Soundbites

Liu Jin, president of Bank of China Ltd

“China’s financial sector should insist on international cooperation to improve the efficacy of the global allocation of green finance resources. Green finance has become a global task. All countries should align their rules, standards and methods regarding green finance with those of others, form an international consensus on green development, cooperate to accelerate the process of financial product innovation, and strengthen communication on talent fostering to build a system for interdisciplinary talent.”

Lyu Jiajin, chairman of Industrial Bank Co Ltd

“It takes time for China to realize its low-carbon transition. Financial institutions must enhance awareness of the overall situation, respect economic laws, avoid one-size-fits-all policies, prevent a clifflike drop in loans issued to high-emitting companies by recovering loans before maturity, promote the transition to green growth in a steady and orderly manner, and guard against risks derived from certain actions taken during the process of carbon emissions reduction.”

Ma Jun, president of the Institute of Finance and Sustainability

“A growing number of green activities which need financial support will emerge from non-infrastructure areas such as consumption, housing and agriculture. We need instruments and methods to identify green features of these activities more accurately to prevent the risk of greenwashing. We should use technologies like big data, the internet of things and artificial intelligence to make it possible to certify authentic green economic activities and cut certification costs.”