Original title: The Conference on the Influence of Sustainable Development was held in Beijing, focusing on financial support for net zero transformation

China News Network, Beijing, May 23 (Reporter Bo Wenwen) In order to support the private sector to participate in sustainable investment and financing activities and help the world accelerate the realization of the United Nations 2030 Sustainable Development Goals (SDGs), the Conference on the Influence of Sustainable Development: "Financial Support for Net Zero Transformation" was held in Beijing on May 23.

The event was co sponsored by the Asia Pacific Bureau of the United Nations Development Programme (UNDP) and its representative office in China, the Asian Securities Industry and Financial Market Association (ASIFMA), the Macro and Green Finance Laboratory of the National Development Research Institute of Peking University, and the Climate Bond Initiative (CBI).

Diana Parusheva, the head of public policy and sustainable finance of the Asian Securities Industry and Financial Market Association, said in her speech at the event that China is currently developing rapidly in the field of transition finance and has the largest carbon market in the world. In 2023, the International Council for Sustainable Standards will set up an office in Beijing. When a country pushes forward its "double carbon" goal with such great ambition, its influence will not only affect the whole Asia, but also the whole world.

The picture shows Diana Parusheva, head of public policy and sustainable finance at ASIFMA. Picture provided by the United Nations Development Programme in China

Ma Jun, director of the Macro and Green Finance Laboratory of the National Development Research Institute of Peking University and president of the Beijing Green Finance and Sustainable Development Research Institute, said in his speech that China has formed a policy framework for green finance, and its "four pillars" include definition standards, information disclosure, incentive mechanisms and international cooperation.

The picture shows Ma Jun, director of the Macro and Green Finance Laboratory of the National Development Institute of Peking University. Picture provided by the United Nations Development Programme in China

Kanni Wignaraja, Assistant Administrator of the United Nations Development Programme and Director of the Asia Pacific Bureau, said in the keynote speech that it is necessary to further implement the concept of environment, society and governance (ESG) and build a collaborative system of green finance and transformation finance to meet the challenges in the Asia Pacific region and even the world. She also said that the United Nations Development Programme would continue to support the promotion of private capital investment in sustainable development goals.

The picture shows Kanni Wignaraja, Assistant Administrator of the United Nations Development Programme and Director of the Regional Bureau for Asia and the Pacific. Picture provided by the United Nations Development Programme in China

During the meeting, the report "Financial Support for Climate Transformation of China's Agricultural and Food System: Mitigation, Adaptation and Justice" was released, which believed that transformation finance played a key role in leveraging private capital to support climate transformation of China's agricultural and food system and ensuring its fairness.

The report suggests that the regulatory authorities should improve the level of climate information disclosure of the agricultural and food sectors, guide and support agricultural and food entities to develop credible transformation plans. The government should strengthen policy incentives, including formulating transition financial incentive policies, giving full play to the synergy between transition financial policies and inclusive financial policies, and tilting existing agricultural support policies to agro food climate transition economic activities.