Aug 152013
 
By Rey Edward, on Aug 15, 2013. Originally published on ChinaDialog.net .

Last week finance watchdogs, Market Forces and BankTracknotified eight Chinese banks that loans issued to Australian coal projects may violate a Chinese banking policy. The policy, known as the Green Credit Directive, is one of the most innovative green finance policies produced by Chinese authorities to date. The policy requires Chinese banks to suspend, or even terminate, lending to projects based on environmental grounds. This marks the first time that NGOs have attempted to invoke the policy and persuade Chinese banks to re-evaluate the quality of loans based solely on environmental risks.

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