GD Power Wins IFF Global Green Finance Innovation Award

On November 14, the International Finance Forum (IFF) announced winners of the Global Green Finance Innovation Award, and GD Power Development Co., Ltd. under China Energy became the only Chinese company to win the award for its “Double Green” innovation project featuring green asset securitization.

Featuring innovative design of green financial products and green asset securitization, the “Double Green” innovation project is intended to put idle corporate assets to better use, meet the capital needs of enterprises, and bolster the development of the renewable energy industry. So far, nearly 2 billion yuan of subsidies receivable have been tabulated, saving at least 28 million yuan in financial costs. Meanwhile, in light of the annual power generation of equity investment projects, and based on methodology for UNFCCC ACM0002_CM-001-V01 grid-connected renewable energy generation and calculation of regional grid emission factors, equity investment projects involved in the “Double Green” project can reduce greenhouse gas emissions by more than 8.45 million tons per year.

Headquartered in Beijing, IFF is a non-profit, non-governmental and independent international organization committed to high-level permanent dialogue, exchange and study in the field of global finance. It maintains close contact with more than 50 international and regional organizations in more than 50 countries and regions around the world, as well as more than 200 global financial and business leaders, with extensive international influence. IFF first initiated the Global Green Finance Innovation Award in 2020 to praise the innovative solutions to global green finance, deepen international exchange and cooperation in green finance, promote successful experience and best practices in green finance development, and contribute to achieving sustainable development worldwide.