Chinese banks funding BRI projects should take environmental risks seriously, blogger says

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Author: 迪维亚•纳拉因,中外对话

“银行需认真对待“一带一路”的环境风险”, 2020年1月30日

 “一带一路”倡议注定会成为一股变革力量,它的交通基础设施项目遍布沿线各国,也覆盖到了地球上一些生态最为脆弱的地方。

“一带一路”项目难免会造成各种环境影响… 伴随着它而来的可能还有空气和水污染、水文和地形改变、土壤污染和侵蚀、野生动物和栖息地丧失等影响。

对项目开发商和出资方而言,不解决好这些环境问题可能就意味着监管和声誉风险,因此他们必须认真采取缓解措施。

开发商面临的风险可能包括行政处罚、法律诉讼以及社区抵制,导致项目延工甚至关闭。2018年的一项研究显示,66个国家的“一带一路”项目中有14%都在一定程度上面临着当地的阻力。

缅甸密松大坝就让中国开发商和投资商陷入最糟糕的境地。项目建设到一半就因争议被迫停工,导致资金被无限期冻结… 面对当地和国际社会的持续反对,密松大坝项目被搁置,中国电力投资集团公司和投资方中国进出口银行因此陷入两难。

印度尼西亚巴丹托鲁热带雨林的一座由中国银行提供融资的大坝也遭到当地和国际社会的强烈反对并面临诉讼,原因是其威胁到了极度濒危物种达巴奴里猩猩的唯一栖息地。柬埔寨拟建的松博大坝也因为会给湄公河带来环境灾难而面临类似的问题。

环境风险可能会溢出,进而影响项目融资者。若未能预先审查项目或项目实施过程中没有进行风险管理,融资者可能面临贷款违约,或被迫撤资…

据报道,六家中国国有银行(国家开发银行、中国进出口银行、中国银行、工商银行、农业银行、建设银行)为“一带一路”项目提供了90%以上的融资,因此相关环境影响给他们带来了极高的金融风险…

 “一带一路”的融资方显然需要建立包含环境保障措施的强有力的风险管理框架——世界银行等多边开发银行已经制定了相关框架来应对类似的风险…

中国监管机构和政策制定者如今愈发重视环境风险管理。例如,中国银监会2012年发布的《绿色信贷指引》第21条呼吁中国各大银行确保客户在开展海外业务时遵循国际良好实践…

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Author: 迪维亚•纳拉因,中外对话

“银行需认真对待“一带一路”的环境风险”, 2020年1月30日

 “一带一路”倡议注定会成为一股变革力量,它的交通基础设施项目遍布沿线各国,也覆盖到了地球上一些生态最为脆弱的地方。

“一带一路”项目难免会造成各种环境影响… 伴随着它而来的可能还有空气和水污染、水文和地形改变、土壤污染和侵蚀、野生动物和栖息地丧失等影响。

对项目开发商和出资方而言,不解决好这些环境问题可能就意味着监管和声誉风险,因此他们必须认真采取缓解措施。

开发商面临的风险可能包括行政处罚、法律诉讼以及社区抵制,导致项目延工甚至关闭。2018年的一项研究显示,66个国家的“一带一路”项目中有14%都在一定程度上面临着当地的阻力。

缅甸密松大坝就让中国开发商和投资商陷入最糟糕的境地。项目建设到一半就因争议被迫停工,导致资金被无限期冻结… 面对当地和国际社会的持续反对,密松大坝项目被搁置,中国电力投资集团公司和投资方中国进出口银行因此陷入两难。

印度尼西亚巴丹托鲁热带雨林的一座由中国银行提供融资的大坝也遭到当地和国际社会的强烈反对并面临诉讼,原因是其威胁到了极度濒危物种达巴奴里猩猩的唯一栖息地。柬埔寨拟建的松博大坝也因为会给湄公河带来环境灾难而面临类似的问题。

环境风险可能会溢出,进而影响项目融资者。若未能预先审查项目或项目实施过程中没有进行风险管理,融资者可能面临贷款违约,或被迫撤资…

据报道,六家中国国有银行(国家开发银行、中国进出口银行、中国银行、工商银行、农业银行、建设银行)为“一带一路”项目提供了90%以上的融资,因此相关环境影响给他们带来了极高的金融风险…

 “一带一路”的融资方显然需要建立包含环境保障措施的强有力的风险管理框架——世界银行等多边开发银行已经制定了相关框架来应对类似的风险…

中国监管机构和政策制定者如今愈发重视环境风险管理。例如,中国银监会2012年发布的《绿色信贷指引》第21条呼吁中国各大银行确保客户在开展海外业务时遵循国际良好实践…

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Article
31 January 2020

Chinese banks funding BRI projects should take environmental risks seriously, blogger says

Author: Divya Narain, China Dialogue

“Banks need to take Belt and Road environmental risks seriously”, 30 January 2020

China’s Belt and Road Initiative (BRI) is intended to catalyse the economies of countries around the globe.

Yet BRI projects overlap some of the most ecologically fragile places on earth. The multi-trillion-dollar initiative… has its environmental impacts. These include air and water pollution, soil contamination and erosion, habitat and wildlife loss.

For project developers and funders, failure to address these impacts can translate into regulatory and reputational risks. So they need to take mitigation seriously.

Risks confronting developers can include penalties, legal action and backlash from communities causing project delays and even closures. According to a 2018 study, 14% of BRI projects in 66 countries have faced some kind of local pushback.

At the Myitsone dam in Myanmar, Chinese developers and investors faced the worst-case scenario, locking in funds indefinitely after the dam was suspended mid-construction on environmental grounds… The dam was shelved after sustained local and international opposition, leaving China Power Investment Corporation (CPI) and the investor China EXIM bank in limbo.

A dam in Indonesia’s Batang Toru rainforest funded by the Bank of China (BOC) was also met with significant local and international opposition and litigation as it threatened the only habitat of the rare and critically endangered Tapanuli orangutan. Cambodia’s proposed Sambor dam, dubbed an imminent environmental disaster for the Mekong river, faces similar problems.

Environmental risks can spill over to affect project financers. They may face loan defaults or find themselves forced to withdraw funding where they have failed to vet projects pre-emptively or to ensure risk management during implementation…

Six Chinese state-owned banks (CDB, CHEXIM, BOC, ICBC, ABC, CCB) have reportedly provided more than 90% of BRI’s financing, which puts them at disproportionate financial risk from BRI’s environmental impacts…

There is a clear case for the BRI’s financers to put in place robust risk-management frameworks incorporating environmental safeguards – something that multilateral development banks (MDBs) such as the World Bank have developed in response to similar risks…

China’s regulators and policymakers are now paying greater attention to the environmental aspects of risk management. For instance, in Article 21 of its 2012 Green Credit Guidelines the Chinese Banking Regulatory Commission (CBRC) has called on China’s banks to ensure their clients align with international good practice when operating overseas…

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