The National Financial Regulatory Administration (NFRA) has recently issued the Guiding Opinions on Promoting the High-quality Development of Green Insurance (the "Opinions").
The Opinions mainly introduce 24 measures in five parts, and set forth the requirements in five areas: overall requirements, strengthening the guarantees for green insurance in key areas, strengthening the support for green investment with insurance funds, strengthening the support for green insurance operation and management capability, as well as work guarantees. Notably, to strengthen the guarantees for green insurance in key areas, the Opinions identify nine key tasks from the liability side, including improving public response to climate change, ensuring green and low-carbon technological innovation, promoting green and low-carbon energy transformation, consolidating and raising carbon sink capabilities, supporting universal green and low-carbon actions, and improving enterprises' prevention and control of environmental pollution. To strengthen the support for green investment with insurance funds, the Opinions propose three key tasks from the investment side, including improving the green investment management system, enhancing the support for green development with insurance funds, and strengthening green investment process management.