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Reuters reported China Baowu Steel Group has signed an agreement with partners to set up a carbon neutral fund, targeting a total investment of CNY 50 billion (USD 7.7 billion). Founded along with companies including the China Pacific Insurance and National Green Development Fund, the fund would have an initial investment of CNY 10 billion yuan. Baowu said “The equity fund will focus on clean energy, green technology, environmental protection and pollution controls. It would also explore high-quality projects in areas with clean energy such as wind and solar.”

 

The second phase of the fund is being planned with a Bank of China subsidiary

 

source：SteelGuru Business News