From June 19 to 20, the United Nations Environment Programme Finance Initiative (UNEP FI) Regional Roundtable Asia Pacific was successfully held in Suzhou Industrial Park. As a biennial flagship event of sustainable finance in Asia Pacific, the conference brought together some 300 participants, consisting of the Asia-Pacific member institutions of UNEP FI, including signatory banks of the Principles for Responsible Banking (PRB) and signatory insurance companies of the Principles for Sustainable Insurance (PSI), as well as academic experts, policymakers, and financial institution representatives from 23 countries and regions. They engaged in in-depth discussions on cutting-edge topics including net-zero banking and insurance, climate and transition finance, financing clean energy, just transition, and ESG data solutions, driving the advancement of sustainable finance in the Asia-Pacific region.
The event was co-hosted by UNEP FI and Duke Kunshan University, organized by SynTao Green Finance, and received special support from the Suzhou Industrial Park Urban Development Research Institute under Sungent Group and the Suzhou Industrial Park Enterprise Sustainable Development Ecology Promotion Association. Sponsors included SIG Combibloc, PICC People's Insurance Company of China, Shanghai Rural Commercial Bank, Suzhou Branch of Bank of Beijing, and Sika China.
On the morning of June 19, Eric Usher, Head of UNEP FI, and Liu Yaolin, Chancellor of Duke Kunshan University, delivered opening remarks. Keynote speeches were given by Dechen Tsering, Director of the UNEP’s Asia and the Pacific Office; Zhao Yingmin, Member of the 14th National Committee of the Chinese People's Political Consultative Conference, President of the BRI International Green Development Coalition and Former Vice Minister and Member of the Leading Party Members Group of the Ministry of Ecology and Environment; Zhang Bei, Deputy Director of the Research Bureau of the People's Bank of China; Yuan Jun, President and Deputy Secretary of the Party Committee of Jiangsu Bank; and Ying Changming, Deputy Secretary of the Party Committee and Chairman of the Labor Union of Shanghai Rural Commercial Bank. The session was moderated by Guo Peiyuan, China Representative of UNEP FI and Chairman of SynTao Green Finance.
In the special address, Eric Usher noted that sustainable finance is gaining momentum in the Asia-Pacific region. China has systematically promoted the rapid development of green finance through policy innovation. This region has the talent, the capital, and the will to lead the global transition to a low-carbon, nature-positive, and inclusive economy. Facing an annual shortfall of $800 billion for climate finance, financial institutions should lead in driving this transformation. He called to act with urgency and unity, scaling up sustainable finance and facilitating a fair, inclusive, and sustainable economic growth.
Liu Yaolin highlighted the significance of hosting the roundtable, which provides a valuable platform for the university to engage in in-depth dialogue with global financial institutions, policymakers, and sustainable development experts. He stressed that universities should act as bridges in promoting sustainable development and cooperate with international organizations like UNEP to advance sustainable practices in APAC.
Dechen Tsering highlighted the dual challenges of climate risks and biodiversity loss in APAC, emphasizing the urgency of scaling up adaptive finance and building a resilient economy. She noted that by prioritizing green finance policymaking, integrating climate risk into financial regulation and fostering international cooperation, China’s role remains indispensable in shaping a resilient and inclusive sustainable financial ecosystem. UNEP FI contributes to mobilizing capital toward green investments by harnessing innovative financial tools. She advocated that governments, financial institutions, investors and civil society should work together to build an economy that prioritizes climate resilience, protects biodiversity and fosters sustainable prosperity.
Zhao Yingmin stated that apart from its own work, China has also played a more active part in global green and low-carbon transition. International cooperation in green finance will provide major support to global climate governance and sustainable development. He suggested that exchanges and cooperation in policies and standards on green finance could be strengthened to create standardized paradigms for cross-border green investment in the Asia-Pacific and even the world beyond. Synergy of technology and finance could be enhanced and financing channels, technology and experience for low-carbon transition in partner countries could be provided through innovative platforms, such as GIFP and UNEP FI. Exchanges and mutual learning between China's carbon market and carbon markets of partner countries could be explored to tap the potential of green finance and promote win-win cooperation among carbon markets.
Zhang Bei introduced the progress made by the People's Bank of China in formulating green finance policies, building standard systems, promoting sustainability disclosure, and advancing international exchanges and cooperation. She emphasized that action speaks louder than words in addressing global climate change and ecosystem degradation, encouraging to explore models like blended finance to attract more private capital and bridge funding gaps; promote compatibility and mutual recognition of sustainable finance standards to facilitate cross-border flow of green capital; and collaborate to strengthen climate and nature-related financial risk assessment and management to enhance the resilience of the financial system.
Yuan Jun noted that addressing climate change and ecological crises has become a global common mission, and the development of sustainable finance is indispensable. He stressed that China's financial strategy centered on the "Five Major Articles" is highly aligned with the UN Sustainable Development Goals and the Principles for Responsible Banking, both committed to internalizing and valuing economic externalities. As of now, 29 Chinese banks have signed the PRB, with total assets accounting for 30% of the global PRB signatories, demonstrating the resolve of China's financial sector.
Ying Changming elaborated that against the backdrop of global technological revolution and climate change, the key to achieving sustainable development lies in technology and innovation, with finance playing a catalytic role. Beyond their own sustainable practices, financial institutions should more importantly leverage their capital and resource allocation functions to guide enterprises in the value chain to implement sustainable practices.
On the morning of June 20, Chen Difei, Deputy Director of the Jiangsu Branch of the People's Bank of China, delivered an opening speech, stating that sustainable finance is the core driving force to address global ecological crises and achieve sustainable development. China has established a leading and innovative sustainable finance system, with practices in Jiangsu and other regions providing successful models. In the future, it is necessary to expand global collaboration, focusing on promoting the deep integration of "development" and "transition," the coordinated effort of "technology" and "institution", and the global linkage of "openness" and "cooperation," guiding financial resources to effectively finance green and low-carbon sectors and providing solid support for achieving global sustainable development goals.
The two-day event included 20 plenary sessions and parallel forums, where experts discussed topics such as "Supporting a just and inclusive transition in Asia Pacific," "Transition Finance: Opportunities and Challenges," " Advancing insurance for a nature-positive future in Asia Pacific," and "Embedding nature risks into financial decision-making".
Regulatory representatives from the central banks of China, India, and the Philippines discussed the regulatory development of sustainable finance in APAC. Enterprise representatives from Suzhou Industrial Park, such as Sika China and SIG Combibloc, shared in-sights on green financing and green production from the angle of corporates. And experts from over 60 institutions, including the Asian Development Bank, National Development Bank of Malaysia, Bank of China, Postal Savings Bank of China, Xiamen Bank, Qin Nong Bank, Bank of Beijing, MS&AD Insurance Group (Japan), China Pacific Insurance, Ping An Group, China Institute for Financial Inclusion at Renmin University of China, Australian Sustainable Finance Institute, COSCO Shipping Ports, Natural Resources Defense Council, and World Wide Fund for Nature, addressed at the conference.
The successful convening of the UNEP FI Regional Roundtable Asia Pacific in Suzhou has built an important platform for exchanges and cooperation in the region's sustainable finance development. The conference brought together a wide participation of regulatory bodies and private sectors, regional and global actors, and cross-industry representatives, fully demonstrating the power of multi-stakeholder collaboration.
