On July 11, 2021, as one of the sub-forum of Eco Forum Global Guiyang (EFG) 2021, the thematic forum of "Green Finance Helps Achieve the Carbon Neutrality's Goal" , was held in Guiyang International Ecological Conference Center. The forum was sponsored by People's Government of Guizhou Province, Industrial and Commercial Bank of China (ICBC), and organized by Guizhou Provincial Financial Supervision Administration, Guiyang Central Sub-branch of People's Bank of China, Guizhou Provincial Civil Affairs Department, Guiyang Municipal People's Government, Gui'an New District Management Committee, Industrial and Commercial Bank of China Guizhou Branch, Bank of Guizhou, Chongyang Institute for Financial Studies at Renmin University of China (RDCY), and China Pension Finance 50 People Forum. RDCY undertook most of the critical work during the forum. Xinhua Finance, China.org.cn, Huanqiu.com, CNR.com, Zhonghongwang.com, CRNTT.com, Financial News, Today Guizhou, Zhongwang News, and many other media reported RDCY's release of the "Peak Carbon Emission and Carbon Neutrality" Monitoring Platform.
On the morning of July 11st, Zhou Yueqiu, Chief Economist of Industrial and Commercial Bank of China(ICBC) and President of Modern Finance Research Institute of ICBC, monitored the "Green Finance Helps Achieve the Carbon Neutrality's Goal" Summit Meeting. Tan Jiong, Vice Governor of Guizhou Provincial People's Government, and Xu Shouben, Vice President of Industrial and Commercial Bank of China, delivered opening speeches. Nearly 200 well-known experts, officials, and business people in the field of green finance and ecology attended the meeting.
During the keynote speech, Danilo Türk, Former President of Slovenia and President of the World Leadership Alliance - Club de Madrid, and ten other guests were invited to deliver speeches. President Türk addressed the reform practice of achieving climate goals and "carbon neutrality" through financing. Hu Xiaoyi, President of China Society of Social Insurance, Former Vice Minister of Ministry of Human Resources and Social Security, Wang Zhongmin, Former Vice Chairman of National Council for Social Security Fund, and Wang Xin, Director of the Research Bureau of the People's Bank of China, respectively made speeches on the relevant work and efforts of their respective departments on green finance to support "Peak Carbon Emission and Carbon Neutrality."
Tao Yiping, President of Industrial Bank, discussed the significant historical opportunities, reform, and innovation of the financial industry under the "Peak Carbon Emission and Carbon Neutrality" goal. Peter Koenig, a Former Senior Economist of the World Bank, put forward the prospect of developing renewable and carbon-free energy as a natural green investment. He Mei, Chairman of Lonjing Environment Technology Co. Ltd, Fujian, reported how her company develops green and low-carbon technology to help save energy and reduce carbon production for the "Peak Carbon Emission and Carbon Neutrality" goal. Ma Jun, Director of the Green Finance Professional committee of CFA and President of Beijing Institute of Green and Sustainable Development, discussed the international trend of green finance development, relevant global progress, and significant work China participated in. Gao Jinshan, President of Xinjiang Goldwind Technology Co., Ltd., reported the growth of the wind power industry and the practice and suggestions of green finance of wind power. Guan Lianping, chairman and President of Beijing Dongfang Guoxin Technology Co., Ltd., talked about the development prospect of digital technology and the path suggestions for data to help achieve "Peak Carbon Emission and Carbon Neutrality."
Wang Wen, Executive Dean of RDCY and Secretary-General of the Green Finance Committee of China Society for Finance and Banking, monitored the release ceremony of China's "Carbon Neutral" Green Smart City Monitoring Big Data Management Platform and launched the "Carbon Neutral 2060" website for the first time. Within a few months before the ceremony, RDCY, together with Business-intelligence of Oriental Nations Corporation Ltd., a leading intelligent technology enterprise, worked day and night to achieve project approval, platform construction, project evaluation, achievement release, and other segments of the project. The cooperation between RDCY and Business-intelligence of Oriental Nations Corporation Ltd. guaranteed essential technical support on the day of the meeting and the successful release of the publicity video. They also made it possible for the debut and the on-site operation of the "Peak Carbon Emission and Carbon Neutrality" Monitoring Platform, which was praised by a lot of guest officials, experts, and scholars.
