The Paulson Institute’s Gracie Sun recently participated in the China-Singapore Finance Summit to discuss emerging trends in green finance. Sun, Senior Adviser and Managing Director of the Paulson Institute’s Green Finance Center, highlighted China’s growing role in shaping the global green finance landscape.
“China is a major force in promoting and leading the global development of green finance,” she said.
She noted that China was instrumental in bringing green finance into the G20 framework, and played a significant role in the launch of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), the Green Investment Principles (GIP) for the Belt and Road, and the International Platform on Sustainable Finance (IPSF) with international partners.
Sun also discussed the importance of American green finance leadership and the crucial role of international cooperation.
“With the US rejoining the Paris Agreement and new nationally determined contributions announced at the Climate Leaders’ Summit, it seems the US is ready to take part in the international collaboration on climate again,” she said.
Green finance is an important way to address climate change, and this year’s G20 summit in Italy may provide a good window of opportunity with the relaunch of the Sustainable Finance Working Group co-chaired by the US and China.
“The road to the major global convenings set for the end of the year is long and challenging, but this spring has indeed provided a hopeful start for international cooperation in green finance.”
The China-Singapore Finance Summit is co-hosted by Chinese and Singapore government authorities including the Ministry of Commerce of China, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the Ministry of Trade and Industry of Singapore, the Monetary Authority of Singapore, and the Chongqing Municipal Government.