09/07/2021

China-EU Green Economic Cooperation and Development Summit


The China-EU Green Economic Cooperation and Development Summit, jointly organised by Bank of China, Luxembourg Stock Exchange, and China Chamber of Commerce to the EU, was successfully held online, and convened with keynote speeches, high level expert insights, an executive panel discussion and the issuance of the Green Action Initiative. 

This successful forum addressed the significance of Green finance and its importance in achieving the goal of carbon neutrality and sustainable development, a joint push by the EU and China on greater convergence of taxonomies of green finance and investments and building a greener global economy. Insights on how to leverage green innovation to drive transformation of enterprises and the challenges ahead was also discussed by panel experts. More than 600 participants attended this high level event from both China and Europe.  

To conclude the China-EU strategic high level partnership, the participating parties jointly issued the "Green Action Initiative", with the aim of fostering exchanges and discussions around the green transition, sustainability, and a particular focus on exploring the concrete dimensions of carbon neutrality and sustainable development.  China will seek to hit peak emissions before 2030, and to achieve carbon neutrality by 2060. Likewise, the EU aims to achieve climate neutrality by 2050, and an emissions reduction target of at least 55% by 2030 compared to 1990. Recognizing the importance of these commitments, this initiative stands united in supporting China and the EU to timely achieve their goals and promote deeper dialogue and strive to further develop the coordination of potential of both sides in the green economy. 

This China-EU Green Economic Cooperation and Development Summit is the first initiative of the green finance activities organized jointly by Bank of China, Luxembourg Stock Exchange, and China Chamber of Commerce to the EU in 2021, and marks an important moment on the establishment of building a road map for advancing sustainable finance.

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“At the Luxembourg Stock Exchange, we are fully committed to playing a key role in building the necessary bridges between China’s financial markets and international investors. Chinese and European capital markets need to join forces to promote and facilitate the growth of green finance, which is an essential step to accelerate the increasingly urgent green transition, and we welcome all the harmonisation efforts undertaken by Europe and China”, said Ms. Julie Becker.
Bank of China Luxembourg is located in the financial center of Europe, with Luxembourg as a pioneer in the development of global carbon trading and green finance, and looking ahead, the Bank will leverage its global expertise to bridge customers, markets and financial resources in China and Europe, and contribute its due share to support China-EU cooperation on green economy and global green governance. 

With the joint efforts of both sides, China-EU green economic cooperation will advance to new levels, and together, will take the lead in promoting a green recovery in the post-pandemic era.