China has the opportunity to play a critical and fundamental role in tackling climate change, through its influence and approach domestically, regionally and globally

China’s leaders recognise that green finance is essential to meet China’s climate ambitions. Through its International Climate Finance portfolio, the UK government is committed to working with China to cut emissions and achieve a more sustainable future. Benefitting from an increasingly receptive environmental political economy, UK PACT therefore looks for opportunities to align green finance and Environmental, Social and Governance (ESG) standards with international standards.

China-UK PACT is aligned with government demand and seeks to mature China’s green financial markets by focusing on five areas:

Harmonisation: aligning Chinese and international green finance taxonomies; Transparency through disclosure of climate-related financial risks and ESG uptake; Innovation - developing innovative green financial products and services; and Capacity Building – domestically - accelerating implementation of national green finance policies at local levels and internationally for Chinese financial institutions using green investment tools and approaches internationally. In the second round of funding, China-UK PACT funded 5 projects (see carousel below). 


Round 2 project portfolio

Following the second call for proposals held in 2020, five projects were selected in these core areas:

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Applying to UK PACT

The second China-UK PACT funding round closed in August 2020.

Projects were assessed as part of an open call to prospective applicants following two stages: 1) Expression of Interest (EOI) to outline how a proposed project responds to the call; and 2) a request for detailed proposals for those shortlisted at the EOI stage.