Na­tion takes lead in green fi­nance

China Daily (USA) - - CHINA - ByWANG YANFEI

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China should build a solid foun­da­tion in the do­mes­tic fi­nan­cial mar­ket to sup­port Sub­scrip­tion:green fi­nance, a se­nior of­fi­cial Ad­ver­tis­ing:with the United Na­tions En­vi­ron­ment Pro­gram told Fol­low us on: China Daily.

Green fi­nance — fi­nanc­ing en­vi­ron­men­tally sus­tain­able Web­site: growth — is ground­break­ing, said Si­mon Zadek, who was co-leader of the Green Fi­nance Study Group to the G20 Sum­mit held in Hangzhou, Zhe­jiang prov­ince, in early Septem­ber.

Zadek said that China is tak­ing the lead in pro­mot­ing green fi­nance, and it has be­come a key to reach­ing the cli­mate change tar­gets set in the Paris cli­mate deal.

The un­prece­dented speed at which coun­tries have rat­i­fied the Agree­ment must now be matched by gal­va­niz­ing ac­tion to­ward its im­ple­men­ta­tion. The United Na­tions Frame­work Con­ven­tion on Cli­mate Change com­mences on Mon­day in Mar­rakech, Morocco.

The G20 Green Fi­nance Syn­the­sis Re­port, “pro­vides a broad in­ter­na­tional pol­icy sig­nal of how green fi­nance would play a fu­ture sig­nif­i­cant role in the fi­nan­cial mar­ket, en­cour­age mem­bers to take pol­icy ac­tions, and ex­ert direct in­flu­ences on fi­nan­cial in­sti­tu­tions”, Zadek said.

It pro­vides vol­un­tary op­tions for coun­tries to en­hance in­ter­na­tional co­op­er­a­tion in mo­bi­liz­ing green CANADA fi­nance, al­low­ing each mem­ber to come out with their own pol­icy de­signs, he said.

“Mem­bers not only need to fur­ther ad­vance meth­ods and pol­icy sup­port at the G20 level, but also fig­ure out a port­fo­lio of mea­sures in the do­mes­tic mar­ket, where ef­forts are needed for clear def­i­ni­tions of green fi­nance to re­duce search costs and risks ... such as re­quir­ing listed com­pa­nies to re­port on sus­tain­able devel­op­ment risks, and help in­sti­tu­tions to en­hance ca­pac­ity build­ing,” he said.

Be­fore the sum­mit, China re­leased guide­lines for es­tab­lish­ing a green fi­nance sys­tem, which rep­re­sent the world’s first at­tempt at an in­te­grated pol­icy pack­age to pro­mote an am­bi­tious shift to­ward a green econ­omy,

© 2016 China Daily ac­cord­ing to Zadek.

All Rights Re­served Com­pared to more de­vel­oped

Vol. 36 — No. 11009 fi­nan­cial mar­kets such as Lon­don and New York, China has fewer dif­fi­cul­ties es­tab­lish­ing green fi­nance, and has more op­por­tu­ni­ties to see ma­jor Amem­berof progress, he said. theAsi­aNewsNet­work

Si­mon Zadek

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