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IISD China Program champions sustainable development through research, information exchange, partnerships and advocacy.

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IISD in China

Greening China's Financial Market Reform

    Topic in Focus
    Reforming China's financial markets is imperative to supporting the next stage of the nation's economic development. Greening China's economic development through improving resource productivity, building the integrity of supply chains, reducing pollution and supporting more effective climate management is also a priority. Less developed at this stage is a policy appreciation of how China's financial market reform relates to its its green growth agenda.

    The International Institute for Sustainable Development (IISD), working in partnership with the Development Research Centre of the State Council (DRC), has launched the Greening China's Financial Market Reform initiative. Its goal is to identify how financial market reform can be advanced in ways that channel capital towards the greening of China's economy. Following an initial scoping phase, the initiative is now building a profile of current developments in China, and best practices in international financial market policy and regulatory developments relevant to China.

    Current Initiatives
    Focus areas in this phase include: green bonds, stranded assets, incentives, fiduciary models and new approaches to financial market accountability aligned to sustainable development outcomes. IISD experts currently involved in the initiative include Nick Robins, the head of HSBC’s International Center of Excellence for Climate Change; Andy Haldane, executive director of Financial Stability at the Bank of England; Sean Kidney, CEO of the Climate Bonds Initiative; Mark Fulton, former global head of Climate Change Investment Research, Deutsche Bank; Jessica Robinson, CEO of the Association for Sustainable & Responsible Investment in Asia; Keith Johnson, chair of Institutional Investor Services Group; Thomas Meyers, founder, president and chairman of China Trade Institute; and Wang Yao, director, Research Center for Climate and Energy Finance, Central University of Finance and Economics. Simon Zadek, senior fellow at International Institute for Sustainable Development and at Global Green Growth Institute, and visiting scholar at Tsinghua School of Economics and Management, hosts these experts.

    From October 14–18, 2013, the initiative committee will convene international and Chinese experts in Beijing to discuss the results to date of the policy research. As part of this gathering, the initiative committee will co-host a series of dialogues on the topic of greening financial market reform. These dialogues will include a number of sessions open to the private sector, academics, policy-makers and international organizations, where invited participants will have the opportunity to listen to and engage in discussions with invited IISD experts and Chinese-based practitioners, policy-makers and experts.

    Further enquiries are welcome in English to the project leader, Simon Zadek (simon@zadek.net)

    Program of Events
    Focus areas include: green bonds, stranded assets, incentives, fiduciary models and new approaches to financial market accountability aligned to sustainable development outcomes.

    • October 15 IISD-DRC Workshop on Greening China’s Financial Market Reform (closed door)
    • October 16, 4:30–6:00 pm IISD-Chinese University of Economics and Finance Workshop on Global Green Finance (invite only)
    • October 17, 2:00–4:00 pm IISD-Greenovation Hub Workshop on Sustainable Finance and Financial Reform (invite only)
    • October 18, 10:00 am–12:00 pm IISD-UN Theme Group on Climate Change and Environment Workshop on Financing for Sustainable Urbanization (invite only)

    Policy Partnership
    Greening China`s Financial Markets is a joint initiative of the IISD and the DRC.

    International Institute for Sustainable Development (IISD)
    IISD is an international, policy-focused think tank. Over its more than two decades in existence, it has focused internationally mainly on the nexus of sustainability and economic issues, including trade and investment as it relates to international governance, national policy-making and private sustainability standards. It has worked in China for over a decade, partnering with the DRC and also the ministries of Commerce and Environmental Protection through its involvement in the China Council for International Co-operation on Environment and Development.

    The IISD program on Sustainable Finance aims to explore how the financial system and the financial services sector might be re-engineered to deliver on sustainable and equitable development. IISD defines sustainable finance as provision of financial capital and financial risk management services in a manner that provides for economic growth, social justice and stewardship of the natural environment.

    Development Research Center of the State Council (DRC)
    DRC is China’s premier government policy development institution. It has played and continues to play a crucial role in developing high-level policy for central government. It has a long history of working with international institutions, drawing international experience and expertise into the policy development process. Most recently, this has included the influential publication China 2030, developed in close collaboration with the World Bank.

    The DRC’s Research Institute of Finance is the key unit within DRC responsible for work on financial markets, focusing on the macro, strategic, policy-oriented and foreseeable issues in the financial sector. It directly provides services to the central government for decision-making. The Research Institute of Finance prioritizes comprehensive research on regulatory policies for monetary policy, banking, insurance, securities and exchange rates, among other topics.