May 23, 2024, Beijing — The SDG Impact Conference “Transitioning to Net-Positive,” was successfully held in Beijing today.
 
Co-hosted by the United Nations Development Programme (UNDP), in collaboration with the Asia Securities Industry & Financial Markets Association (ASIFMA), the Macro and Green Finance Lab of the National School of Development at Peking University, and the Climate Bond Initiative, the event focused on how the Sustainable Development Goals (SDGs) could be integrated into financial decision-making, promoting net-positive impacts through sustainable investments.
 
The Asia Pacific region currently faces an annual climate financing gap of at least 800 billion dollars, while globally, maintaining the current trajectory would result in projected losses of 2.3 quadrillion dollars by 2100.
 
"The growing evidence and math seems clear: green investments support not only people and planet, but also, prosperity,” said UNDP Regional Director for Asia and the Pacific Kanni Wignaraja. “However, turning massive hard-to-abate sectors and huge business and political interests, will take more than doing the math. It will take financing of these transitions."
 
Ms. Diana Parusheva, Head of Public Policy and Sustainable Finance at ASIFMA, said, "The impact of China's climate ambitions will be important for the entire world. ASIFMA will support the net-zero goal from a financial industry perspective."
 
Dr. Ma Jun, Director of the Macro and Green Finance Lab at the National School of Development, Peking University, and President of the Institute of Finance and Sustainability, introduced the EU-China consensus catalogue of green loans and green bonds to support the development of wind energy, solar photovoltaic and other industries, and called for the expansion of the consensus catalogue approach to more countries in the future to increase interoperability.
 
Mr. Sean Kidney, CEO of the Climate Bonds Initiative, said, " China, as the world's largest green bond market, has great potential in terms of how to leverage capital to support aspects related to combating climate change, but there is still a long way to go."
 
The conference featured insightful panel discussions with global financial leaders and sustainable finance experts, focusing on practical strategies for embedding sustainability at the core of business operations and exploring innovative financing options to accelerate the achievement of the SDGs.
 
The first panel of the conference focused on the role of the private sector in driving sustainable development. Panelists discussed the critical role of the private sector in achieving sustainable development goals, highlighting both challenges and opportunities. They emphasized the importance of corporate responsibility, innovation, and SDG integration in investment practices.
 
During the conference, a new report titled, "Financing Climate Transition in China’s Agri-food System: Mitigation, Adaptation, and Justice”, was launched. The report sheds light on the critical role of financial mechanisms in driving sustainable transitions in the agri-food sector.
 
The report launch was followed by a discussion on the potential of sustainable finance to transform the agri-food sector leveraging key findings of the report. Panelists stressed the significant impact of the agri-food sector on advancing climate and biodiversity goals. They exchanged insights on various financial instruments and investment strategies that can support sustainable agricultural practices, promote biodiversity, and mitigate climate change.
 
The discussions held during today’s SDG Impact Conference have set the stage for ongoing and future initiatives aiming to advance the 2030 Agenda for Sustainable Development and financing for the SDGs.