The fifth meeting of the China-UK Green Finance Working Group was successfully held on May 23, 2023, in London, United Kingdom. The discussions centered around the progress of cross-border cooperation between China and the UK in the areas of green investment principles, environmental disclosure, and ESG (Environmental, Social, and Governance) investment. The meeting also focused on outlining the next steps to further expand this collaborative relationship.
Under the chairmanship of Professor Wang Yao, the Director General of the International Institute of Green Finance (IIGF), several discussions were held on the agenda. Participants provided updates on the achievements of the “Belt and Road” Green Investment Principles (GIP), the Climate and Environment Trust Disclosure Pilot for Financial Institutions, and the ESG Leaders Forum (ELF). Professor Wang Yao emphasized the crucial importance of financial institutions fully integrating global disclosure frameworks and adopting industry-leading practices concerning climate and environmental issues.
During the conference, representatives from IIGF also participated in the “Net Zero Emissions Summit” hosted by the City of London. Professor Wang Yao and Mao Qian, Director of IIGF’s International Cooperation department, actively engaged in three roundtable discussions focused on transition finance, carbon pricing, and nature-related financial disclosure. They specifically addressed topics related to biodiversity information disclosure and the development of China’s carbon market.
The China-UK Green Finance Working Group is a bilateral cooperation mechanism established under the China-UK Economic and Financial Dialogue, officially launched in 2018. Dr. Ma Jun, President of the Institute of Finance and Sustainability, and Sir William Russell, former Mayor of Kingrong City, London, served as Co-Chairs. The group consists of financial institutions and academic research institutions from both countries. Its primary focus is conducting academic and policy research on green and sustainable finance, as well as fostering active collaboration in related sectors.
The meeting of the China-UK Green Finance Working Group saw the participation of over 50 representatives from 24 financial institutions, business service providers, and academic institutions from the UK and China.
