OREANDA-NEWS. May 23, 2011. Recently, Agricultural Bank of China Limited (ABC) successfully carried out a financing project on advance payment of Certified Emission Reductions (CERs) worth EUR15 million for Noble Group Limited and Jinan Iron and Steel (Group) Co., Ltd..The project was the first financing service on carbon credit transaction based on the Clean Development Mechanism (CDM) handled by ABC, reported the press-centre of ABC.

Energy saving, emission reduction and low carbon economy are financial backing focuses strongly encouraged by the government. In recent years, ABC has made remarkable achievements through accelerated innovations on financial products and service styles, vigorously support to the development of low carbon economy and active performance of CDM advisor service.

During the financing project on carbon credit transaction, and with rational financing structure design, risk sharing arrangement and joint cooperation between domestic and overseas branches, ABC helped Jinan Iron and Steel (Group) Co., Ltd. to acquire CERs transfer benefits for several terms one at a time and made benefits from international transaction mechanisms available to the energy-saving and emission-reducing projects operated by Chinese enterprises.