Source:RDCY Website       Published:2020-09-22

On September 19th, 2020, the Green Finance Committee of China Society for Finance and Banking (GFCCSFB) held its annual meeting - China Green Finance Forum in Beijing, jointly hosted by Green Finance Committee (GFC), Chongyang Institute for Financial Studiesat Renmin University of China (RDCY), International Institute of Green Financeat the Central University of Finance and Economics, Research Center for Green Finance Development at Tsinghua University, Beijing Institute of Green Finance and Sustainable Development, Modern Finance Research Institute of Industrial and Commercial Bank of China, Financial Work Office of Huzhou People's Government, and CFA Institute. About 200 experts attended the event at two sites in Beijing and Huzhou, and more than 300,000 people attended the event online. Chen Yulu, Deputy Governor of the People's Bank of China, Frank Elderson, Chairman of Central Banks and Supervisors Network for Greening the Financial System (NGFS), the Central Bank and Regulator, Liu Jiandong, risk director of Bank of China, and Wang Gang, deputy party secretary and mayor of Huzhou, delivered speeches at the conference. The annual meeting is chaired by Ma Jun, director of the Green Finance Committee.

Chen Yulu, Deputy Governor of the People's Bank of China, said that China has initially established a green financial system, and the green finance reform and innovation pilot zone has gained a series of experiences that can be replicated and promoted, and actively participated in international cooperation in green finance. The Green Finance Committee has fully played its role as a bridge linking policy-making departments, financial institutions and enterprises, and has become the main platform for green finance exchanges among China's industries. At present, green recovery is a priority for post-epidemic economic recovery in all countries. In the future, the focus of work will be the improvement of the system, standards and incentives for green financial development, guide financial institutions to strengthen the identification, analysis and management of climate and environmental risks, and continue to deepen international cooperation.

Frank Elderson, Chairman of Central Banks and Supervisors Network for Greening the Financial System (NGFS), spoke highly of China's achievements in green finance and its important contribution to the NGFS work. He said climate risk was an important source of financial risk and needed to be given high priority by global supervision department and financial institutions. The NGFS proposed a set of climate risk scenarios hypothesis, which are designed to provide a frame of reference for risk analysis for Central Banks and supervision institution.

Risk Director of Bank of China Liu Jiandong said that Bank of China has added a green finance committee to its management to co-ordinate green finance management and professional decision-making throughout the group. In terms of green bonds, Bank of China, relying on its overseas branches, has issued a total of 8.3 billion US dollars worth of green bonds. Recently, it issued successfully the first blue bond of a Chinese and global commercial institution. Next, the Bank of China will give full play its comprehensive advantages to the globalization, strengthen cooperation with professional organizations such as Green Finance Committee, continuely improve the proportion of green financial assets, vigorously develop the green insurance, asset management, rental and leasing, and other comprehensive green financial business, strengthen forward-looking analysis, judgment and response to environmental and climate risks, and promote the development of green financial businesses with high standards and high quality.

Wang Gang, deputy party secretary and mayor of Huzhou, said after years of exploration, green finance has become the new calling card of Huzhou. Huzhou has carried out more than 30 pioneering explorations and innovations in the field of green finance, created a number of classic cases such as "Green Loan Pass". Green finance has become the new engine of Huzhou's green development. In the next step, Huzhou will make new breakthroughs in promoting green manufacturing, environmental governance, green living and other aspects. To promote jointly the sharing of green finance standard systems, infrastructure construction and innovation achievements in the Yangtze River Delta, to build a model for the collaborative development of green buildings and green finance.

Ma Jun, director of the Green Finance Committee, delivered a report entitled the 2020/20 Annual Work Report of the Green Finance Committee and the 2020/21 Annual Work Outlook to the annual meeting. He pointed out that the Green Finance Committee has done a lot of work and played a crucial role in promoting the establishment of China's green financial system, disseminating the concept of green development, developing green financial products and tools, supporting the implementation of policies and carrying out international cooperation. Looking ahead to the next year, the Green Finance Committee will actively participate in the study of “The 14th Five-Year Plan" on green finance, continue to promote the innovation of green financial products in the form of working group, promote the construction of environmental risk management system for outbound investment, and continue to promote GIP and multilateral and bilateral international cooperation.

At the annual meeting, the Green Finance Committee and its member units released 18 results in total, moderated by Wang Wen, the secretary general of Green Finance Committee, executive dean of Chongyang Institute for Financial Studies, Renmin university of China(RDCY). Afternoon, eight parallel sub-forums were held, with the themes of "local green financial digital platform innovation", "the Belt and Road Green Investment and Environmental Information Disclosure", "ESG Market Development and Capacity Building", "Green Product Innovation", "Environmental and Climate Risk Analysis" and "Financial Support Green Consumption, Small Micro Enterprises and Green Agriculture", "the role of the Financial Industry in Promoting the Green Recovery", and "Green Financial Support for Green Building" and all panelists had a heated discussion.

About 70 domestic and international leaders, experts and scholars, from the People's Bank of China, Green Finance Committee, China Securities Regulatory Commission, China Banking Regulatory Commission, Ministry of Ecological Environment, Ministry of Agriculture and Rural Affairs, Ministry of Housing and Urban-Rural Development, The Insurance Institute of China, Beijing Local Financial Supervision and Administration, China Bond Pricing Center, Agricultural Development Bank of China, Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Industrial Bank, Hua Xia Bank, Bank of Huzhou, Galaxy Securities, People's Insurance Company of China, Ping An Group, Industrial Bank Financial Leasing, AVIC Trust, the Belt and Road Green Fund Everbright Group, Renmin University of China, the Central University of Finance and Economics, Tsinghua University and other institutions, have spoken at the annual meeting.

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