In December 2022, with the support of Energy Foundation China, the International Institute of Green Finance at China’s Central University of Finance and Economics released this report exploring how green finance can help decarbonize the coal industry in cities that have been driven by growth from the industry.

Examining the coal industry in Ordos and Holingol in Inner Mongolia, a top coal producer in northern China, the report analyzes the two cities’ actions and challenges in terms of using financial tools to support the transformation of the industry. By integrating international and domestic experiences, the study also proposes actionable recommendations for how to accelerate the industry’s transformation through green finance and transition finance.

The authors of the report hope their findings can help Ordos and Holingol fund the transition to a lower carbon trajectory, as the two cities transform their coal industry. They also hope the two cities’s practice can inspire other coal-dependent cities in China.