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Project Newsletter Vol2 Oct09 Mar10 English

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  • 1. October 2009-March 2010 Project Updates  The First Internal Training Session Delivered in Sichuan PRCEE led the first internal training session held in Chengdu on 3rd December, 2009. The series of internal training target officials from departments concerned in Sichuan EPB, Sichuan Economic Commission and Sichuan CBRC, as well as experts from local industrial associations and senior executives from banks and steel and iron companies. The objectives of the internal training are to raise awareness and improve understanding of China’s green credit policy for Sichuan provincial government officials, to promote coordination and collaboration on implementing green credit policy within Sichuan EPB, and to promote coordination and collaboration on implementing green credit policy between Sichuan EPB, Sichuan CBRC and commercial banks, with a focus on environmental policy updates and guidance. 33 participants attended the one-day training. Deputy Director-General Yuan Qingdan from PRCEE, and Deputy Division Director Li Xiaowen from the Statistics Department of CBRC Headquarters were the key trainers. The training was regarded by local participants as "timely", "comprehensive", "systematic" and "thought-provoking". Banks representatives were very impressed by the sector research report, as they “had seldom been given such an overall picture about this sector in the province”. The event was observed by a project officer in Climate Change Project from the British Consulate General in Chongqing. -1-
  • 2. Deputy Director-General of PRCEE, Mr. YUAN, Qingdan (second to the right) was speaking at the training workshop. Deputy Division Director Li Xiaowen (fourth to the right) from the Statistics Department of CBRC, is speaking at the workshop.  Foreign Experts Identified to Train Chinese Bankers in 2010 After nearly three months searching and interviewing, two foreign experts were identified as key trainers to deliver two foreign trainers’ training sessions planned in 2010. The first training took place in Beijing on 26-27 January, 2010. The second training session is tentatively scheduled in June 2010. The trainer s’profiles are following: -2-
  • 3. Mr. Robert Tacon, UNEP Finance Initiative Chair Robert has spent most of his career in banking and for 27 years he was with Standard Chartered Bank. He represented the Bank on the British Bankers Association Environmental Committee and integrated environmental criteria into Standard Chartered’s lending policies and procedures in the late 1990s. In 2000 he added social issues to the bank lending policy. Robert was also instrumental in the Bank adopting the Equator Principles and was a member of the revision group that redrafted the Equator Principles II in 2006. Robert was playing an important role in Standard Chartered becoming a member of UNEP FI in 2000 and has been a member of various working groups since then, including the GRI / UNEP FI to develop environmental indicators for the financial industry. Ms. Esther Rodriguez (LLM, MSc. AIEMA), Associate Director, Carbon Smart Esther is a Corporate Social Responsibility (CSR) professional with 10 years experience in socially responsible investment (SRI) and CSR consulting. She has proven track record in promoting sustainable finance among financial institutions through her work with the UN Environment Programme for Financial Institutions (UNEP FI) and the GRI. Esther was the co-Chair of the GRI/UNEP FI Working Group to develop sustainability indicators for the financial industry (2002-08). She verified first carbon neutral bank. She also successfully developed methodology to assure HSBC against Equator Principles and other sustainable finance policies.  SynTao Speaks at China Steel and Iron Sector Sustainable Financing Forum SynTao was invited to speak at the workshop of “Financing Energy Efficiency and GHG Emission Reductions in the Iron and Steel Sector in China” chaired -3-
  • 4. by China EMC Association (EMCA) held on 28 Oct, 2009. The workshop shared the consultation result on financing mechanisms, technologies, barriers and drivers on energy saving and emission reduction projects in the I&S sector in China, and discussed sectoral approaches to international climate change policies, mechanism and financial incentives. SynTao Vice President, Ms. Chen Xiaoyan, reviewed the development of the Green Credit Policy and the impact of the Policy on high polluting and high emission sectors. She also shares the progress of the current SPF-funded Green Credit Policy advisory project with the audience.  Steel and Iron Sector Research Reports’ First Drafts Submitted In the end of November 2009, Sichuan Provincial Steel and Iron sector study on emission reduction potential and investment opportunity was submitted for first round review. Mr. Lan Shi, Vice President of Sichuan Academy of Industrial Environmental Monitoring and Research is leading the provincial study in partnership with Sichuan Economic Commission expert team. Mr. Su Yi, a senior engineer from Environmental Engineering Evaluation Centre -4-
