11/ However, we conclude by pointing out that the PBoC hasn't always been dark green. China remains the world's largest coal consumer, and the PBoC has had to navigate directly the complexity of China’s competing short and long term objectives

10/ Second, technocratic entrepreneurship. At the PBoC, this has taken two main forms:

1. Raising the profile of certain issues over others
2. Shaping the particular ways these topics are addressed

9/ We draw inspiration from Jones and @shaharhameiri.bsky.social to highlight the ways that these political incentives make their way to the PBoC

4/ On the one hand, the PBoC has some clear differences in its institutional framework from other leading central banks like the BoE, DNB, and BdF. We build on Gerald Epstein's work to distinguish a neoliberal vs developmental typology of central banking to highlight these

3/ We highlight three distinctive dimensions of green leadership for the PBoC: (1) timing, (2) a wider environmental focus (ie, not only climate), and (3) liberal use of both prudential and promotional policies (borrowing terminology from Baer, @emacampiglio.bsky.social and @jdeyris.bsky.social)

New (open access!) paper out now with Eric Helleiner and Hongying Wang in New Political Economy:

"A less reluctant (green) Atlas? Explaining the People’s Bank of China’s distinctive environmental shift"

1/ A brief thread 🧵

doi.org/10.1080/1356...