Insights from the 15th Lujiazui Forum in #Shanghai 🌏
I had the honour of moderating a panel discussion at the Lujiazui Forum 2024, held on June 19-20. This year's theme, "Promoting World Economic Growth with High-quality Financial Development," brought together global leaders to address economic challenges and explore innovative solutions.
The forum emphasized sustainable, inclusive financial systems, focusing on digital transformation and low-carbon development to drive future growth amid global inflation and economic uncertainties. Our session on institutional innovation and green finance incentives highlighted strategies for achieving carbon neutrality, enhancing China's #greenfinance ecosystem, and improving the efficiency of its carbon market, with a focus on fostering cooperation with Europe.
The distinguished panel featured:
• Tu Guangshao, Chairman of the Executive Council of Shanghai Finance Institute
• Krishna Srinivasan, Director of the Asia and Pacific Department of the International Monetary Fund
• Ma Jianyang, Chairman of Shanghai Clearing House
• Dr. Thomas Schindler, CFO of Allianz Global Investors
• Zhu Jian, Chairman of Guotai Junan Securities Co., Ltd
• Phil Brown, CEO of Clearstream Banking S.A.
• Roland Boehm, Divisional Board Member at Commerzbank AG
#Frankfurt and Shanghai are linked by a strong partnership, solidified by a Memorandum of Understanding in 2021, promoting financial excellence and sustainable development. China's goals of carbon peaking by 2030 and neutrality by 2060, along with Germany's targets to cut emissions by 2045 to zero, underscore the need for innovative mechanisms and market incentives to fund these projects.
The panel highlighted the importance of institutional innovation and market incentives in advancing green finance. We discussed enhancing #ESG investment ecosystems, learning from European experiences, and encouraging commercial institutions to innovate in green financial products.
The #LujiazuiForum remains a crucial platform for dialogue, driving solutions for global economic growth. Thanks to the organizers for a thought-provoking event and to all the panellists for their contributions.
Looking forward to seeing the positive impacts of these discussions unfold.