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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