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The City of London Corporation is helping to bring together some of the world’s biggest banks in Beijing tomorrow (Friday 16 August) to discuss for the first time implementation of Green Investment Principles (GIPs) for the Belt and Road, announced in London in November last year.
The Bank of China, Standard Chartered, HSBC, China Development Bank and more than twenty other banks and financial institutions (*full list below) are among the signatories and will be among those attending the meeting, which will see all signatories and supporters share knowledge on green investment and best practices.
The GIPs were launched at the Belt and Road Forum in April, with the overall aim of factoring environmental risk and climate resilience into infrastructure projects.
They were welcomed by the UK and Chinese governments in the policy outcome paper at the 10th UK-China Economic and Financial Dialogue.
This came as a result of work delivered by the UK-China Green Finance Centre, supported by the Green Finance Institute and China’s Green Finance Committee.
Sir Roger Gifford, Chair of the Green Finance Institute and Co-Chair of the UK-China Green Finance Centre, said:
I am excited to be attending the first plenary meeting of the Green Investment Principles, the first of their kind and a potential game-changer in mitigating the potential environmental impact of the Belt and Road Initiative.
With the collaboration of our Chinese partners through the UK-China Green Finance Centre, we are playing a fundamental role in ensuring that one of the biggest infrastructure projects in history incorporates low-carbon and sustainable development.
I am confident that this first meeting will together put us firmly on the path toward achieving that key objective.
Notes to editors
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk
LIST OF SIGNATORIES