Recently, CICC and Green Finance Committee of the China Society for Finance and Banking (GFC) jointly completed the Chinese translation and introduction of "Common Ground Taxonomy: Climate Change Mitigation" (herein after referred to as the "Common Ground Taxonomy"). The Chinese version was officially released on the GFC official website on February 19. (http://www.greenfinance.org.cn/displaynews.php?cid=78&id=3648)

Experts from Peking University and CECEP Consulting also participated in the work. The release of Chinese version of Common Ground Taxonomy will further promote the research on the comparability, compatibility and consistency of China's green finance standards with international taxonomy and standards on sustainable finance.

In July 2020, proposed by the People's Bank of China, the International Platform for Sustainable Finance (IPSF) organized a team on the sustainable finance taxonomy, with the People's Bank of China and the European Commission serving as co-chairs. The team compiled the Common Ground Taxonomy based on a comprehensive and detailed comparison between China's Green Bond Endorsed Project Catalogue and EU's EU Taxonomy Climate Delegated Acts. Common Ground Taxonomy includes a list of economic activities that are recognized by the China-EU Green and Sustainable Finance Catalogue, which have significantly contributed to climate change mitigation. The current version covers major economic activities in six key fields, including energy, manufacturing, construction, transport, solid waste and forestry. Common Ground Taxonomy integrates the features and advantages of catalogues of China and Europe, and is of great significance to facilitating China-EU green investment and financing cooperation, introducing cross-border climate investment and financing activities and reducing the cost of green verification for cross-border trades.

As a leading green financial service provider, CICC actively participates in the building of industry standards for green finance and makes its due contributions to the healthy development of the market. In the future, CICC will continue to exert its professional research capabilities and financial business strength, firmly serve the national strategy of "Carbon Peak and Carbon Neutrality", and vigorously accelerate the implementation of the Common Ground Taxonomy so as to boost the green economy transformation and high-quality development.