Industry News | The State Administration of Financial Supervision and Administration issued the "Guiding Opinions on Promoting the High-quality Development of Green Insurance"

The Guiding Opinions clarify the basic principles for promoting the high-quality development of green insurance from four aspects: adhering to a systematic concept, seeking progress while maintaining stability, adhering to demonstration guidance, key breakthroughs, adhering to innovation driven and digital empowerment, adhering to collaborative promotion, and open cooperation, and establish the main goals for two stages.

The first stage is by 2027, when the green insurance policy support system is relatively complete, the service system is initially established, the risk reduction service and management mechanism is optimized, the product and service innovation ability is enhanced, and a batch of green insurance service models with typical demonstration significance are formed. The growth rate of green insurance risk protection and insurance fund green investment is higher than the overall industry growth rate, and its role in promoting economic and social green transformation is enhanced.

The second stage is to achieve significant progress in the development of green insurance by 2030, with a basically sound service system, becoming an important financial means to support the comprehensive green transformation of the economy and society. The level of risk protection for green insurance and the scale of green investment in insurance funds have significantly improved, and the satisfaction and recognition of green insurance by all sectors of society have significantly increased. The market influence of green insurance development has significantly increased.

In promoting the green and low-carbon transformation of energy, the Opinion points out that full life cycle insurance protection should be provided for the risk characteristics during the production, construction, and operation of energy industries such as solar energy, wind power, hydropower, and nuclear power. Explore and promote insurance innovation in new energy fields such as energy storage, hydrogen energy, biomass energy, geothermal energy, and ocean energy, covering key risks in research and development, manufacturing, and operation and maintenance. Provide risk solutions for the construction of new power systems through insurance mechanisms. Provide insurance protection for the green upgrading and transformation of traditional energy.

In terms of ensuring green and low-carbon technological innovation, the Opinion points out that we will continue to promote innovation in technology insurance related to green equipment, materials, and software, providing risk protection for various links such as technology research and development, equipment manufacturing, and operation and maintenance. Accelerate the development of technology insurance in areas such as research and development cost loss, intellectual property, low-carbon, zero carbon, and negative carbon technology equipment, focusing on green and low-carbon technology. We provide insurance support for the development of innovative small and medium-sized enterprises, "specialized, refined, unique, and new" small and medium-sized enterprises, and "small giant" enterprises in the field of green technology innovation, including scientific and technological research and development, achievement transformation, industrialization landing, and talent construction. Support the "the Belt and Road" green development, and promote China's green low-carbon technology, equipment and services "going global".

In terms of promoting green and low-carbon development in transportation, the Opinion points out that insurance protection should be provided for research and development, manufacturing, and application in areas such as new energy vehicles, intelligent connected vehicles, and rail transit. Provide adaptive insurance protection solutions around areas such as low altitude economy, multimodal transportation, and green distribution. Provide comprehensive risk protection plans for planning, construction, operation, and maintenance around the construction of green transportation infrastructure.

Original link: https://www.cbirc.gov.cn/cn/view/pages/ItemDetail.html?docId=1159512&itemId=915