PBC-IMF High-Level Seminar on Green Finance and Climate Policy

April 15-16, 2021

Climate change poses a fundamental risk to economic and financial stability. But tackling climate change also provides an opportunity to reinvigorate growth, create new jobs, and secure a green recovery at a critical moment.

Climate change poses challenges for central banks, for monetary policy, and for financial stability. The financial industry will both be affected by climate change and help facilitate strong adaptation and mitigation policies. Here, central banks and financial supervisors can play a crucial role—including by assessing risks, stress testing, and establishing transparent regulatory frameworks around the financing of “green” investment. The contribution of the financial sector to climate change policies in the next decades will depend on the willingness and ability of financial institutions and investors to incorporate climate change risk and support sustainable and responsible investment.

Global challenge invites global solutions. This seminar will review international experience on green finance and discuss the role of central banks and financial regulators, as well as the role of financial institutions and investors. More broadly, seminar participants will also discuss climate mitigation and adaptation strategies in the Asian region, China’s climate and economic plans to achieve carbon neutrality by 2060, differences and similarities between China’s climate policies and those in other countries, and global climate policy coordination efforts to avert a climate crisis.

PBC Governor Yi Gang and IMF Managing Director Kristalina Georgieva will deliver opening remarks for the seminar. The event will bring together leading experts and practitioners in climate policy and green finance from academia, Chinese financial institutions, and government agencies, as well as around 40 international institutions mainly financial institutions and central banks.

The seminar is by invitation only. Following the event, we will publish an e-book with presentations and short summaries.

Download the E-book

Agenda (Beijing Time)

DAY 1 - Green Finance

19:00-19:30

Opening Remarks

- YI Gang, Governor, PBC (15 min)

- Kristalina Georgieva, Managing Director, IMF (15 min) | Speech

19:30-20:40

Session I: Green Finance and the Role of Central Banks and Financial Regulators

Climate change poses challenges for central banks, for monetary policy, and for financial stability. The financial industry will both be affected by climate change and help facilitate strong adaptation and mitigation policies. Here central banks and financial supervisors can play a crucial role—including by assessing risks, stress testing, and establishing transparent regulatory frameworks around the financing of “green” investment.

Moderator : Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF(5 min)

Speakers : (7 min for each)

1. MA Jun, Chairman, Green Finance Committee of China Society for Finance and Banking

2. Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank

3. Luiz Awazu Pereira da Silva, Deputy General Manager, BIS

4. Nick Robins, Chair of the INSPIRE Advisory Committee and Professor of LSE

Discussion

20:40-21:50

Session II: Role of Financial Institutions and Investors

The contribution of the financial sector to climate change policies in the next decades will depend on the willingness and ability of financial institutions and investors to incorporate climate change risk and support sustainable and responsible investment.

Moderator : LI Bo, Deputy Governor, PBC(5 min)

Speakers : (7 min for each)

1. TAO Yiping, President, Industrial Bank

2. Philipp Hildebrand, Vice Chairman, BlackRock

3. Bill Winters, Group CEO, Standard Chartered

4. Fiona Reynolds, Chief Executive Officer, PRI

5. Calvin Tai, Interim Chief Executive, Hong Kong Exchanges

and Clearing Limited

Discussion

21:50-22:00

Conclusion

1. Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF (5 min)

2. LI Bo, Deputy Governor, PBC (5 min)

DAY2 – Securing a Green Recovery |  Video

19:00-20:05

Panel Session III: Policy Mix for Climate Change Mitigation

The panel will focus on: climate mitigation and adaptation strategies in the Asian region; China’s climate and economic plans to achieve carbon neutrality by 2060; differences and similarities between China’s climate policies and those in other countries; and global climate policy coordination efforts to avert a climate crisis.

Moderator: MA Jun, Chairman, Green Finance Committee of China Society for Finance and Banking (5 min)

Speakers: (7 min for each)

1. Kenneth Kang, Deputy Director, Asia and Pacific Department, IMF

2. Prof. LI Zheng Tsinghua University

3. Prof. David Sandalow , Columbia University

4. Prof. Warwick McKibbin , ANU

5. Adair Turner, Chair, Energy Transitions Commission

Discussion

20:05-20:15

Wrap-up and Conclusion

1. ZHU Jun, Director-General, International Department, PBC

2. Vitor Gaspar, Director, Fiscal Affairs Department, IMF

For general questions related to the seminar: Ms. Jing Li (jli1@imf.org)

For media requests: Ting Yan (tyan@imf.org)