The creditor of Shandong Province Bank of Qingdao has taken the initiative to allow the use of energy use rights as collateral for financing.
On May 12, the Bank of Qingdao provided Qingdao Nengyuan Redian Group (青岛 能源 热电 集团) financing of 20 million yuan, which was secured by energy use rights.
It is reported that this is the first time that a local bank of a legal entity in Shandong Province has secured a financial transaction through energy rights.
The Bank of Qingdao said the move was “a new breakthrough in environmental finance”.
“The Bank of Qingdao has always supported the concept of green development, actively promotes green financial development and will constantly diversify the supply of green financial products,” said a spokesman for the lender.
https://www.chinabankingnews.com/2022/05/13/bank-of-qingdao-pioneers-collateralisation-of-energy-usage-rights/ Bank of Qingdao Pioneers to ensure energy rights