Low-Carbon Industry Development Park planned in Sichuan Province

China’s Sichuan Province aims to boost bamboo forestry industry and demonstrate potential

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Yibin, a city in China's Sichuan Province, the International Network for Bamboo and Rattan (INBAR) and Citi China signed a Memorandum of Understanding (MoU) in October to create a Green and Low-Carbon Industry Development Park and a Bamboo Low-Carbon Enterprise Demonstration Zone.

The initiative aims to extend the sustainable bamboo enterprise development program sponsored by the Citi Foundation and the European Union (EU) that was established in 2009. It is also an important strategic step in establishing Yibin as an eco-friendly city.

The bamboo enterprise development program has won international recognition at a time when low-carbon emission projects have become increasingly important worldwide. Bamboo forestry is widely seen as offering huge potential, both in terms of products and for creating jobs and alleviating poverty.

In the MoU, INBAR and the Yibin government pledge to improve measurement and monitoring of carbon associated with the bamboo forest program as well as researching, piloting and promoting carbon storage methodology for bamboo products.

INBAR and the Yibin government will also collaborate on the research of low-carbon bamboo technology and ways to demonstrate the benefits of the bamboo program in managing global climate change. Using a platform created by the Citi Foundation and the EU, INBAR will build a green and low-carbon industry development park.

In support of the initiative, Yibin plans to further expand its bamboo land base in accordance with its strategy to build a bamboo economic circle in Southern Sichuan. By the end of the 12th Five-Year Plan (2015), the total output of the bamboo forestry will reach RMB12 billion ($1.9 billion).

Andrew Au, Chairman and CEO of Citibank China, said that the Citi and EU-supported program has achieved satisfying results. "Building on the momentum and with greater support from the Citi Foundation, Citi China will continue to collaborate with other partners to promote the development of green small and medium enterprises, including the establishment of the Green and Low-Carbon Industry Development Park and the Bamboo Low-Carbon Enterprise Demonstration Zone in Yibin," he said.