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The China Energy Conservation and Environmental Protection Group (CECEP) won the 2021 International Finance Forum (IFF) Global Green Finance Innovation Award at the IFF 18th Annual Meeting held on December 4. Among the 10 award-winners, the CECEP is the only central state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
The IFF Global Green Finance Innovation Award is known as the Finance 20 (F20) in the global financial realm. It aims to give commendation to innovative solutions and organizations that have made impressive contributions to promoting biodiversity and climate investment and finance. The judging panel comprises 25 people with great international influence, including political leaders and representatives from the finance industry and the field of environmental protection. The panel consisted of former Prime Minister of the Republic of Korea Han Seung-soo, former Belgian Prime Minister Herman Van Rompuy, and former Prime Minister of New Zealand Jennifer Mary Shipley, as well as representatives from the CPPCC National Committee, the National Council for Social Security Fund, the United Nations Environment Programme and the World Bank.
Ten organizations, including China Construction Bank, Standard Chartered Bank, the People’s Insurance Group and other Global 500 corporations, won the 2021 IFF Global Green Finance Innovation Award, after being reviewed from multiple aspects including the innovative quality, the possibility for replication and promotion, the contribution to industrial development, profitability and the support for public welfare.
The judging panel praised the CECEP’s efforts in setting the fund for Beijing-Tianjin-Hebei regional air pollution control with the loans from the Asian Development Bank (ADB). With the loans of US$500 million from the ADB, an international financial institution, the CECEP innovatively established a fund in a bid to facilitate air pollution control in the Beijing-Tianjin-Hebei region. CECEP has set a good model for subsequent similar projects and has achieved considerable environmental benefits.