  • 5. (EEEC) of Ministry of Environmental Protection (MEP), leads the national level sector research. His team submitted the first draft for review in mid-December, 2009. Both drafts contain latest data and development of China’s steel and iron enterprises and addressed the overcapacity and emission issues in dedicated areas and provided certain policy implications. Compared to the national report, Sichuan’s study outlined a different picture. It finds that there is shortage of supply in the domestic market due to the unique property of the steel and iron produced in Sichuan (mainly contains rare vanadium and titanium) and the fast growing market demand resulting from the post-quake reconstruction in the province. Both drafts will be reviewed and finalized by April 2010 after a series of internal review workshops.  SynTao Trains Grass-root Environmental NGOs at the Green Banking Workshops in Chongqing and Guangzhou SynTao was invited by Green Watershed to deliver Green Banking training to China’s grass-root environmental NGOs in Chongqing (29th Nov-1st Dec) and Guangzhou (2nd-5th, Dec). The Green Watershed is the Kunming-based NGO which initiated China’s first Green Innovation Bank Award in partnership with other eight native NGOs in 2008. SynTao joined Friends of the Earth, Bank Information Centre, Focus on Global South and BankTrack to delivered thematic training courses to over 60 native environmental NGOs active in South China and Southwest China. Dr. Guo Peiyuan, the General Manager of SynTao, gave the presentation on banks’ environmental and social risks, and issues related to CSR. He also joined the discussion with participants on NGO’s roles in promoting sustainable financing in China, and helping implementation of China’s Green Credit Policy. -5-
  • 6.  The First Foreign Trainers’ Training Session Highly Rated by Participants A foreign trainers’ training session was held in Beijing from 26-27 January, 2010. The target participants include 40 senior executives of major commercial banks, banking regulators and representatives from steel & iron companies and their industrial associations. Mr. Greg Mulheirn, First secretary of Economic Section, the British Embassy addressed at the event. The training session provided global outlook on sustainable financing, and very practical tools such as environmental risk analysis and sustainable financing assurance. The interactive Q & A stimulated many high-quality questions from the participants. According to the questionnaires collected after the training, 97.5% of participants rated the foreign trainers as “good” and “excellent”. 83.1% of participants rated the courses as “very useful” and “extremely useful”. The two-day training was held at Policy Research Centre for Environment and Economy, Ministry of Environmental Protection of PRC. -6-
  • 7. Ms. Esther Rodriguez and Mr. Robert Tacon answering questions at a Q & A session.  Project Team Cooperates with Chevening Programme to Hold Sustainable Financing Seminars in Beijing and Chengdu The project team held two seminars themed in sustainable financing and sustainable banking in Beijing and Chengdu on 28th and 29th January, 2010 respectively. The seminars were supported by the Chevening Programme, a prestige scholarship programme founded by the UK government in 1983. The programme provides nearly 1,000 Scholarships at Higher Education Institutions (HEIs) in the UK for postgraduate students or researchers from over 130 countries. There were around 25 Chevening scholars participated in the seminar held in Beijing, most of whom are from financial regulatory agencies and national financial institutions. Sichuan Environmental Protection Department and Sichuan CBRC provided organizational support to the seminar. Despite local Chevening Scholars, more than 60 participants from local financial regulatory agencies and financial institutions, including Sichuan CBRC, CSRC, CIRC, commercial banks, securities companies and insurance companies. Mr. Bryn James, Climate Change Consul from the British Consulate-General Chongqing gave a keynote speech at the seminar in Chengdu. -7-
