The Climate Change Mitigation and Adaptation Forum was held on 29Jun in Qingdao city. The EC-Link Project was invited to share the case of green project development in link with green financing. Qingdao is one the pilot cities under EC-Link assistance for green finance, two municipal green projects have been selected and prepared potentially for the Shandong Green Development Fund financing.
The Comprehensive Energy Efficiency Improvement Project for the Existing Buildings in Qingdao was introduced as the example. The Shandong Green Development fund is initiated by Asian Development Bank, also expected to leverage the blending investment from other International Financing Institutes, Private Capital and Commercial Banks. It provides creative Green Fund mechanism with international standard on the green criteria, which expected to achieve significant positive outcomes on environmental and climate impact, particular on GHG reduction, as well as, innovative modality to increase the bankability of green projects.
The Qingdao case done by EC-Link Project give a best practice example of how the green project can be developed in link to Green Finance resources. This has been attracted huge interest among the forum participants, who are the key people from Municipal Environmental & Ecology Bureau, climate change research institutes and other International Cooperation Agency. They have shown strong willingness to cooperation with EC-Link program on the Green Development aspect. There will be potential opportunities for demonstrating the Qingdao case to other pilot cities, to amplify the EC-Link intervention influence on Green development.