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18.08.24 16:45

Society

New environmental accounting mechanism in China promotes green financing

The innovation is designed to strengthen environmental protection in line with decisions made at the Third Plenary Session of the 20th Central Committee of the Communist Party

Jiangkou County in southwest China's Guizhou Province has introduced an environmental account system aimed at linking the green production practices of local enterprises with financial resources.

An environmental account is a virtual account that awards points based on an assessment of environmental activities.

This system collects data on the ecosystem and the actions of local businesses. This is reported by CCTV+, a partner of TV BRICS.

The new eco-account mechanism has already opened nearly 10,000 accounts, provided over 500 million yuan (US$70 million) in loans and reduced interest payments by 3.71 million yuan (US$517,545) annually.

Photo: iStock

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Aleksander Alimov

Deputy Minister of Foreign Affairs of Russia

"We are convinced that the only way to make the information space more stable, secure and predictable is through international cooperation. No country is capable of countering cross-border ICT threats on its own. There is a need to develop common rules of the game applicable to all, which would regulate the actions of states and their companies in the digital sphere. [...] The first step in this direction has already been taken with the adoption by the UN General Assembly in December 2024 and the signing in October 2025 of the UN Convention against Cybercrime, developed at Russia’s initiative. This is the first universal treaty in the field of international information security. Seventy-five countries have signed the document. We call on all countries to sign and ratify this Convention"

Batyr Berdyklychev

World Health Organisation Representative in Russia

"International cooperation can help detect risks quicker, also exchange the results of research and coordinate the response measures. Without this coordination, the consequences of the global crisis could be heavier. [...] We are witnessing the world becoming more and more interconnected and interdependent. Every outbreak of infection in one region can be a potential threat globally. The experience shows us that the resilience of healthcare systems affects economic stability, the national security of states and public trust"

Xi Jinping

President of the People’s Republic of China

"As permanent members of the UN Security Council and important major countries in the world, China and Russia should take a strategic and long-term perspective, drive the development and revitalisation of our respective countries through comprehensive strategic coordination of even higher quality, and work to make the global governance system more just and reasonable"

Mikhail Mishustin

Chairman of the Government of the Russian Federation

"In Russia, it is expanding at nearly twice the pace of the rest of the information technology sector. Over half of all enterprises are actively engaged in the implementation of such technologies. We witnessed this at practically every stand"

Dilma Rousseff

President of the New Development Bank

"The Bank will be strengthening its role as a platform for cooperation among its members, supporting initiatives in digital infrastructure, energy transition, advanced low-carbon energy technologies, intelligent hospitals, and all sorts of innovation, amplifying the comparative advantages of our member countries. […] NDB will continue to pursue gradual, balanced membership expansion and strengthen its role as a unified voice and platform for the Global South, amplifying members' priorities and mobilising collective solutions to share developing challenges"

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New environmental accounting mechanism in China promotes green financing

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