The CECEP’s Regional Emission Reduction and Pollution Control Fund Project for Beijing-Tianjin-Hebei Air Pollution Prevention and Control (hereinafter “CECEP ADB-funded project”) was recently promoted and demonstrated as a role model of projects funded by the Asian Development Bank (ADB) in 2020 at the online seminar on inspection of ADB projects by country.
In 2018, the ADB, China’s Ministry of Finance and the National Development and Reform Commission decided to innovatively establish a US$500 million sovereignty fund under the management of CECEP to mobilize private capital to support projects related to energy conservation, emission reduction, and air pollution control in eight municipalities, provinces and autonomous regions including Beijing, Tianjin and Hebei. By the end of December 2020, the program had set up a parent fund, a regional fund and an industry fund, approved and completed loaning more than 1.3 billion yuan to six projects with a total investment of nearly 3.5 billion yuan, and stimulated private capital of 2.1 billion yuan. The projects involve businesses ranging from energy conservation, emission reduction, and clean energy to circular utilization of resources. After those projects are put into operation, they are expected to annually reduce coal utilization by 724,100 tons, cut CO2 emissions by nearly 1.7 million tons, provide heating for 13,000 rural households, and offer centralized heating supply of more 10.57 million square meters for urban residents.
