A Chinese translation of the Green Investment Bank (GIB)’s handbook has been presented to Chinese officials by energy secretary Amber Rudd during the Government’s current trade mission to Beijing.
The handbook, which outlines the practical tools GIB uses on a daily basis to assess, monitor and report the green impact of investments, was given to representatives of the China Clean Development Mechanism Fund (CCDMF).
It includes guidelines, checklists and templates, from due diligence and how the bank assesses risk to reporting frameworks and details of how it makes green impact calculations.
Rudd (pictured) said: “Harnessing private sector investment is critical if we are to meet the climate change challenge in the most cost effective way. The GIB has proved to be a successful and innovative mechanism and will push capital into the UK’s green economy.
“I am delighted that we are now sharing the GIB’s experience with China to support its transition to a greener low carbon economy.
GIB chief executive, Shaun Kingsbury said: “I hope it will make a significant contribution to the wider movement to improve the standardisation of green impact assessment across the investment community.”
CCDMF director general, Chen Huan said: “International cooperation has been a core part of the fund and as such I am pleased we are working with fellow innovator, the GIB.
“Its handbook on green investing is a comprehensive yet immensely practical guide. It has made a difference internationally and we are delighted to be promoting it together with the GIB in China.”