清华大学国家金融研究院 TSINGHUA UNIVERSITY NATIONAL INSTITUTE OF FINANCIAL RESEARCH China has taken a global leadership role in promoting the mainstreaming of green finance, and has moved the needle forward in a short time. During a Paulson Institute roundtable on green finance in October 2017, People's Bank of China Governor. Zhou Xiaochuan remarked Three years ago, if you asked a banker in China whether he knew anything today, e green finance, very likely he would say, I've never heard of it. But about today, if you ask the same question, there is a much better chance for you to get a positive answer and to engage in discussion on specific green finance products The concept has taken hold and a regulatory scheme has taken shape the next step will be building the capacity to implement green finance on a much larger scale The importance of capacity building has been singled out by the international community as a top priority. During Chinas 2016 presidency of the G20, green finance was included as one of the five dialogue tracks going into the g20. the Green Finance Study Group (GFSG) was assembled to provide practical recommendations for countries on promoting green finance. These recommendations featured the need for increased capacity building. In fact the 2016 GFSG Synthesis Report included the need to "expand learning networks for capacity building"as one of seven priorities, and cited"inadequate analytical capabilities as well. The 20 17 GFSG Synthesis Report again identified"capacity limitations within financial institutions"as a major obstacle to the improvement of environmental risk analysis in green finance11 China has taken a global leadership role in promoting the mainstreaming of green finance, and has moved the needle forward in a short time. During a Paulson Institute roundtable on green finance in October 2017, People’s Bank of China Governor, Zhou Xiaochuan, remarked: “Three years ago, if you asked a banker in China whether he knew anything about green finance, very likely he would say, ‘I’ve never heard of it.’ But today, if you ask the same question, there is a much better chance for you to get a positive answer and to engage in discussion on specific green finance products.” The concept has taken hold and a regulatory scheme has taken shape; the next step will be building the capacity to implement green finance on a much larger scale. The importance of capacity building has been singled out by the international community as a top priority. During China’s 2016 presidency of the G20, green finance was included as one of the five dialogue tracks. Going into the G20, the Green Finance Study Group (GFSG) was assembled to provide practical recommendations for countries on promoting green finance. These recommendations featured the need for increased capacity building. In fact, the 2016 GFSG Synthesis Report included the need to “expand learning networks for capacity building” as one of seven priorities, and cited “inadequate analytical capabilities” as well. The 2017 GFSG Synthesis Report again identified “capacity limitations within financial institutions” as a major obstacle to the improvement of environmental risk analysis in green finance