  • 8. Both seminars received very positive feedbacks from partner organizations and participants.  Consultation Carried out with Banking Regulator, Commercial Banks and Steel and Iron Companies in Sichuan With the support of the Department of Sichuan Provincial Environmental Protection and CBRC (Sichuan), the project team has started the consultation with local banking regulator, commercial banks and steel and iron companies in Sichuan since March 2010. The aim is to collect feedbacks and inputs from these organizations on drafting the Green Credit Guideline for Sichuan’s Steel and Iron sector. Several commercial banks lending to the sector have been coordinated and their needs will be consulted. The consultation involves visits and interviews. Sustainable Financing News In China  Series of New Financial Regulations Launched to Curb Industrial Overcapacity On 22nd December, 2009, the People’s Bank of China (China’s central bank) has For more details, partnered with CBRC, CSRC and CIRC to promulgate a series of financial please click here regulatory rules to restrict financing to certain sectors with long-standing (Chinese only) overcapacity issues. The new policies will encourage financial institutions to invest in green technology and sustainable projects, while containing the overcapacity in certain sectors, which are also seen as high polluting and high emission sectors.  Industrial Bank Disburses China’s First Project Loan Applying the Equator Principles After one year of adoption the Equator Principles, Industrial Bank, the first For more details, Equator Bank in China, disbursed the first project loan applying the Equator please click here. Principles in China in Dec 2009. -8-
  • 9.  Banking Sector “Should Play Positive Role in Promoting Low Carbon Economy”, Says the Chairman of CBRC For more details, In his speech at China Finance Forum on 24 Dec, 2009, Mr. Liu Mingkang, the please visit Chinese Chairman of CBRC requested the banking sector to become the creator of government Portal low-carbon financial services to support the industrial restructuring and to (Chinese only). provide assistance to energy saving and emission reduction projects, which enables to guide the country to grow toward a low carbon economy.  Environmental Regulators Cooperates with Commercial Banks to Implement the Green Credit Policy in Guangxi For more details, The Environmental Protection Department of Guangxi Zhuang Autonomous please click here Region signed cooperative memorandum with Beibuwan Bank on implementing (Chinese only). the Green Credit Policy on 17 December. According to the agreement, the Bank will not provide loans to any clients unless the borrowers provide clean environmental records, cleared by the regional environmental authorities.  Guangdong Environmental Regulators to Share Enterprises’ Environmental Performance Ratings to Financial Institutions Guangdong Provincial Environmental Protection Department promulgated a new For more details, please click here policy to rate enterprises’ environmental performance which is regularly shared (Chinese only) with banks and securities companies. It imposes punishments to environment violators such as restricting from IPO and accessing to bank loans.  China to Take Three Measures to Control Over-expansion in Industries with Overcapacity 1st March, 2010, The 13th Session of the Standing Committee of the Eleventh For more details, National People’s Congress decides to take measures to refrain over-expansion in please click here (Chinese only): certain industries with overcapacity problems. NDRC will be leading the implementation through 1)Tightening market entry; 2) Coordinating industrial -9-
  • 10. development policies with other policies such as finance, environment, land and financing; 3) Strengthening information guidance. Sustainable Financing News In UK  Carbon Trust Increases Maximum Loan for Energy-saving Projects December 2009--UK businesses planning to invest in energy-efficient plant or For more details, machinery could be eligible for an interest-free loan up to 500,000 pounds. please click here Carbon Trust is a UK government-holded investment company dedicated to supporting energy saving and emission reduction projects.  UK’s Central Bank Urged to Give Climate Scientist a Warm Welcome December, 2009--The UK government's former chief scientific adviser calls for a For more details, climate scientist to be given a seat on the Bank of England's monetary policy please click here. committee, saying the bank currently operates without regard for the environment. UK investors join with politicians for mandatory GHG reporting call January, 2010--A group of UK institutional investors and corporations has joined For more details, with over 50 UK Members of Parliament (MPs), to write to Lord Mandelson, please click here. Secretary of State for Business, calling for greenhouse gas (GHG) reporting to be made mandatory for all large UK organisations as soon as possible. Coming Up Soon  The Mid-term review for the project will be conducted in early April.  The structure of the green credit guideline for steel and iron industry at national level and provincial level to be drafted by March - 10 -
  • 11. Contact Ms. NI, Huan, Project Manager Green Credit Policy Advisory Project SynTao Co., Ltd Room 2302, Jianwai SOHO Building 12, E-mail: nihuan@syntao.com No.39 East 3rd-Ring Road, Chaoyang District, Tel: (China)+86-10-58699466 Beijing, 100022, China (UK)+44-7894 986 156 Fax: +86-10-58699466 ext. 623 Website: www.syntao.com - 11 -

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