MUFG to support clean development in China

by Richard Kilner

Story link: MUFG to support clean development in China

Today Japanese firm Mitsubishi UFJ Financial Group (MUFG) has signed a Memorandum of Understanding (MOU) with the Chinese National Development and Reform Commission (NDRC) to create clean development mechanism (CDM) systems.

The MOU also includes an agreement to train local officials in CDM management.

CDM involves developing and developed nations collaborating together to promote environmental sustainability with energy conservation, and is an integral part of the Japanese-Chinese relationship.

The NDRC is a key pro-environment player in China, and is to receive the support of MUFG and its subsidiary, Bank of Tokyo-Mitsubishi UFJ (BTMU).

MUFG is also supporting activities which will see reductions in Chinese emissions, which have increased enormously with the economic revolution that has recently been experienced there.