On March 23rd, the Global Economic Governance 50 Forum held a closed-door Discussion on “The Advancement and Governance of Carbon Neutrality" focusing on sustainable development and energy transformation in the world and China.

Nicholas Stern, Chair Professor of Economics at the London School of Economics, Wang Yi, Vice-Chair of the National Expert Committee on Climate Change, Zou Ji, CEO and President of the Energy Foundation China, and Erik Berglof, Chief Economist of the Asian Infrastructure Investment Bank (AIIB) were invited to share their recent researches and insights.

The Discussion was chaired by Zhu Min founder of the Global Economic Governance 50 Forum and former Deputy Managing Director of the IMF. More than forty guests were invited to join the discussion.

Professor Nicholas Stern delivered a keynote speech titled "A Growth Story for the 21st Century: building sustainable, resilient, and equitable development" He discussed the relationship between climate change mitigation and growth, the role of policy-making, investment, and the part China plays, as well as the significant impact China's example of action has on global transformation. Stern emphasized the need for China to develop consistent policies, strategic goals, and a series of clear measures related.

Wang Yi gave a Keynote Speech on "UAE Consensus, System Uncertainties and a Briefing on China’s Climate Policy Progress". He interpreted the overall development of green and low-carbon transition based on the latest global progress on climate change and policy changes in China. He highlighted the necessity for China to adopt a systematic approach to advance green and low-carbon transition, to more actively and prudently promote peak carbon dioxide emissions and carbon neutrality, and to choose the path of transition more autonomously. Additionally, Wang stressed the importance of strengthening legislation, such as promoting the "Energy Law" and "Atomic Energy Law," and continuously improving the management system.

Zou Ji shared insights on "Carbon Neutrality: Support of Economics". He summarized the practices of the Energy Foundation in China, especially in provinces and cities, and actions in achieving carbon neutrality and peaking carbon emissions. Zou pointed out the development of China's carbon-neutral economy but also noted disparities among different regions, emphasizing the need for a governance framework to conduct macro and micro dynamic analyses and to seek solutions in central and local levels, environmental requirements, industry policies, and optimization of overcapacity.

Erik Berglof discussed "Advancement and Governance of Carbon Neutrality – insights from China, India and Brazil". He highlighted that, based on experiences in China, merely having a carbon price is insufficient without coordinated control-oriented measures across different government departments. Such coordination is achievable in China but requires substantial technological and financial support for implementation in India, Brazil, and most other countries. How these nations can efficiently and effectively transit is an important issue.

The seminar facilitated discussions on topics including climate change and clean energy, green technology innovation and risks, and nationally determined contributions (NDCs).

The "Global Economic Governance 50 Forum" is dedicated to conducting independent, forward-looking, and academically supported policy research on the improvement and transformation of the global economic governance system and providing solutions for China to better participate in global economic and financial governance.