On July 15, the 2022 China UK Green Finance Development Forum, jointly hosted by the International Institute of Green Finance (IIGF) of the Central University of Finance and economics and the Chartered securities and Investment Association (cisi), was successfully held online. Leading experts from the industry and academia were invited to attend the forum to discuss how to coordinate the balance between climate, energy and development, promote the green recovery and development of the global economy, and explore how China and the UK can further deepen cooperation in green development.
Professor Wang Yao, Dean of the International Research Institute of green finance at the Central University of Finance and economics, and Simon Culhane, CEO of the Chartered securities and Investment Association (cisi) and cisi chartered fellow, delivered an opening speech for the forum.
Professor Wang Yao expressed his sincere welcome to all the guests in his speech. She stressed that vigorously developing green finance is an inevitable choice for the high-quality development of China and the global economy and society. Green finance will effectively guide more public and private capital to flow into relevant investments to support the realization of carbon neutrality and sustainable goals. The urgency of "green change" requires all countries in the world to adjust their policies and development directions, establish active and effective cooperation mechanisms, and strengthen their determination and efforts to promote global sustainable development. She said that China, as one of the first countries in the world to establish a green finance policy system, and the UK, as a leader in the environmental protection movement and climate movement in developed countries, both sides play a leading role in international climate issues and green finance cooperation. China UK Green Finance Cooperation has a good historical foundation and has more room for further development in the future.
Simon Culhane expressed his thanks to all experts in his opening speech. He pointed out that every financial practitioner needs to have the ability to apply knowledge related to climate change and sustainable development, so as to effectively integrate ESG and sustainable development issues into investment, loan and other decisions, and help improve the policy standards of financial activities. He hoped that China and the UK could work together to promote the development of green and sustainable financial education, training and qualification certification, and create efficient and long-term solutions for the global response to climate risks and biodiversity challenges.
中国保险资产管理业协会党委书记、执行副会长兼秘书长曹德云，华泰证券（上海）资产管理有限公司董事长崔春，The City UK首席经济学家兼研究负责人Anjalika Bardalai，伦敦证券交易所集团研究和投资组合管理负责人Leon Saunders Calvert做主旨演讲。
Caodeyun, Secretary of the Party committee, executive vice president and Secretary General of China Insurance Asset Management Association, cuichun, chairman of Huatai Securities (Shanghai) Asset Management Co., Ltd., anjalika bardalai, chief economist and research director of the city UK, and Leon Saunders Calvert, head of research and portfolio management of the London Stock exchange group made keynote speeches.
Cao Deyun pointed out in the keynote speech "exploration of green finance development and responsible management in China's insurance industry" that as a long-term fund, insurance funds should give full play to the advantages of long-term funds, grasp the investment opportunities brought by the dual carbon goal and green transformation, and actively provide green financial services. He said that as an industry self-discipline organization in the field of insurance fund utilization, the China Insurance Asset Management Association should promote the development of green finance and sustainable investment in China's insurance industry from many aspects in the future: first, actively organize and carry out special research on green investment in the insurance industry, lay the foundation for the formulation of supporting green investment and ESG information disclosure standards, and also point out the direction for the future development of relevant ability improvement courses; Second, cooperate with the release of the "green finance guidelines for banking and insurance industry", organize industry forces under the guidance of regulatory authorities, promote the research of ESG investment guidelines for insurance funds, develop supporting green investment information disclosure and evaluation standards that adapt to China's national conditions and industries, improve the quality of disclosed data, and reduce the cost of data acquisition and analysis; Third, continue to develop and launch the due diligence management standards for China's insurance asset management industry; Fourth, continue to promote ESG capacity-building and talent training in the industry.
Cui Chun gave professional opinions on "promoting the development of ESG investment and leading the green transformation of asset management" in his keynote speech. She said that green development has gradually become a global consensus. The green transformation of China's asset management industry is gradually on track and driving into the fast lane. Green finance has become a new label of China's asset management ecosystem. She suggested that as an important part of the financial system, asset management institutions should play a deep role in resource allocation, long-term investment, risk management and other aspects, and guide funds to flow to green industries; Second, continue to practice the ESG concept, build a bridge between ESG investment, customers and public welfare and environmental protection projects at the product and investment ends, and make two-way enabling and responsible investment; Third, financial institutions need to pool industry forces to enable green development through two-way development of investment and financing, innovation of green financial products and strengthening scientific and technological integration.
Anjalika bardalai introduced the research results of his institution in his speech entitled "Green Finance - quantitative assessment of market trends". She pointed out that the green financial market of a country is closely related to its overall financial market and the size of the national economy. She said that in the future, financial institutions should provide assistance to the government in defining "green" standards for investment projects and quantifying green finance, and work together to promote the positive impact of the real economy on sustainable development.