The subforum of "Financial Support for Low Carbon Transformation Path" was solemnly held in the afternoon. The meeting was monitored by the vice president of Guiyang Central Sub Branch of the People's Bank of China. Five well-known scholars and business people in the financial sector delivered keynote speeches on how finance can help "Peak Carbon Emission and Carbon Neutrality." Nearly 100 people in the financial sector attended the subforum. Yin Hong, Vice President of Modern Finance Research Institute of ICBC, analyzed the opportunities and challenges faced by financial institutions under the goal. Gao Shixian, Deputy Director of the Energy Sector of National Development and Reform Commission, shared how to carry out clean and low-carbon transformation and development of energy after the goal was incorporated into the overall layout of ecological civilization construction. Lan Hong, Deputy Director of the Center for Eco-financial Studies at the Renmin University of China, pointed out that "carbon neutrality" is a global consensus and an important task. Shao Changyi, Urban and Sustainable Development Consultant of the World Bank, compared the conceptual differences between climate finance and climate transformation finance in supporting sustainable development. Wang Yi, Vice Mayor of Guiyang Municipal Government, delivered a report on the development of green finance in the New District of Guiyang City and put forward relevant suggestions and prospects.
Jia Jinjing, Assistant Dean of RDCY, moderated two round-table discussions during the sub-forum.
The first round table forum was themed as "Practice and Outlook of Implementing Financial Support for Peak Carbon Emission and Carbon Neutrality." Four important guests made speeches and discussions successively. Liu Yong, the Former Chief Economist of China Development Bank and Special Researcher of Counselor's Office of the State Council, shared the historical review of the "Peak Carbon Emission and Carbon Neutrality" strategy from the perspective of the development bank. He proposed that China establish a characteristic strategy based on its national conditions, carry out low-carbon policy transformation and vigorously develop CCUS, energy storage technology, and green household consumption. Mei Dewen, General Manager of China Beijing Environment Exchange, discussed how the carbon market could support "Carbon Peak Emission and Carbon Neutrality" from the market background, status quo, and prospects. Mo Lingshui, Consultant of Green and Low-Carbon Development of the Asian Development Bank (ADB), shared relevant strategies, operations, negotiations, and priorities of the 2030 strategy of ADB in the field of green finance. Lu Bo, Deputy Director of Guizhou Rural Credit Cooperatives Association, put forward that "Carbon Peak Emission and Carbon Neutrality" is the financial institution's historical responsibility and social mission.
The second round table discussion was themed as "Financial Support for Peak Carbon Emission and Carbon Neutrality in Guizhou Province and Suggestions for Guiyang City to Build a Green Financial Center in Western China." Four guests delivered relevant discussions. Shao Changyi, Urban and Sustainable Development Advisor of the World Bank, believed that inclusive finance should be combined with green finance. Chairman Zhang Zhenghai of Guiyang Bank shared that under the overall planning of ecological civilization, Guiyang Bank has vigorously carried out green financial debt and green credit according to the guidance of the People's Bank of China. Yang Chunlei, Vice President of Guizhou Branch of Agricultural Bank of China, said that Agricultural Bank of China actively carried out green finance business to support the target process. Zheng Tingying, Executive Deputy Editor-in-Chief of Green Living and a visiting fellow of RDCY, remarked that "carbon neutrality" will impact decades, and we would have to take into account the principle of "common but differentiated responsibilities."
In the end, Deputy Director Deng Chenghong made a concluding speech for the forum, affirmed the inspiring speeches of all the guests, and made an outlook on the future direction of China's ecological civilization layout.
Eco Forum Global Guiyang (EFG) is the only national forum with the theme of ecological civilization. The forum was a complete success as it introduced the world's first "Peak Carbon Emission and Carbon Neutrality" Monitoring Platform, which leaders and guests highly affirmed. Many participants believed that the achievements, speeches, and discussions during the forum, including the monitoring platform, provided important reference and support for China's realization of the "Peak Carbon Emission and Carbon Neutrality" goal. It is also essential to explore how finance can help China to achieve its vision and demonstrated the significant ambition and determination of the financial sector in actively responding to climate change and pursuing the road of green and low-carbon development.
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Editor's note: Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times, had predicted the rise of Asia in his book “Easternisation.” In his latest interview with CGTN, Rachman says the rise of Asian economic powers, especially China, is irresistible. Western elites should take a more sophisticated view with the new reality. Views expressed in the video are his and do not necessarily represent those of CGTN.