The theme of the second roundtable dialogue at the Summer Summit is "Taking Multiple measures to Ensure high-quality transformation". The dialogue was moderated by Yu Jiantuo, Deputy Secretary-General of the China Development Research Foundation. Xiaowei Liu, Head of Special Projects for Asia, World Energy Council, and Jeffery Sukjoon, Vice President, ESG Solutions Group and Asia Pacific Sustainable Finance Practice Manager, Moody's Mr. LEE, Mr. Zhu Ling, Head of Capital Markets Business of CDP China Office, Mr. Zhang Mingzhe, Head of Green Finance Department and the Credit Policy Division of Postal Savings Bank of China, discussed the challenges, causes and solutions of sustainable finance in promoting high-quality transformation.
Promote standardization and information disclosure level, promote enterprises to develop credible transformation plan
Moderator Yu Jiantuo first introduced the theme and background of this roundtable discussion. He pointed out that sustainable development is a multi-layered and multi-link project. From the demand side, it involves the needs of the world, countries, regions, communities and individuals at multiple levels. At the same time, it comes from different sectors such as the government, enterprises and society. On the supply side, it is a complex ecology composed of information disclosure, analysis, rating, development and application of financial products, etc. Therefore, to promote high-quality transformation of sustainable development, it is necessary to grasp the key weaknesses and form a deep understanding.
Jeffery Sukjoon LEE points out that transformational finance is crucial to driving sustainable development in the Asia-Pacific region. If issuers in sectors where reducing emissions is difficult want access to sustainable finance markets for sustainable financing, they need credible transformation plans, strategies and targets. While we have seen progress in corporate disclosure of greenhouse gas emissions, there is still much work to be done in terms of standardization and coverage.Liu Xiaowei believes that energy transformation, as an important part of sustainable development transformation, is "people-oriented" at its core. While protecting the earth, we should ensure safe and equitable energy supply for billions of people.
Zhu Ling pointed out that promoting environmental information disclosure of enterprises is a key link in promoting financial transformation of the real economy. CDP strengthens the information base of transformation finance by driving more extensive and high-quality disclosure in the market. Zhang Mingzhe emphasized the challenges in five aspects: theoretical research, top-level design, product innovation, environmental risk management ability and data acquisition ability improvement, and information disclosure.Improve ESG data measurement and service capacity to help build social consensus
Behind the challenges of sustainable finance to promote high-quality transformation, there are some underlying reasons. Understanding these underlying causes is a prerequisite for designing solutions and taking steps to guide high-quality transformation. In view of the underlying reasons, the guests expressed their own views. Liu believes that a basic understanding of energy can help build social consensus. To this end, the World Energy Council will launch a campaign to popularize energy knowledge and strive to help one billion people learn the basics of energy.
According to Jeffrey Sukjoon LEE, the measurement of carbon emissions in scope 3 is the difficulty in carbon accounting and carbon information disclosure. At the same time, guidance and guidance on climate transition needs to be developed for businesses to increase their incentive to develop credible transformation plans.
Zhu Ling pointed out that the development of ESG investment concept in China has not been long, and quantitative ESG data collection and collation have just started, so the foundation is relatively weak. As a data collection platform, CDP will actively promote the internal capabilities of all parties. Zhang Mingzhe points out that multiple factors affect the deep integration of sustainable finance and low-carbon transition. To promote the deep participation of sustainable finance in low-carbon transition, we need to intensify research efforts, raise awareness, gradually improve policies and enhance the service capacity of financial institutions.All solutions focus on human and environmental protection and promote equitable transformation
Finally, participants made policy recommendations on quality transformation solutions based on the practical experience of various institutions. Liu Xiaowei pointed out that the world needs balanced solutions to achieve multi-dimensional high-quality transformation. From an energy perspective, a clean, economical, resilient and sustainable energy future requires new ways of using and behaving, integrated policy design and institutional innovation. New solutions include climate-neutral heat, electricity, fuel and flexible energy storage technologies, as well as new models for financing infrastructure. We are committed to a people-centered energy vision that puts people and the environment at the center of all solutions.
Jeffrey Sukjoon LEE argues that regulatory incentives are useful for promoting climate-related disclosure, and hopes to help companies better understand market expectations and how they are evolving.
Zhu Ling emphasized that enterprises in traditional industries should be treated fairly, and the contribution of some traditional high-energy industries to low-carbon transformation should be objectively reflected. A long-term net zero emission target based on scientific carbon targets; Developing specific scientific carbon target standards for more industries; Develop more aggressive disclosure standards and requirements. < /p>Zhang Mingzhe suggested that efforts should be made to build a transformation financial ecosystem composed of regulators, industry associations, rating agencies, ngos, financial institutions and other entities to jointly promote the green, low-carbon and just transformation of the real economy.
