In order to promote the innovative development of climate-related investment and financing in the banking industry, effectively prevent climate risks and strengthen climate information disclosure and climate governance, the International Workshop on Climate-Friendly Bank was held in Beijing on November 14. The event was co-organized by the Climate Investment and Finance Association, Chinese Society for Environmental Sciences, the Natural Resources Defense Council (NRDC) and the CECEP Consulting Co., Ltd.. Li Gao, Director of the Climate Investment and Finance Association and Director of the Department of Climate Change Response of the Ministry of Ecology and Environment, Ye Yanfei, First-Level Inspector of the China Banking and Insurance Regulatory Commission, and Cai Yu, Deputy Secretary-General of the Insurance Society of China, attended and addressed the Workshop. Also present at the event were over 50 representatives from domestic and foreign banks, financial institutions, university think tanks and research institutions, related enterprises and environmental protection institutions.

Qian Jingjing, Senior Director of NRDC China Program, Presided over the Opening Ceremony.

Li Gao said in his speech that the financial system plays an indispensable role in promoting the realization of national goals and making systematic responses. The Climate Investment and Finance Association will further strengthen the cooperation with financial authorities and administrations to facilitate better contributions from the financial system to the realization of China’s mid- and long-term goals and visions in terms of climate change, and help financial and investment institutions find the right direction and development opportunities in the realization of national goals.

Li Gao, Director of the Climate Investment and Finance Association and Director of the Department of Climate Change Response of the Ministry of Ecology and Environment

Ye Yanfei pointed out that the new carbon peak goals and carbon neutrality visions strongly drive the restructuring in industries, economy and banking and insurance assets. The climate-friendly standards and methods of evaluation provide crucial external guidance for banks and will in turn drive internal motivation. He emphasized that while financial institutions are strengthening the disclosure of information on climate change, the competent authorities are expected to give clearer guidance on the content of disclosure and the impact on the market valuation of the discloser. 

Ye Yanfei, First-Level Inspector of the China Banking and Insurance Regulatory Commission

Cai Yu briefly introduced the major efforts of the insurance industry in recent years with regard to supporting environmental improvement, coping with climate change and carrying out economic activities for resource conservation and efficient use. She looked forward to enabling green insurance to play a greater role through more exchanges and cooperation with all parties and sound research.

Cai Yu, Deputy Secretary-General of the Insurance Society of China

Sun Yiting, Standing Member of the Climate Investment and Finance Association, introduced the achievement in the Association’s recent research — “Research on Climate-Friendly Performance Evaluation Indicators of Chinese Banking and Financial Institutions”— from the perspectives of the significance of climate-friendly bank evaluation activities, evaluation indicators, principles of activity design and indicator frameworks. Douglass Sims, Senior Advisor for Green Finance and Director of the NRDC Green Finance Center, shared online the trends and practices in international climate-related investment and financing and how to use public capital to leverage social capital. 

Sun Yiting, Standing Member of the Climate Investment and Finance Association

Douglass Sims, Senior Advisor for Green Finance and Director of the NRDC Green Finance Center

The Climate Investment and Finance Association and NRDC signed a memorandum of understanding at the Workshop on-site to strengthen in-depth exchanges and cooperation in climate-related investment and financing in the future and jointly promote the development of climate-related investment and financing.

MOU Signing Ceremony

Liao Yuan, Deputy Secretary-General of the Climate Investment and Finance Association and General Manager of CECEP Consulting Co., Ltd., and Wu Qi, Senior Attorney with NRDC, chaired the two themed sessions—the Innovation and Practice of Commercial Banks in Climate-Related Investment and Financing and the Assessment, Tools and Application of Banks with Regard to Climate Risks, where representatives from Amalgamated Bank, Postal Savings Bank of China, Huaxia Bank, Huzhou Bank, China Chengxin Green Finance Technology (Beijing) Co., Ltd., State Street Corporation, CIB Research, Institute of Public & Environmental Affairs (IPE), and CECEP Consulting Co., Ltd. shared and discussed their views from the perspective of their practice. Ye Yanfei made a concluding speech for the Workshop. 

Themed Session 1: Innovation and Practice of Commercial Banks in Climate-Related Investment and Financing

Liao Yuan, Deputy Secretary-General of the Climate Investment and Finance Association and General Manager of CECEP Consulting Co., Ltd.

Ivan Frishberg, Director of Impact Policy, Amalgamated Bank and Amalgamated Charitable Foundation 

Peng Zuogang, General Manager of the Credit Extension Management Department, Postal Savings Bank of China 

Zhang Yongmiao, Director of Green Finance Center, Huaxia Bank 

Zhou Jianliang, Vice President of Huzhou Bank 

Gao Weitao, General Manager of Green Finance Department, China Chengxin Green Finance Technology (Beijing) Co., Ltd.

Themed Session 1: Innovation and Practice of Commercial Banks in Climate-Related Investment and Financing 

Wu Qi, Senior Attorney with NRDC 

Patricia Hudson, Global Head of Executive Communications and Thought Leadership of State Street

Qian Lihua, Chief Green Finance Analyst, CIB Research

Ma Jun, Director at the Institute of Public & Environmental Affairs (IPE)

Xiong Chengcheng, Deputy Director of Green Finance Department, CECEP Consulting Co., Ltd.

Promoting the development of climate-friendly banks will help the banking industry and financial institutions improve their capabilities of innovating climate-related investment and financing and of managing climate risks. This Workshop will not only further enhance the understanding and awareness of climate-related investment and financing and climate-friendly banks among financial institutions, local governments, researchers and all sectors of society, but also contribute to a favorable social atmosphere for the promising development of climate-related investment and financing.