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Tsinghua PBCSF Economic Forum Brings Discussions on Carbon Neutrality

Time: 2021-09-23 13:44 Print

On September 16, 2021, Tsinghua PBCSF Economic Forum on Carbon Neutrality was held in the main building of Tsinghua University. The forum was held jointly by Tsinghua University PBC School of Finance (PBCSF), , Schwarzman Scholars, and Economic Press China under the theme of "Global Carbon Neutrality and Energy Transition". Domestic and international experts from government departments, international organizations, large energy enterprises and financial groups gathered to discuss low-carbon transition and development.

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Zhang Xiaohui presents at the opening ceremony.

Zhang Xiaohui, dean of PBC School of Finance (PBCSF) presided over the opening ceremony and welcomed all the leaders, guests and friends from home and abroad presented and online. She suggested that the "dual carbon" (carbon peak and carbon neutrality) goal is a broad and profound social systemic revolution that requires concerted efforts from all sectors in terms of energy, manufacturing, and education. In particular, the financial sector plays an indispensable role in guiding the allocation of resources, supporting the green and low-carbon transformation of the economy and proactively preventing financial risks arising from climate change. Green and low-carbon development is a major trend in pursuing global sustainable development. At the same time, the integration of development and emission reduction, and the coordination of the overall and the certain situations, also need to collect global insights to ponder and explore the key solution, hence the purpose of this forum. She added, she expects experts from government, international organizations, large energy enterprises and financial institutions, both at home and abroad, to contribute insights and suggestions on carbon reduction and emission reduction.

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Yang Bin delivers a speech.

Yang Bin, Standing Member of the Tsinghua University CPC Committee and Vice President of Tsinghua University, delivered the opening speech. He said that Tsinghua University is making efforts in promoting the transformation of key industries and advancing technological progress. The "double carbon" goal is a responsibility, as well as an opportunity. Tsinghua University will take full strength in chemical engineering and promoting the strategic transformation of related engineering disciplines, as well as the multi-disciplinary integration to support carbon neutrality transition.

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The Photo of Li Yizhong

Li Yizhong, vice director of the Economic Committee of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC), chairman of the China Federation of Industrial Economics and former minister of the Ministry of Industry and Information Technology, gave a keynote speech with the theme "acting with a responsibility, taking more concrete steps and promoting the progress of 'Double Carbon'". He noted that achieving peak carbon and carbon neutrality is a heavy responsibility, as well as a formidable task. As a large developing country, China's industrial energy consumption is the main source of carbon emissions. Thus, carbon reduction and emission reduction should start from the industrial source to adjust and optimize the energy structure, industrial structure and product structure. Li analyzed the progress of China's energy consumption structure adjustment in recent years, made pragmatic suggestions for the optimization of industrial structure and product structure, and pointed out that we should actively develop new energy sources while carrying out green and intelligent technological transformation. He suggested that all sectors should dialectically analyze and accurately understand the meaning of "double carbon", and attend to the rational development and scientific use of fossil energy while developing non-fossil energy sources, so as to achieve the matching and complementarity of various energy sources. Based on promoting the basic work and policy research, efforts should be made in the scientific and technological research. He also pointed out that the "double carbon" goal is a complex and arduous task that requires the joint efforts of the whole society.

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Photo of Xiao Gang

Xiao Gang, former chairman of the China Securities Regulatory Commission, shared the deployments and practices made by the financial sector in promoting carbon reduction and emission reduction. Green finance is the collective term for a range of financial services organized to support environmental improvement, deal with climate change and use resources effectively, as well as an important part of the policy framework for "dual carbon" goal. Since the 14th Five-Year Plan, China's green finance has focused on carbon reduction, which will have a long-term and systemic impact on the change of the financial industry, and will bring new challenges to monetary and macro-prudential policies. He believed that to further develop green finance, it is necessary to implement a positive incentive mechanism, foster a system of ESG assets for individual investors, strengthen environmental risk analysis and stress testing, as well as enhance disclosure of environmental information, strengthen supervision on green finance and effectively forestall and resolve financial risks.

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Photo of Ma Yongsheng

Ma Yongsheng, member of the Chinese Academy of Engineering and general manager of Sinopec Group delivered a speech. He expressed that it is the common responsibility to deal with climate change, and the "double carbon" goal has been added into the overall plan of China's ecological progress and has become an important consensus of the society. In the context of the "double carbon" goal, the Sinopec has made multiple explorations on energy transformation. "Double Carbon" is a complex and long-term systematic project, and Sinopec Group is dedicated to achieve the "Double Carbon" goal and promote sound and steady economic and social development.

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Photo of Jin Yong

Jin Yong, member of the Chinese Academy of Engineering and dean of the Institute of Chemical Science and Technology of Tsinghua University, spoke on the topic of "Carbon Peak, Carbon Neutrality and Disruptive Technology Innovation". He first analyzed the current global situation of the large carbon pool and the current situation of carbon emissions in China, and put forward views on how to achieve a balance between carbon reduction and economic development.

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Photo of Ju Jiandong

Ju Jiandong, professor at PBC School of Finance (PBCSF) and director of the Green Finance Development Research Center at the Tsinghua University National Institute of Finance, made the concluding speech. He expressed thanks to the officials and guests for their support to this forum and shared his ideas on carbon neutral economy. Ju said that carbon neutrality needs to be achieved through a integration of scientific, technological, economic and financial means. On finance level, it is important to pay attention to the carbon markets and carbon taxes. He then elaborated on the latest research achievements on carbon tax, and the aspects of social life that may be affected by carbon taxes.

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Tsinghua PBCSF Economic Forum on Carbon Neutrality

The followed parallel sessions were carried under three themes: carbon neutrality and energy transition, financial support for carbon neutrality, and carbon neutrality and new energy. The experts discussed on the development path of carbon neutrality, policies and opportunities of carbon neutrality, and the development of new energy.