A panorama of some of the mountainous area administered by Lishui. [Photo/WeChat account: ls-mnews]

Officials of Lishui – in East China's Zhejiang province – held a meeting on March 30 on how to expand and promote the city's climate investment and how to finance related pilot work.

The aim is to boost its overall efforts to create a national carbon neutral pioneer zone.

Since 2022, Lishui has integrated its climate investment and financing pilot work, with the construction of a demonstration zone for common prosperity in the old revolutionary base area. The city has been actively exploring innovative paths, with Lishui characteristics, that can be replicated and promoted elsewhere.

What's more, Lishui has planned and reserved a number of key climate investment and financing projects with a total investment of more than 30 billion yuan ($4.37 billion).

It has created a digital service platform that monitors the carbon efficiency financing of all its manufacturers. It has also launched a series of financial products such as disaster insurance, weather index insurance and a forestry carbon sink loan, among others.

Four major projects with a total investment of more than 7.5 billion yuan were signed on site. These included China Energy Engineering Group's Qingyuan wind and solar energy storage project and China Resources' Qingtian new energy and new-type energy storage product production project.

In addition, credit lines were extended to three climate investment and financing projects, with a total amount of 10.8 billion yuan.

It is envisaged that the inclusion of Lishui in the national climate investment and financing pilot list will inject financial vitality into the city's green and low-carbon development.

Moreover, it is expected to help Lishui to establish a model area for common prosperity and create a national carbon neutrality demonstration zone.