Mr. Ma Jun Chairs Boao Carbon Neutrality Seminar, featuring Speeches by Zhou Xiaochuan and Others

On March 29, 2023, during the 2023 Boao Forum for Asia Annual Conference, a seminar entitled "Carbon Neutrality: Dilemmas and Breakthroughs" was chaired by Mr. Ma Jun,Chairman of the Green Finance Committee at China Society for Finance and Banking, the President of the Institute of Finance and Sustainbility, and Chairperson of China Alliance of Social Value Investment (CASVI). The seminar discussed the challenges and difficulties faced by China and the world in achieving carbon neutrality goals, as well as the responses of governments, financial institutions, and companies.

The guest speakers who participated in the seminar included Mr. Zhou Xiaochuan, Mr. Viktor ZUBKOV, Mr. Yi Gang, Mr. Xuan Changneng, Mr. Zhao Chenxin,Mr. Abdulrahman AL-FAGEEH, Ms. Elizabeth GAINES, and Mr. Zhang Yue. In his opening speech,Mr. Ma Jun pointed out that carbon neutrality faces four major challenges: the conflict between the long-term carbon neutrality goals of various governments and short-term policy considerations, the coordination between price-based tools and non-price-based tools, the problem of green finance supporting high-carbon industries to transition to low-carbon, and the challenge for high-carbon companies to transition to low-carbon.

Mr. Zhou Xiaochuan and Mr. Yi Gang discussed various policy tools to promote carbon neutrality, emphasizing the need to balance policy tools to achieve the effect of reducing emissions. Mr. Zhao Chenxin stated that achieving dual-carbon goals requires systemic change, and the government can promote carbon neutrality goals through policy design and guidance, the supply of green and low-carbon policies, and incentives for corporate innovation. Mrs. Gaines stated that companies should actively take responsibility, and FMG pledged to no longer use fossil fuels and achieve net zero emissions by 2030.

During the discussion, Mr. Ma Jun suggested that the People's Bank of China (PBOC) establish "transformational financial support tools" to provide low-cost financing for transformational activities that meet the requirements. He also stated that China's green finance has made significant progress, and the PBOC has launched "carbon reduction support tools" with good results. The PBOC is also actively promoting the development of transformational finance and formulating a transformational finance directory for high-emission industries.

Finally, Mr. Zhang Yue proposed that the housing and construction industry has huge potential in reducing emissions, and that emission reduction goals can be achieved through the development of passive buildings and the use of reusable materials. The participating guests also expressed their opinions on other related issues such as wind power, green hydrogen, carbon capture, and specific cases of corporate low-carbon transformation, which were warmly welcomed by more than 300 on-site audiences.