Shanghai has huge potential and advantage to lead green finance development, said Liu Guiping, vice-governor of the People's Bank of China, the central bank.

The city has a complete market of financial factors, a cluster of financial institutions and perfect financial infrastructure, which provide a good foundation for the innovative development of green finance.

In the future, Shanghai can further leverage its advantages and make greater strides in carbon accounting of financial institutions, mandatory disclosure of climate and environmental information of financial institutions and financing entities, and evaluation and demonstration of green financial products.