A key goal is to build synergies between top-down guidance and bottom-up application and innovation in order to create synergies that unleash the full potential of green finance. The green finance journey can further be accelerated with supporting regulations, such as recent steps by China to create a unified energy market, within which green objectives such as linking emerging carbon emissions markets and water rights trading markets are expected to play a role.
Leveraging private and public partnerships to drive innovation in green finance and integrating climate and natural asset financing are the two overarching objectives of the 2022 CCICED scoping study. The study stresses the vital importance of integrating climate and biodiversity finance. While science unambiguously concludes that climate and ecological risks are deeply interconnected, climate and nature financing are not. Instead, climate and ecological financing are largely moving on separate tracks, with private sector engagement in climate finance continuously rising, while ecological and biodiversity financing are still dominated by public finance. The study examines how these gaps can be closed.
The international co-chairs of the CCICED Scoping Study are Violante Canossa, Development Economist, Head of Research and Policy Team, UNDP China, and Andrew Deutz, Director of Global Policy, The Nature Conservancy. The Scoping Study benefited from the opinions and advice of Chinese and international experts, who met several times between January and April 2022.
Task Force: Green Energy, Investment and Trade, Low-Carbon and Inclusive Transition Topic: Sustainable Finance Year: 2022 Phase: Phase VI (2017-2022) Concluded
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