To drive greener, more sustainable socioeconomic development requires the active participation of financial sectors. The expedited development of #greenfinance is necessary to support #emission reductions and green development. To this end it requires efforts in 7 aspects: 1/7

1. Expedite the development of green products such as green credit, bonds, insurance and funds; encourage green investment; and step up support for the environmental-protection industry and the development of green infrastructure by the financial industry. 2/7

2. Encourage further development of #ESG in China and define ESG disclosure standards. Providing financing to ESG companies also indirectly supports the development of a green economy. 3/7

3. Prevent financial risks related to climate change. Climate change may turn into financial risks through physical and transitional risks, and corresponding prevention and response are critical. Central banks, regulators & financial institutions need to take action.4/7

4. Advance the standards for green finance in China, so that they can be in line with major international standards.

5. Connect green finance and sustainable #investment and development with the building of Shanghai as a financial center and #RMB internationalization. 5/7

6. Promote green BRI through green finance. Further development of the BRI needs to be based on digitization, #5G networks, smart transport, zero emissions and the interconnection of electric power and global energy. It should become a green initiative geared to future needs. 6/7

7. Build an emissions trading market based on prices and to encourage global collaboration in #carbonpricing. 7/7

For more details, see CF40 policy brief at:
http://www.cf40.com/en/news_detail/11488.html