Core Viewpoint - The People's Bank of China has implemented a series of practical measures during the 14th Five-Year Plan period to promote the high-quality development of green finance, establishing a comprehensive framework for standards, tools, cooperation, and tangible results [1]. Group 1: Green Finance Standards - A multi-field standard system is gradually being established, with 1 national standard, 9 industry standards, and over 30 green finance standards under research. The first national green finance standard, "Green Finance Terminology," is set to be published by 2025 [2]. - The green finance support project directory has expanded the scope of green finance to include trade and consumption, achieving full-chain coverage from production to consumption [2]. Group 2: Transition Finance Standards - Transition finance standards have made significant breakthroughs, with pilot programs in over 20 provinces for industries like steel, coal power, construction materials, and agriculture. By the end of August 2025, approximately 67 billion yuan in transition loans were issued [3]. - The second batch of transition finance standards for metallurgy, petrochemicals, and other industries is being developed, with local standards and enterprise transition planning manuals being introduced in key regions [3]. Group 3: Biodiversity and Blue Finance Standards - A financial standard system for biodiversity and blue finance is being established, with over 20 provinces initiating pilot programs for biodiversity finance directories [4]. - Blue finance standards are under development, with plans for pilot testing in coastal areas [4]. Group 4: Green Finance Tools - The demand for green finance has increased, leading to the development of a diverse range of financial products, including green loans, bonds, insurance, and funds. As of the second quarter of 2025, the balance of green loans was approximately 42.39 trillion yuan, and green bonds exceeded 2.2 trillion yuan [6]. - The carbon reduction support tool has guided financial institutions to issue over 1.38 trillion yuan in carbon reduction loans since its inception in 2021 [5]. Group 5: Risk Management - The People's Bank of China is conducting climate risk stress tests to enhance financial institutions' risk management capabilities, ensuring the stability of the green finance market [7]. Group 6: International Cooperation - China has taken a leading role in the G20 sustainable finance working group, producing key documents like the G20 Sustainable Finance Roadmap and the G20 Transition Finance Framework [8]. - The establishment of the International Platform for Sustainable Finance (IPSF) with the European Commission aims to align green finance standards internationally, facilitating cross-border capital flow into green sectors [8]. - China is actively participating in multilateral and bilateral green finance cooperation, including initiatives under the Belt and Road Initiative to promote green investment [9].

公益之路：与中国高质量发展同频共振 渣打的公益历程，清晰地呈现出一条伴随中国经济与社会发展而迭代的路径。这一历程被洪军概括为从1.0到3.0的演进，一场从"授人以鱼"到"授人以渔"， 再到"共创渔场"的深刻变化。 早期的1.0阶段以"看得见的希望"项目为代表，通过员工捐款与集团配捐，与政府部门和公益机构合作，针对可预防失明的议题，开展对医生的培训，对公 众的宣教以及医疗设备的升级，支持防盲治盲。随着社会需求的变化与集团公益战略的聚焦，公益重点转向2.0阶段，关注"青年教育、就业与创业"。期 间，渣打和公益机构，高等院校，以及来自中外企业的志愿者合作，通过开展大学生就业技能培训、大学生创业竞赛等形式，支持青年用商业方案解决社会 问题。 转自：新华财经 近日，一场围绕"绿色与可持续发展"的主题圆桌在渣打银行中国总部举行。作为渣打中国首届公益周的重要环节，圆桌会汇集了渣打、戴德梁行、公众环境 研究中心、公益受益企业"好润环保"等多方代表，从绿色金融、不动产管理、生物多样性保护、环保公益实践等多维度，探讨如何通过多方协同合作，支持 可持续发展。 图：渣打公益周"绿色与可持续发展日"主题活动 据了解，此次公益周的举办， ...

