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    Catalyzing Climate Finance with the Shandong Green Development Fund

    Jenny, Hubert; Wang, Yihong; Dahiya, Bharat; Asseline, Frédéric; Mehta, Anouj | July 2020
    Abstract
    In 2019, the Asian Development Bank (ADB) approved a $100 million loan contributing to climate finance for the $1.5 billion Shandong Green Development Fund Project. The fund introduces an innovative leveraging mechanism to catalyze private, institutional, and commercial capital for the development of climate-friendly infrastructure and business in Shandong Province, the People’s Republic of China (PRC). The project focuses on the twin strategic agendas of environmentally sustainable growth and inclusive economic growth. The fund will finance a portfolio of mitigation and adaptation projects assessed against both financial and climate eligibility criteria using the Green Climate Fund investment framework. The project will contribute to the transition to low-carbon and climate-resilient development paths in Shandong Province. The fund will act as the financial arm of the Shandong Provincial Government to implement its progressive climate policies and to decarbonize its economy. The fund holds seed capital of $400 million from international financial institutions, $360 million from public sources, and $740 million from private investors to cofinance about $7.5 billion of climate-positive investment, achieving a leveraging ratio of over 1:5. By 2027, the fund aims to contribute to (i) climate change mitigation, measured through carbon emission reductions of 3.75 million tons annually, and (ii) climate change adaptation, measured through improvement in climate resilience of over 3 million beneficiaries. It is the first climate fund in the PRC to be categorized as effective gender mainstreaming.
    Citation
    Jenny, Hubert; Wang, Yihong; Dahiya, Bharat; Asseline, Frédéric; Mehta, Anouj. 2020. Catalyzing Climate Finance with the Shandong Green Development Fund. © Asian Development Bank. http://hdl.handle.net/11540/12227. License: CC BY 3.0 IGO.
    PDF ISBN
    978-92-9262-271-8
    Print ISBN
    978-92-9262-270-1
    ISSN
    2071-7202 (print)
    2218-2675 (electronic)
    Keywords
    Climate
    Climate change
    Climate impacts assessment
    Global climate change
    Asian Development Bank
    Development
    Regional Economic Integration
    Financial Sector Policies
    Financial Risk Management
    Bond Financing
    Green bonds
    Green financing
    Climatic change
    Climatic influence
    Climatology
    Investment bank
    Investment policy
    Capital Market
    Regional Plans
    Regional Development Bank
    Development finance
    Municipal Bonds
    Local Government
    Local Taxes
    International Monetary Relations
    International Financial Market
    International Banking
    Central Banks
    Business Financing
    Capital Resources
    Budgetary Policy
    Capital Needs
    Corporate Divestiture
    Capital Instruments
    Pension Funds
    Insurance Companies
    Banks
    Portfolio Management
    Fiscal Administration
    Economics of Education
    Development Banks
    Insurers
    Insurance stocks
    Insurance holding companies
    Insurance carriers
    Insurance agencies
    Business subsidies
    Investment companies
    Foreign investment
    Equity Finance
    International banks and banking
    Stock exchanges
    Grants
    Loans
    Communication in rural development
    Communication in community development
    City planning
    Urban climatology
    Bank investment
    Capital investment
    Investment banking
    Venture capital
    Local government bonds
    Bonds
    Catastrophe bonds
    Bond funds
    Bond market
    Multilateral development banks
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/12227
    Metadata
    Show full item record
    Thumbnail
    climate-finance-shandong-green-development-fund.pdf (1.014Mb)
    Author
    Jenny, Hubert
    Wang, Yihong
    Dahiya, Bharat
    Asseline, Frédéric
    Mehta, Anouj
    Theme
    Climate
    Finance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise