CHINA GETS GREENER
A new piece by friend-of-NewEnergyNews Hazel Henderson, a true New Energy pioneer and champion.
Hazel Henderson, April 3, 2015 (CSR Wire)
“Western financial analysts generally misunderstand China’s current restructuring as negative news. China’s President Xi Jinping has committed to transforming China from a resource and pollution intensive economy to a green economy as a strategic priority, including clean energy, energy conservation in industry, buildings and transport, with overall energy efficiency and pollution control…[G]reening a country’s financial system is not an ‘additional’ performance requirement but concerns the efficiency and effectiveness of the whole system. A lack of green financing delivers poor allocation of capital, mispriced risks and weaker long-term performance, creating stresses that lead to financial market instability and underperformance…Over the past 30 years, China grew to become the world’s second largest economy in GDP terms of 10% annually…Additional trillions of RMB are needed to invest in a new green infrastructure, green sectors and cleaner, less wasteful forms of sustainable development. President Xi’s agreement on reducing polluting emissions with US President Obama is another signal of China’s new direction…More impressive are the new reports years in the making of how China is redesigning its financial system to meet the goals of this green transition…[G]reen finance is already developing…” click here for more