Core Insights - The article highlights the rapid development of green finance in China during the "14th Five-Year Plan" period, emphasizing its role as a key driver for the country's low-carbon transition and the achievement of the "dual carbon" goals [1][7]. Green Financing Growth - Green loans and green bonds have seen significant growth, with green loan balances reaching 42.39 trillion yuan by mid-2025, a 254.73% increase from the end of 2020 [2]. - The growth rate of green loans has consistently been between 21.70% and 38.50% from 2021 to 2024, indicating a robust upward trend [1]. - The proportion of green loans in total loans has increased from 6.92% at the end of the "13th Five-Year Plan" to 15.78% by mid-2025 [2]. Green Bond Market Expansion - The issuance of green bonds has expanded significantly, with annual issuance growing from over 200 billion yuan during the "13th Five-Year Plan" to over 600 billion yuan in 2021, and maintaining an average of 750 billion yuan from 2021 to 2024 [3]. - The number of issuers has increased from 35 in 2016 to 249 in 2024, with the number of issuances growing ninefold [3]. - Green bonds are expected to support annual CO2 emissions reductions of approximately 14.14 million tons and save 1.51 million tons of energy [3]. Diverse Green Financial System - The green financial system has diversified to include green investments, green insurance, green futures, and carbon financial products, becoming a crucial part of the overall green finance landscape [4][6]. - A significant portion of public funds (53.8%) now explicitly incorporates green investment into their strategies, with 76.9% having issued green investment-targeted products [4]. Transition Finance Emergence - Transition finance is emerging as a critical component of sustainable finance, focusing on supporting high-carbon industries in their shift to low-carbon operations [7][8]. - The new round of Nationally Determined Contributions (NDC) announced in September sets ambitious targets for greenhouse gas emissions reduction, necessitating substantial funding for low-carbon transitions [7]. - Transition finance is expected to surpass financing for "pure green" activities, as only about 10% of economic activities are currently classified as "pure green" [8].

Core Viewpoint - The article emphasizes the integration of biodiversity protection into corporate strategies, highlighting the shift from viewing environmental protection as a burden to recognizing it as an asset that can enhance long-term resilience and attract capital [3][4][5]. Group 1: Corporate Initiatives in Biodiversity - China Three Gorges International Corporation has established a fish breeding center at the Brazil's Salto Hydropower Station, demonstrating a commitment to ecological protection through practical initiatives [3]. - The company collaborates with São Paulo University to control the invasive species golden mussel using genetic technology, showcasing a proactive approach to biodiversity management [3]. Group 2: Financial Models and Sustainable Investment - Professor Qiu Ciguang from Shanghai Jiao Tong University proposes a "three-dimensional model" for financial investment that incorporates ESG impact as a critical dimension alongside risk and return [4]. - The article discusses the importance of developing business models that balance production and ecological protection, advocating for government or philanthropic intervention in extreme cases [4]. Group 3: Financial Tools for Sustainable Development - Investment tools such as green bonds and green loans are highlighted as essential for achieving sustainable finance, allowing companies to integrate international ESG principles into their operations [4]. - Suzano, a Brazilian forestry giant, links 46% of its financial investment portfolio to ESG goals and issued its first green panda bond in China for sustainable land management [5]. Group 4: Future Directions in Capital and Ecology - The article suggests that ecological protection is becoming a core component of corporate strategy rather than merely an added cost, indicating a shift in how businesses approach sustainability [5]. - The emerging mechanism of "protectors earning money and destroyers paying" is seen as a promising direction for aligning capital with ecological protection efforts [5].

