Dalian Jinpu New Area has made a breakthrough in this pilot innovative product to respond to climate change
Recently, with the support and guidance of Dalian Ecological Environment Bureau of Liaoning Province, Dalian Jinpu New Area Ecological Environment Branch and People's Bank of China Jinpu New District Branch, Industrial Bank Dalian Branch and Jinpu New District, as a climate investment and financing pilot area, carried out green finance innovative product cooperation, and provided 16.3 million yuan of medium and long-term financial support for the new distributed photovoltaic project of Huicheng Aluminum Industry in Dalian Jinpu New District, which is the first dual-linked loan in China to help the sustainable development of the distributed photovoltaic industry. CCXGF Technology (Beijing) Co., Ltd. provided professional third-party independent appraisal and certification for the loan.
Climate investment and financing is to guide and promote more funds to be invested in investment and financing activities in the field of climate change in order to achieve the nationally determined contributions and low-carbon development goals. Since Dalian Jinpu New Area was selected as one of the first batch of national climate investment and financing pilots in August 2022, it has adhered to the goal orientation, actively integrated resources, deeply promoted the innovation of climate finance products and services, and continuously explored differentiated and characteristic climate investment and financing paths, forming the characteristics of climate investment and financing. This dual-linked loan for sustainable development is another vivid practice of Jinpu New Area's promotion of climate investment and financing pilots.
The Loan Market Association (LMA), the Asia Pacific Loan Market Association, and the Syndicate & Exchange Association have defined a sustainability bi-linked loan, which means that the economic characteristics of a loan are based on whether the borrower achieves pre-set sustainability performance indicators. The sustainability-linked loan in Jinpu New Area, Dalian City, has the characteristics of double linkage, and the loan interest rate is linked to the borrower's cumulative installed capacity of distributed photovoltaic projects and the number of projects that have obtained the "Renewable Energy Green Power Certificate" issued by the National Energy Administration as performance indicators, and if the enterprise fails to meet the established target, the loan interest rate will be increased during the subsequent interest-bearing period. It is expected to reduce carbon dioxide emissions by about 10,296.78 tons, save 3,560.49 tons of fossil energy, reduce sulfur dioxide emissions by 1.25 tons, reduce nitrogen oxide emissions by 1.88 tons, and reduce soot emissions by 0.27 tons per year.
In the next step, Dalian Jinpu New Area will rely on the opportunity of climate investment and financing pilot construction, closely follow the main line of high-quality development, gather more high-quality financial resources, effectively reduce the financing cost of climate projects, promote regional green and low-carbon transformation, and help achieve the goal of carbon peak and carbon neutrality.
