On 29 October 2022, the International Institute of Green Finance (IIGF) of the Central University of Finance and Economics (CUFE) and the WWF Beijing Office held a roundtable forum on the Innovation and Development of Blue Finance in China. The forum launched a series of reports about fisheries finance promoting industry development, 1) Financing Sustainable Seafood: A Baseline Study on Sustainable Seafood Finance in China and 2) Financing Sustainable Seafood: A study of Environment-related Financial Risks in China’s Seafood Sector.
“Blue Finance” focuses on the sustainable development of marine-related industries and has become an important emerging field under the green finance agenda. At present, the ecological health of the ocean is seriously threatened. In order to protect the ocean, it is an important to use the power of finance. In the marine industry , fishery has important strategic significance to China’s food safety and economic trade. At the same time, the negative impact of fishery production activities on the natural environment may pose a potential threat to the marine environment and industrial growth. In this context, sustainable development of the seafood industry is crucial issue for the the national economy and people’s livelihood. Based on this , IIGF cooperated with WWF Beijing Office to carry out projects, focusing on the sustainable development of China’s fishery finance for research.
Financing Sustainable Seafood: A Baseline Study on Sustainable Seafood Finance in China conducts a baseline study on fisheries finance in China. It identified the key stakeholders (financial institutions, core fisheries businesses, regulators, NGOs, etc.) and mapped out a route for sustainable development of fisheries finance. Financing Sustainable Seafood: A study of Environment-related Financial Risks in China’s Seafood Sector studies the financial risk transmission mechanisms associated with the fisheries environment, aiming to raise the awareness of Chinese financial institutions and regulators of the related risks and provide suggestions for the risk management.
“The sustainable development of fisheries has been the focus of WWF for a long time, and financial instruments to support the sustainable development of fisheries are an important part of WWF’s sustainable blue economy finance. We are very honored to publish this report together. , able to engage in marine conservation and sustainable fisheries in innovative and practical ways.”
Mr. Fei Zhou, Chief Programme Officer of WWF
Experts from financial institutions, academia, NGOs, and other stakeholders were invited to the roundtable forum on the Innovation and Development of Blue Finance in China to discuss the current situation, challenges, and policy priorities of China’s blue finance development. Mao Qian, Director of the International Cooperation of the IIGF, introduced the content of the reports. Shi Jianping, Chairman of the IIGF, and Zhou Fei, Chief Programme Officer of WWF, jointly launched the reports.
“The ocean is an important part of the earth, and the sustainable development of the ocean is of great significance to the sustainable development of human beings. As an industry that utilizes marine resources, its sustainable development will definitely have a positive impact on the fishery industry. It will have an important impact on the sustainable development of the ocean and human beings. The development of any industry is inseparable from financial support. To promote the sustainability of the ocean, finance will play an important role. At present, domestic research on fishery finance and blue finance is still in its infancy. The International Institute of Green Finance of China University of Finance and Economics is pleased to work with the WWF Beijing Representative Office to develop research in this frontier field. We hope that this report will promote the development of fishery finance and blue finance, and contribute to sustainable fishery development and marine protection.”
Professor Shi Jianping, Chairman of the International Institute of Green Finance
Peng Zuogang, General Manager, Credit Management Department of China Postal Savings Bank; Yang Rong, General Manager of Strategic Planning Department, China Life Property & Casualty Insurance, HU Xuedong, Deputy Director of China Institute of Ocean Engineering, Zhang Bowen, Deputy Secretary General of SEE Foundation and Xu Nan, Ocean Consultant, WWF China participated in the roundtable discussion. Zhang Yimo, Program Director，Ocean & Plastic at WWF China Beijing Office, made the concluding speech.
There is still a long way to go for the sustainable development of marine-related industries, and finance can play a key role in promoting it. Facing the specific industry of fishery, finance has important potential in promoting the sustainable development of the industry, but the complexity and multiple contradictions of its current situation create additional many challenges. The release of the series of reports aims to provide a reliable information and new ideas for promoting sustainable fishery finance in China, and at the same time provide a solid basis for further blue finance research and promote the future developments of this field.
Read the report: