NEFCO and the Foreign Economic Cooperation Office of the Ministry of Environmental Protection of China have, today, together with the China Development Bank Corporation, signed a Framework Agreement to establish environmental cooperation.
The initiative is called the Sino-Nordic Environmental Protection Cooperation (“SNEPCO”) Programme.
SNEPCO aims to promote cooperation between the Nordic countries and the People’s Republic of China in the field of financing environmentally sustainable projects in China, with assistance from the Ministry of Environmental Protection of China and Ministries of Environment of the five Nordic countries.
SNEPCO financing shall be extended to projects which promote mitigation of greenhouse gases, phase out of ozone depleting substances, reduce persistent and toxic substances including heavy metals, promote resource optimisation, cleaner production, energy efficiency and Clean Development Mechanism (CDM) investments of global and Chinese environmental interest.
NEFCO has been engaged in China since the mid-1990s and in climate change activities since 2008. The framework agreement signed today will enable NEFCO to substantially expand its financing operations in China.