of risks related to sustainable-energy projects. Over the past decade, the program—with its innovative financial products and advisory services—has helped its partners build and grow their green portfolios to over $100 billion dollars.  These portfolios have helped reduce greenhouse - gas emissions by more than 93 million tons per year, equivalent to taking 18.5 million cars off the road.
“IFC’s program in China will continue to stay at the forefront of climate finance , ” said Vivek Pathak, IFC’s Director for East Asia and Pacific. “We are committed to working with our partners to build a greener China in the coming years.”  
“CHUEE is a key platform to promote green finance in China. By working with IFC, we have grown our green portfolios significantly over the past years,” said Mr. Xu Ningyue, Vice President of Bank of Beijing. “We also appreciate CHUEE’s new initiative, Green Finance Certificate Program, which has helped us to train the needed green finance talent. I highly recommend other financial institutions to join IFC Green Finance Certificate Program.”
China’s new economic blueprint places a premium on innovation and technology that is driving clean energy, energy efficiency, cutting air pollution, and ensuring that growth is less carbon intensive.  IFC remains committed to helping China work with the private sector to boost green innovation and reduce environmental costs and waste. IFC will continue to promote the business case for private companies to participate in green activities at all levels of the Chinese economy.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit .
IFC’s China Climate Finance Advisory Program has spurred China’s banking sector into energy-efficient (EE) and renewable energy (RE) markets. Since 2006, the program has worked with eight Chinese banks to build profitable lending portfolios and develop broader green finance capabilities. To date, through IFC’s Risk Sharing Facilities (RSFs), the program has mobilized $2.29 billion in investments that have helped reduce more than 22 million tons of greenhouse-gas (GHG) emissions every year. More significantly, through IFC’s advisory work, IFC’s partner banks have leveraged the RSFs to grow their green portfolios to over $100 billion. The FIs report these portfolios have helped reduce GHG emissions by more than 93 million tons per annum, equivalent to taking more than 18.5m cars off the road.