We are pleased to announce the launch of our Call for Proposals for projects in China for UK PACT’s Country Programmes. From today, organisations can submit an Expression of Interest for Country Programmes funding in the priority areas identified for China. The submission deadline is 11 August.
China-UK PACT welcomes expressions of interest to develop innovative projects for capacity building in green finance within the five areas for this sector identified as a priority:
- Harmonisation: aligning China’s green finance standards with international standards, especially in the drive to shift away from fossil fuel and carbon investments.
- Transparency: supporting Chinese financial institutions and listed companies for better reporting on climate-related financial risks and increased uptake of ESG (Environmental, Social and Governance) investment criteria.
- Innovation: supporting the development of China’s financial market infrastructure and regulations to increase liquidity and enable investment into new green finance products and services.
- Capacity building- domestic: promoting knowledge-sharing and building core skills among Chinese green finance practitioners, particularly at the sub-national level to support practical implementation of China’s national green finance policies.
- Capacity building -international: promoting knowledge-sharing and building core skills between Chinese and international green finance practitioners, with a focus on ensuring Chinese overseas investments are as green as possible.
Welcoming today’s launch of UK PACT in China, Dame Barbara Woodward, British Ambassador to China said:
“The UK is a global leader in financial services and China is key to global climate change efforts. China recognises the importance of developing green finance as a means to accelerate low carbon transition. China-UK PACT offers a great opportunity for collaboration to show how finance can raise climate ambition, turning the challenge of climate change into an opportunity for a green recovery.”
Successful projects will receive UK PACT grants in the range of approximately £100,000 up to a maximum of £500,000.
Following the launch of China-UK PACT in 2018, eight projects focused on green finance were funded. This second phase of China-UK PACT will build on the successes of its previous work.
Through its grants, UK PACT aims to improve the capacity and capability of key public, private and civil society institutions to reduce emissions and foster inclusive economic growth in partner countries.
With an estimated start date of January 2021, all projects in China will deliver capacity-building in priority areas and help to support the practical implementation of China’s national green finance policies.