This evolution marks a pivotal moment in China's ESG journey, as it aligns with global sustainability imperatives while fostering domestic economic growth.
From September 7th to 8th, the Second Sustainable Investment and Free Trade Port Development Forum (ESG) took place in Sanya, Hainan. Under the theme of "Sustainable Development: Paving the Green Path to the Future," the forum brought together more than 100 listed companies and over 70 investment institutions to discuss sustainable development. The primary objective was to foster the convergence of finance and the real economy and support the development of Hainan's Free Trade Port.
At the forum, Chairman Tu Guangshao of the Shanghai Institute of New Finance revealed that China's ESG (Environmental, Social, and Governance) development has entered its 2.0 phase, marked by five notable trends:
- Synergy Between the Real Economy and Financial Services: A dynamic interplay between the tangible economy and financial services.
- Infrastructure Advancements and Hands-on Initiatives: Concurrent progress in infrastructure development and practical initiatives.
- Policy Driven Momentum and Market Mechanism Integration: A powerful alignment of policy directives and market mechanisms.
- Diverse Stakeholders and Ecosystem Harmony: Coordinated efforts among various stakeholders within an ecological framework.
- Domestic Advancements in Tandem with International Trends: Domestic growth strategies aligning seamlessly with global developments.
The opening ceremony of the forum was graced by the presence of Wang Anshun, former Deputy Director of the State Council Development Research Center, who delivered a keynote address. Wang emphasized the complementary nature of ESG and regional development. To achieve both the "Dual Carbon" goals and the 2035 modernization objectives, active involvement of social capital in ESG investments in key industries is essential. He also stressed the importance of continued implementation of carbon border taxes, financial openness, and further advancement in establishing an ESG policy framework.
This forum serves as a critical platform for facilitating sustainable growth and aligning financial initiatives with broader developmental goals in the context of Hainan's Free Trade Port.