Green finance action plan aiding economic growth and transformation

  • Date: 2018-07-05
  • Source: Department of Information Services, Executive Yuan

Premier Lai Ching-te on Thursday received a briefing on the Financial Supervisory Commission’s (FSC) Green Finance Action Plan, after which he touted the growth seen in the loans extended to green energy tech companies and the scale of the green bond market since the plan’s launch. He asked the Ministry of Finance, Ministry of Economic Affairs and Environmental Protection Administration to continue supporting the FSC as it carries out the plan to create an all-around win for the financial sector, real industries and the broader society.

The financial sector plays a key role in promoting the green finance industry and has been instrumental in the restructuring and transformation of Taiwan’s economy, the premier said. As the FSC coordinates with other agencies to extend credit, invest in projects, raise capital, train people, and develop green finance products and services, it will stimulate the real economy, encourage green consumption, and raise the competitiveness of Taiwan’s financial sector.

The FSC said efforts to deregulate financial laws have largely been completed at this time. Looking ahead, the commission will focus on several tasks that include working with insurers to develop insurance products for offshore wind power generation, cooperating with credit rating companies to explore green bonds assessment services, and encouraging financial institutions to instill environmental sustainability concepts into corporate culture. The action plan will also establish green finance standards and guidelines to strengthen Taiwan’s competitive edge in the global market.