Working Group I. Environmental and Climate Risk Assessment

Co-chair: ICBC, Swiss RE

Secretary: PwC

GIP Secretariat Liaison: LIU Zhilu (liuzl@ifs.net.cn)

The scale of investments involved in the Belt & Road underpins the importance of measuring environmental and climate risks in the financial system, whereas some parts of the region are already faced with serious environmental and climate concerns. Infrastructure projects, in particular, where a sizable portion of the BRI investments flows into, are likely to have significant impact on the environment and climate.

As part of the ESG due diligence work, some institutions, including financial and non-financial firms, have measured the environmental and climate impact of their projects, by estimating indicators such as CO2, SO2, and NOX emissions, as well as energy consumption and water usage. This working group will adapt existing methodologies and aim to develop user friendly tools (such as carbon calculator on the web) for new projects (such as power, transportation, and some manufacturing projects) that have significant environmental and climate impact.