Webinar: Financing soil remediation projects: experiences from China and the world
How does soil remediation become a worthwhile investment for holders of private capital, and how can we ensure that the limited investments from the public purse are used optimally?
Soil contamination has become an urgent issue globally. In China alone, nearly 20 per cent of farmland is contaminated, posing a severe health risk, estimates of the cost of cleaning these contaminated soils run to USD 1.3 trillion, more than 10% of China’s annual GDP. According to the 12th Five Year Plan, the Chinese central government only budgeted for less than USD 5 billion and leaves a considerable gap for private funding to invest.
This webinar offered interested audience an opportunity to discuss the relevance, opportunities and risks of exploring innovative models and instruments to financing soil remediation projects.
The expert presenters introduced the new Soil Pollution and Prevention Law adopted in China on August 31, 2018; and will provide an overview of how governments around the world are dealing with the daunting financing challenges in addressing soil contaminations. They will shared case studies and identify potential funding avenues, including blended finance options, especially in those areas most difficult to attract private sector funding. Webinar participants had the opportunity to ask questions, provide insight and share strategic and other considerations.
- Zilin Yuan – Research Assistant, Chinese Academy of Environmental Planning (CAEP)
- Ingvild Skumlien Furuseth – Research Assistant, Norwegian Institute for Water Research (NIVA)
- Oshani Perera – Director, Public Procurement and Infrastructure Finance, International Institute for Sustainable Development (IISD)
- Mathias Lund Larsen – Director of International Cooperation, International Institute for Green Finance (IIGF)
This project is supported by the Norwegian Ministry of Foreign Affairs.
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