China’s new green finance guidelines have a deforestation blind spot

On 1 June, the China Banking and Insurance Regulatory Commission (CBIRC) issued a new set of green guidelines. These lay out detailed expectations for banks and insurance companies to identify, monitor, prevent and control their environmental, social and governance (ESG) risks. Policymakers in China have been showing a growing interest in green finance. Traditionally, policies in the area have mainly focused on encouraging financial flows into supporting green, non-polluting and low-carbon businesses.

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