Since the “Guidance on Building a Green Finance System” was released in 2016, green finance has been rapidly growing in China. However, the focus has mainly been on large projects and enterprises. Little is applicable to small and medium-sized enterprises and individual consumers. With a goal of leveraging commercial banks’ retail business to support climate mitigation and environmental protection, the Natural Resources Defense Council (NRDC) and the International Institute of Green Finance (IIGF) of Central University of Finance and Economics produced the "Report on the Development of Green Retail Banking in China" in 2019. This report provided a comprehensive review of the green and low-carbon related retail businesses of China's commercial banks, including the definition and background of green retail businesses, summary of relevant policies at both national and provincial level, and analysis on both domestic and international products and practices. The report suggested that the banks could leverage favorable policies of inclusive finance, green consumption and fintech to support the development of their environmental and climate-friendly retail banking businesses. The report also provided specific recommendations for both banks and policymakers.
(This report is in Chinese only.)