ADB partnered with Standard Chartered Bank and Johnson Controls to support energy efficient projects in China

China is always in the top of the table for any kind of comparisons in terms of numbers. What can you say? 1.3 billion population. So it is not surprising to know that China is the second largest energy consumption country in the world, and also sits on the top of the greenhouse gas emission table.

Everything has a positive side. This not-so-glamourous record perhaps has caught the attention from Asia Development Bank (ADB). ADB recently joined hands with Standard Chartered Bank and Johnson Controls to support private sector-led energy efficiency projects in China. This initiative plans to provide RMB 800 million as a partial credit guarantee program.

Johnson Controls, a private energy management company, will use their expertise to identify both existing buildings with retrofit opportunity, and new building construction projects. Standard Chartered is brought in to share the project credit risk of the program.