Article / 10 Nov, 2017
China Showcases Green Technology Bank for Innovative Development Solutions at COP23

UN Climate Change, Bonn, 10 November – On Saturday, experts at the annual UN Climate Conference outlined how the Green Technology Bank, a key initiative of China focused on the 2030 Agenda for Sustainable Development and the Paris Climate Change Agreement, is boosting technical and financial support for green development.

The Bank forms part of China’s evolving South-South Cooperation to bring support to the sustainable development and climate action ambitions of developing countries as well as within China.

Launched in 2016 by the Ministry of Science and Technology of China and the City of Shanghai, the Green Technology Bank (GTB) is aimed at gathering advanced green technologies, scaling up low-carbon solutions for development challenges and promoting transfer of innovative technologies to developing countries.

A green industry fund of 530 million US dollars has been established under this initiative to support the implementation of green projects in China and other developing countries, and to speed up the transfer and implementation of green technologies in areas such as resource conservation, eco-friendly construction, safety and efficiency.

In addition to setting up a standard system for transfer of low carbon technologies, the GTB is working to strengthen international cooperation on green and clean technologies, particularly in the context of China’s “One Belt One Road” initiative. For instance, possibilities for joint research and development centers for the promotion and adoption of green technologies are being explored with Canada and Israel.

A cooperation agreement has been signed with Cambodia on providing technical support for industrial and water resource development in the country. The initiative is also facilitating technical cooperation seminars with the South Pacific Island countries and Arab countries to highlight the need for and importance of green development.

At the event, the participants including UN Climate Change Communications Director Nick Nuttall, will hear about the journey of the GTB initiative, understanding how it is promoting the integration of green technologies and finance as well as building a transfer network of international technologies.

The event is jointly organized by Shanghai Science and Technology Exchange Center, United Nations Environment , the Science and Technology Commission of Shanghai Municipality, Tongji University, and Sinoipro IP Management and Technology Transfer Co. Ltd.