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Shandong Green Development Fund Tai’an Fund Launched

Source：Haibao News 11-17-2023 17:10:00

The Shandong Green Development Fund Tai'an Fund, initiated by the Shandong Green Development Investment Group and Taishan New Energy Development Company, a subsidiary of Taishan Industrial Development Investment Group, has recently been officially registered and established with a total capital of 500 million yuan. The fund will be jointly managed by the Shandong Green Development Investment Group and CICC Capital Operation Co., Ltd., and its main focus will be on supporting environmentally friendly projects in Tai'an, including clean energy, clean heat supply, efficient energy storage, and green transportation.

The Shandong Green Development Fund is a fund worth ten billion yuan that was initiated and established by the Shandong Development & Investment Holding Group, with the assistance of international organizations such as the Asian Development Bank and the United Nations Green Climate Fund. It is the world's first market-oriented green fund that has been established with funds from international financial organizations, and it is also China's first climate fund to meet international leading green standards. The fund effectively combines financial support from various parties and takes the lead in promoting large-scale, high-level, and influential green and low-carbon projects. It also contributes to the green transformation of the local industrial structure and plays a vital role in implementing national strategies such as ecological protection and high-quality development in the Yellow River Basin, as well as the construction of Shandong's pilot area for green, low-carbon, and high-quality development.