Core Insights - The rapid development of the green finance market has led to an increase in relevant information and data, with a focus on the latest trends and practices in the field [1] Group 1: Sustainable Finance Initiatives - The Hong Kong Monetary Authority has launched the second phase of public consultation for the "Hong Kong Sustainable Finance Classification Directory," expanding the coverage from 4 to 6 industries and from 12 to 25 economic activities, introducing definitions for "transformation" and "climate change adaptation" [2] - The Central Securities Depository has released a revised disclosure indicator system for green finance, enhancing the compatibility of environmental benefit disclosure standards for green bonds and loans, and providing a unified basis for market application [3] - The China Securities Regulatory Commission reported that the disclosure rate of sustainable reports among listed companies is expected to reach 34.7% in 2024, with mandatory disclosures starting in 2026 for certain companies [4] Group 2: Market Developments and Innovations - A seminar on the innovative application of the Common Green Taxonomy (CGT) reached consensus on expanding the taxonomy to include low-carbon mining and green shipping, and promoting the visibility and investability of green products [5][6] - The national carbon market saw a price fluctuation with a peak of 58.20 yuan/ton and a total trading volume of 11,808,565 tons last week, indicating active market engagement [7] - Gansu Province has launched its first biodiversity loan product, "Borrowing for Pasture," aimed at supporting ecological protection and restoration, marking an innovative financial practice in biodiversity finance [8] - The Macau International Carbon Emission Trading Exchange has officially launched its new green asset trading platform, enhancing the efficiency and transparency of carbon asset transactions [9]

Group 1: Conference Overview - The 2025 Sustainable Global Leaders Conference will be held from October 16 to 18 in Shanghai, focusing on "Facing Challenges Together: Global Action, Innovation, and Sustainable Growth" as its core theme, aiming to explore new paths for sustainable development and inject "Chinese momentum" into global governance [1] - The conference is co-hosted by the World Green Design Organization (WGDO) and Sina Group, with support from the IFRS Foundation and the Shanghai Huangpu District People's Government [1] Group 2: Financial Sector Insights - Discussions at the conference highlighted the importance of the "Five Major Articles" in constructing a new ecosystem for sustainable development in the securities industry, emphasizing collaboration among banks, securities, and insurance institutions to provide comprehensive services [3][7] - China Galaxy Securities' Chairman Wang Sheng noted that innovation is the primary driving force for development, with a focus on technology finance as the first of the "Five Major Articles," indicating that the capital market has formed a multi-level service system for technology finance [5] - CITIC Securities' General Manager Zou Yingguang emphasized the need for continuous investment in technology finance and the exploration of innovative products in green finance to support the "dual carbon" goals [10] - The ESG strategy of China Merchants Securities aims to create a capital cycle that supports low-carbon transformation and enhance social welfare, integrating the "Five Major Articles" with ESG development [12] - Guangda Securities' President Liu Qiuming discussed the importance of integrating the "Five Major Articles" into the company's strategy and achieving positive progress in supporting innovation and financing for high-tech enterprises [15] - Guo Chuanzhou, Chairman of Yuekai Securities, highlighted the company's efforts in promoting inclusive finance and knowledge property transactions to support small and medium-sized enterprises [19] Group 3: Wealth Management Trends - Guo Xiaobo, President of Guolian Minsheng Securities, pointed out that wealth management has a significant impact on the valuation and market value of securities firms, with a notable shift towards wealth management and asset management in the global securities industry [17]

Group 1: Conference Overview - The 2025 Sustainable Global Leaders Conference will be held from October 16 to 18 in Shanghai, focusing on "Facing Challenges Together: Global Action, Innovation, and Sustainable Growth" [1] - The conference is co-hosted by the World Green Design Organization (WGDO) and Sina Group, with support from the Shanghai Huangpu District People's Government [1] Group 2: Financial Sector Insights - Discussions at the conference highlighted the need for collaboration among financial institutions to implement the "Five Major Articles" for sustainable development in the securities industry [3][7] - China Galaxy Securities' Chairman Wang Sheng emphasized the importance of technology finance as the first of the "Five Major Articles," noting that the capital market has formed a multi-level service system for technology finance [5] - CITIC Securities' General Manager Zou Yingguang stated that the firm will focus on deepening its investment in technology finance and exploring innovative products in green finance to support the "dual carbon" goals [10] - China Merchants Securities' President Zhu Jiangtao outlined the company's ESG strategy, which includes creating a capital cycle to assist low-carbon transitions and enhancing digital transformation [12] - Everbright Securities' President Liu Qiuming discussed integrating the "Five Major Articles" into the company's strategy to support innovation and service the real economy [15] - Guotai Junan Securities' President Ge Xiaobo highlighted the significance of wealth management in the high-quality development of investment banks, noting its substantial contribution to global securities industry revenue [17] - Yuekai Securities' Chairman Guo Chuanzhou mentioned the company's efforts in promoting inclusive finance and supporting regional industrial development through knowledge property transactions [19]

