▷ International Finance Forum 2021 discusses business with global climate change

11.12.2021 – 02:59

International Finance Forum (IFF)

Guangzhou, China (ots/PRNewswire)

The International Finance Forum (IFF) and the Paulson Institute jointly hosted a Plenary session and invited energy, environmental and financial leaders to share their thoughts on the global climate change business on December 4th, hosted by IFF Board Member Deborah Lehr, Vice Chair and Executive Director of the Paulson Institute.

The keynote speakers include:

  • Ambassador Yasser El-Naggar, CEO, EN Investment and Former Deputy Minister for Planning, Monitoring and Administrative Reform
  • Bindu N. Lohani, Member of the IFF Academic Committee, former Vice President of the Asian Development Bank
  • XU Lin, Chairman, China-US Green Fund
  • Sonja Gibbs, Managing Director and Head of Sustainable Finance at Global Policy Initiatives, Institute of International Finance
  • Lai Xiaoming, Chairman of the Shanghai Environment and Energy Exchange, Head of the National Carbon Market Trading Center
  • Kyung-Ah Park, Managing Director of ESG Investment Management, Temasek

In his speech, Bindu Lohani said that climate change is forcing both the public and private sectors to coordinate their efforts to increase technology investment and drive innovation. The public sector should make infrastructure more adaptable and resilient to the effects of climate change, while developing more bankable projects for the private sector and creating an innovative financing structure that meets the needs of private-public investment.

Sonja Gibbs named three factors that arouse the interest of the private sector in the management of climate risks, in decarbonization and in doing business with climate change: “bottom-up” demands of their customers for climate-friendly products and services; “top-down” regulations, which require companies to disclose their climate-related measures and actions; internal commitment from companies committed to reducing their carbon footprint.

ESG cash flow has accelerated this year despite the impact of the pandemic, and ESG investment will increase as financial communities step up their net-zero efforts. However, Kyung-Ah Park outlined the measures that could facilitate the global transition to net-zero. First, more governments should get involved in introducing a carbon pricing system. The second is the innovation of the financial structure. In conclusion, she stressed that global coordination and partnership are the most important drivers to achieve greater financial performance in the market.

Lai Xiaoming said that China’s carbon market, designed to incentivize climate-sensitive companies to reduce emissions intensity, should be expanded beyond the energy sector to include other industries, including China’s eight energy-intensive industries (non-ferrous metallurgy, building materials, petrochemicals, chemicals, paper, and aviation ), non-compliant businesses, and the financial industry.

Press contact:

Steel Shen,
[email protected]

Original content by: International Finance Forum (IFF), transmitted by news aktuell


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