What it means when we say Climate finance , China style
Cognito is preparing for Sibos, the world s premier banking conference, to be held in Beijing for the first time. The event will explore China s advancements in technology and sustainable investment, with a focus on green finance. On October 21, EY will host a panel discussing the future of ESG and the profitability of green investments. China s significant strides in green investments, such as the world s largest fleet of electric vehicles and the Made in China 2025 industrial plan, will be highlighted. The Beijing autumn air, once hazy and foggy, now reflects China s efforts to combat air pollution. China s Belt & Road Initiative, a massive infrastructure program, remains central to its approach to international climate infrastructure investment. The government is committed to promoting green energy, transportation, and infrastructure, and assisting developing countries through the South-South Climate Cooperation Fund and the Belt and Road Initiative. Despite China s significant contributions to climate finance, it has often preferred bilateral agreements over international groupings. The country has provided alternative climate funding through its South-South Climate Cooperation Fund and the Belt and Road Initiative, rather than contributing to the loss and damage fund at COP28. China s CNI ESG Ratings Methodology, launched in 2022, includes criteria such as common prosperity and carbon neutrality. Green bonds are another key issue, with Chinese issuers raising $131 billion in 2023. Despite a slight decline in sales, the quality and credibility of these bonds have improved, with 63.6% of deals listed in the Climate Bonds Green Bond Database (GBDB). China s policy-making aims to ensure private capital s participation by setting up stronger regulatory frameworks and updating the Green Bond Endorsed Project Catalogue. Sibos will take place before a critical year for climate finance, with countries revising targets for 2030 and 2040. China may be included in these targets for the first time, as it is
Source: cognitomedia.comPublished on 2024-10-01
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