Leon Saunders Calvert的演讲中以“缓解和适应气候变化——脱碳势在必行”为主题，强调了金融与道德投资之间的关联性。他表示，气候风险无法简单直接的在风险安全评估和融资交易中体现，在推动脱碳及可持续发展实现的过程中，一是监管部门、企业与投资者应提升价值标准与脱碳理念，将碳成本内化到企业价值和决策中；二是需在科技创新方面加大投入，助力不同产业在不同时期实现脱碳；三是重视评估投资相关数据分析与方法论，并将ESG因素纳入投资标准。
Leon Saunders Calvert's speech focused on "mitigation and adaptation to climate change - decarbonization is imperative", emphasizing the relevance between finance and moral investment. He said that climate risk cannot be simply and directly reflected in risk safety assessment and financing transactions. In the process of promoting the realization of decarbonization and sustainable development, first, regulators, enterprises and investors should improve the value standard and decarbonization concept, and internalize the carbon cost into the enterprise value and decision-making; Second, we need to increase investment in scientific and technological innovation to help different industries achieve decarbonization in different periods; Third, we should attach importance to the data analysis and methodology related to the evaluation of investment, and include ESG factors into the investment standards.
论坛的圆桌讨论环节中，国际金融论坛（IFF）首席经济学家、上海复旦大学泛海国际金融学院客座教授庄巨忠； CISI特许会士FCSI，伦敦金融城长老议员、《全球绿色金融指数》作者Alderman Michael Mainelli；西班牙IE商学院可持续前瞻研究教授、阿斯塔纳国际金融中心公司治理与管理主席、哈萨克斯坦国家银行国家投资公司董事Alexander Van de Putte；国网能源研究院有限公司财审所副所长王琳璘针对“平衡气候、能源与发展”议题展开深入探讨。CISI 高级顾问George Littlejohn主持圆桌讨论。
In the round table discussion session of the forum, Zhuang Juzhong, chief economist of the International Financial Forum (IFF) and visiting professor of Oceanwide School of international finance, Fudan University, Shanghai; Cisi chartered Councilor fcsi, Alderman Michael mainelli, senior Councilor of the city of London and author of the global green finance index; Alexander Van de putty, Professor of sustainable forward-looking research at ie business school in Spain, chairman of corporate governance and management of Astana international financial center, and director of the national investment company of the National Bank of Kazakhstan; Wang Linyu, deputy director of the financial audit institute of State Grid Energy Research Institute Co., Ltd., launched an in-depth discussion on the issue of "balancing climate, energy and development". George Littlejohn, senior consultant of cisi, presided over the round table discussion.
圆桌讨论中，各位专家从自身专业领域出发，针对绿色发展面临的诸多挑战提出了自己的看法。庄巨忠指出，绿色金融对市场基础设施提出了更高要求，将对全球发展中国家的金融体系建设带来挑战，建议发达国家和发展中国家市场参与者之间促进知识共享、能力建设与健全投资原则等方面的合作，发达国家也应积极履行承诺为气候行动提供资金以支持发展中国家资本市场发展；Alderman Michael Mainelli表示，当前绿色金融发展的最大问题是其严重依赖政策监管框架与气候变化的公众意识宣传，ESG等方法学应用的有效性仍有提升空间，将绿色和财政激励措施有效结合、持续完善碳市场交易、推动可持续发展挂钩债券等碳金融产品的优化创新将对促进全球绿色与可持续投资提供关键助力；Alexander Van de Putte建议，可通过促进数字生态系统、信息技术与媒体产业之间的融合，构建可持续、普惠性的全球可再生能源互联网，提高全球价值链的复原能力，发挥技术融合与国际合作优势推动全球可持续目标的实现；王琳璘表示，能源转型是“双碳”目标实现的关键，电力作为连接一次能源与终端能源的桥梁，将是现代能源系统逐步向多元化、低碳化、清洁化、智能化转型的核心要素，未来应将电网投资纳入绿色金融和转型金融支持目录范围，同时大力开展能源行业绿色产业链金融创新，以电和电网为载体推动整个能源产业链甚至更大范围的产业绿色转型。
During the round table discussion, experts put forward their own views on the challenges faced by green development from their own professional fields. Zhuang Juzhong pointed out that green finance puts forward higher requirements for market infrastructure, which will bring challenges to the construction of the financial system of developing countries around the world. It is suggested that developed countries and market participants in developing countries promote cooperation in knowledge sharing, capacity-building and sound investment principles. Developed countries should also actively fulfill their commitments to provide funds for climate action to support the development of capital markets in developing countries; Alderman Michael mainelli said that the biggest problem with the current development of green finance is that it heavily relies on the policy regulatory framework and public awareness publicity of climate change. There is still room to improve the effectiveness of methodological applications such as ESG, effectively combining green and financial incentives, and continuously improving carbon market transactions Promoting the optimization and innovation of carbon financial products such as sustainable development linked bonds will provide key assistance to promote global green and sustainable investment; Alexander Van de putty suggested that a sustainable and inclusive global renewable energy Internet could be built by promoting the integration of digital ecosystem, information technology and media industry, improving the resilience of the global value chain, giving full play to the advantages of technology integration and international cooperation, and promoting the realization of the global sustainable goals; Wang Linyu said that energy transformation is the key to the realization of the "double carbon" goal. As a bridge connecting primary energy and terminal energy, electricity will be the core element of the gradual transformation of modern energy systems to diversification, low-carbon, clean and intelligent. In the future, power grid investment should be included in the catalogue of green finance and transformation financial support, and at the same time, financial innovation in the green industrial chain of the energy industry should be vigorously carried out, Take electricity and power grid as the carrier to promote the green transformation of the entire energy industry chain and even a wider range of industries.
This forum aims to further deepen the international cooperation and exchanges between China and the UK on green finance and jointly promote the green and low-carbon transformation. Representatives from relevant government departments, financial institutions, academic institutions at home and abroad participated in this activity online.