Sharing Insights into Green Silk Road -- the Belt and Road Forum on Green Finance and Low-carbon Development was successfully held in Beijing

On May 25, 2021, Sharing Insights into Green Silk Road -- the Belt and Road Forum on Green Finance and Low-carbon Development was successfully held in Beijing. Under the guidance of the Ministry of Ecology and Environment, the Global Institute (CGI) of China International Capital Corporation Limited (CICC) and the BRI International Green Development Coalition (BRIGC) co-hosted this Forum. Nearly 200 domestic and overseas experts from government departments, financial institutions and scientific research institutions attended the Forum.

Belt and Road Forum on Green Finance and Low-carbon Development

Prominent Domestic and Overseas Guests Sharing Insights into Green Silk Road

Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment and Convener of the BRIGC Advisory Committee, addressed the Forum. Zhao pointed out that there was a growing consensus among the international community to deal with climate change. Therefore, the transition to a green, low-carbon development pattern will be the "only way" to achieve sustainable development and the "optimal solution" to facilitate a green recovery of the world economy from the aftermath of the pandemic. Zhao emphasized that China unswervingly follows a green, low-carbon and high-quality development path that prioritizes ecological conservation, and the country has been working diligently to fulfil its responsibilities in the international community. The joint efforts of China and relevant parties to build a green Silk Road are based on and aligned with the world's objective for sustainable development. He also stressed China's determination to contribute its wisdom and strengths to global development. 

Shen Rujun, Chairman of CICC, stressed in his speech that a high-quality joint constructed green Belt and Road Initiative (BRI) could provide great opportunities for developing countries to achieve the green transition. Shen hoped the Forum could collect valuable insights from the guests and focus on the prospect and pathways of creating synergies between green finance and low-carbon development. Shen believed that the in-depth discussions would produce valuable suggestions and proposals for the high-quality development of BRI under the new situation, underpinning solid, steady and substantial progress in the construction of the green Silk Road. He said that CICC is keen to collaborate with all relevant parties to support the green and low-carbon development of the BRI, as the company has been committed, since inception, to providing services and support for China's economic system reform and capital market development.  

Jin Liqun (President of Asian Infrastructure Investment Bank), Su Wei (Deputy Secretary-General of the National Development and Reform Commission), Andrew Steer (BRIGC Co-Chair, President and CEO of the Bezos Earth Fund), and Guo Jing (Director General of the Department of International Cooperation at the Ministry of Ecology and Environment) were invited to deliver keynote speeches. The speakers provided comprehensive analyses of the green Silk Road's construction from a wide range of perspectives, such as the construction of a green financial system for the BRI, investment and industrial cooperation under the BRI, as well as international coll Jin Liqun (President of Asian Infrastructure Investment Bank), Su Wei (Deputy Secretary-General of the National Development and Reform Commission) aboration on green development.

Other speakers at the Forum include Hazri Hassan (Director of the International Policy Division of the Ministry of Sustainability and the Environment of Singapore), Kate Hampton (CEO of Children's Investment Fund Foundation), and Sun Zhuangzhi (Director-General of the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences). These speakers shared their insights and unique views on a variety of hot topics on the green Silk Road, such as green energy, green infrastructure, and green finance.

The Forum Issued a Series of Research Results 

Wu Huimin, Managing Director of CGI and Head of CGI BRI Research Center, and Zhou Guomei, Deputy Secretary-General of BRIGC and Director-General of the Foreign Environmental Cooperation Center of the Ministry of Ecology and Environment, respectively issued the Annual White Paper on BRI Research (2021) and the Green Belt and Road Initiative and the 2030 Agenda for Sustainable Development at the Forum.

Zhou Guomei stressed that the green Silk Road’s construction is consistent with the prevailing trend of green and low-carbon development emphasized by the international community. Meanwhile, it will help meet the demand for sustainable economic and social development in BRI-participating countries and is highly consistent with and mutually complementary to the concepts, principles, and goals of the 2030 Agenda for Sustainable Development. Since 2018, BRIGC has been working on a series of studies on the Green Belt and Road Initiative and the 2030 Agenda for Sustainable Development, which proposed clear principles, targets, and roadmaps for BRI green development. The studies also focus on key issues such as biodiversity conservation, green investment and green finance so as to provide policy suggestions for promoting the construction of the Green Silk Road.

Zhou noted the growing international consensus on green BRI development, the improving platform for policy dialogues, as well as the increasing capabilities for decision-making and risk prevention in ecological and environmental protection since 2013. In future, green investment and financing should fully play their critical roles in supporting and ensuring the green development of the BRI. Information-based tools should be developed for the screening and assessment of environmental risks in BRI investment projects. It is also important to facilitate the mainstreaming of key environmental considerations throughout entire project life cycles, including response to climate change, environmental protection, and biodiversity conservation.

Low-Carbon Development and Green Finance Thematic Forums

The Forum also featured two thematic sub-forums: "Green Silk Road and Low-Carbon Development", and "Green Silk Road and Green Finance". Domestic and overseas experts exchanged views and had in-depth discussions on relevant topics in both sub-forums.

Thematic Sub-Forum 1: Green Silk Road and Low-Carbon Development

Thematic Sub-Forum 2: Green Silk Road and Green Finance

Source: <https://www.yidaiyilu.gov.cn/xwzx/gnxw/174763.htm>

Translated by Zhang Yuxi