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China Green Finance Awards

Most innovative in green finance 2019

Ernst & Young

With the robust growth of the green finance sector in China, local financial institutions and their regulators need to improve the collection and analysis of data on the environmental benefits of green finance projects.

An innovative online management system for green finance developed by Ernst & Young, the largest green finance verification agency in China, promises to address this.

The system is a complete suite of software developed to automatically and intelligently help Chinese financial institutions verify their green loans. It features an embedded green credit standard model to establish the relationship between the 1,381 sub-sectors under the Chinese government’s industry classification system and the green credit statistics systems of China’s central bank and the China Banking and Insurance Regulatory Commission.

That enables real-time automatic data processing to verify green credit. The system also uses web crawler technology to capture information on projects that violate China’s environmental safety rules.

The online green finance management system can also accurately and efficiently calculate the environmental benefits of green credit for banks and other financial institutions. It collects supporting materials for these projects and uses human judgement to complement the results.

Compared with manual data filing, the system has greatly improved the accuracy and reliability of the green credit data that financial institutions report to their regulators.

It automatically generates and reports green credit data in the formats required by the People’s Bank of China and the CBIRC, allowing regulators to closely track green finance developments in domestic industries.

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