Innovation in Payments Systems Would Help PRC Protect the Environment


MANILA, PHILIPPINES - The People's Republic of China (PRC) should continue to promote its various payment mechanisms for ecological services and encourage more private sector funding for environmental protection, says a joint publication launched today by the Asian Development Bank (ADB) and the PRC's National Development and Reform Commission.

"The People's Republic of China has done a huge amount of work in the area of ecological compensation. Formalizing the system to attract private sector interest would further help protect the Chinese environment and offer a way forward for other countries in Asia and elsewhere looking to prevent environmental degradation," said Klaus Gerhaeusser, Director General of ADB's East Asia Regional Department which produced the publication.