2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。 2025可持续全球领导者大会由世界绿色设计组织（WGDO）与新浪集团联合主办，国际财务报告准则 基金会（IFRS Foundation）北京办公室协办，新浪财经与世界绿色设计组织北京代表处承办，上海市黄 浦区人民政府支持。 申能集团作为大会全球合作伙伴，在"申能集团专场分论坛"上，围绕"全球变革中的上海行动与多元协 同"这一核心议题，热议"打造可持续发展的东方样板"、"解码上海产业升级的可持续动力"、"探索上海 五大中心的增长新范式"等话题。 中国太保副总裁、首席投资官、财务负责人苏罡出席大会并做主题演讲。苏罡表示，在赋能上海国际金 融中心建设的过程中，中国太保持续加强可持续金融创新，并在此领域取得了国际领先的成就。 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 苏罡介绍，太保在资产端和负债端双管齐下，加快绿色金融产品的供给与服务创新。在负债端，2024年 提供的绿色保险保额已超过147万亿元人民币，并成功落地上海首单碳普惠碳资产保险，填补了该领域 风险管理的空白。在资产端，公司持续完善责任投资管理体系，将E ...

Group 1 - The 2025 Sustainable Global Leaders Conference took place from October 16 to 18 in Shanghai, attracting significant attendance and engagement from exhibitors and visitors [1][6] - The China Financial Futures Exchange (CFFEX) showcased its collaboration with domestic universities at the event, highlighting its commitment to financial education [1][4] - The "CFFEX Cup" National College Financial Literacy Debate Competition concluded successfully in July, with Hunan University winning the championship [3][4] Group 2 - Since 2014, CFFEX has partnered with the China Futures Association to host the "CFFEX Cup" National College Student Financial Knowledge Competition, which has gained recognition and influence over the past decade [4] - The competition has seen participation from 1,230 universities and 300,000 students across various regions, making it one of the most influential financial events in China [4] - CFFEX has also established a "Bureau-Exchange-University Cooperation" mechanism, signing memorandums with ten universities to integrate investor education into the national education system [5] Group 3 - The 2025 Sustainable Global Leaders Conference was co-hosted by the World Green Design Organization and Sina Group, with support from the Shanghai Huangpu District Government [6]

Core Viewpoint - The sustainable finance sector should focus on supporting low-carbon transitions, creating a strong collective force across society to address climate challenges [1][2]. Group 1: Company Initiatives - Industrial Bank has been a pioneer in green finance in China, launching the first energy efficiency project financing product in the banking sector [1]. - The bank has maintained a strategic focus on green finance, evolving through three stages: initial exploration, strategic leadership, and deepening expansion [1]. - Currently, the green financing balance of Industrial Bank is nearly 2.5 trillion yuan, with green loans exceeding 1 trillion yuan and a non-performing loan rate of only 0.57% for green loans [1]. Group 2: ESG and Strategic Commitments - The bank has established a Strategic and ESG Committee at the board level to extend its environmental advantages into social and governance areas [2]. - Industrial Bank has received the highest ESG rating in the Chinese banking sector for seven consecutive years, fostering harmonious relationships with stakeholders [2]. Group 3: Recommendations for Sustainable Finance - The industry should emphasize long-term commitment and demand-driven approaches, encouraging enterprises to prioritize ESG system development and low-carbon transitions [2][3]. - The financial sector needs to innovate and diversify financial services, particularly in green investment and asset management, to better support carbon reduction efforts [3]. - The carbon market should be more open and inclusive, enhancing resource allocation efficiency and liquidity for green low-carbon transitions [3]. - Regulatory bodies should encourage and support with more incentive measures, increasing funding support for carbon reduction tools and adjusting risk weights for green financing [3].