The Green Investment Principles (GIP) for the Belt and Road today welcomed the addition of two new members, Swiss RE and China RE, at the 2021 Annual Conference of Boao Forum for Asia (BFA). The announcement was made by Dr. Ma Jun, Co-chair of the GIP Steering Committee and Chairman of the China Green Finance Committee, at the BFA Roundtable on Financing Carbon Neutrality.

“With China RE and Swiss RE, the number of GIP signatories now stands at 39, whose overall assets mount to over USD 48 trillion worldwide. Notably, Swiss RE will also become a co-chair of the GIP Working Group,” said Dr. Ma.

 Dr. Ma Jun, Chairman of the China Green Finance Committee and Co-chair of the GIP Steering Committee (Photo credit: Boao Forum for Asia)

“To further support global efforts to advance green financing and decarbonization efforts, Swiss Re is honored to become the first foreign re/insurer to endorse the core principles of GIP and to Co-Chair the Working Group on Environmental and Climate Risk Assessment. By sharing our broad and long-standing experience on sustainability topics, Swiss Re has the will and ability to push for more ambitious green initiatives along the Belt and Road, and we believe that green finance is not only of great environmental and social significance, but also implying great business opportunities ahead,” said CHEN Donghui, President of Swiss Re China.

CHEN Donghui, President of Swiss Re China (Photo credit: Boao Forum for Asia)

In a video address at the opening ceremony of this year’s BFA, Chinese President Xi Jinping emphasized that China will build closer green partnerships under the BRI through multilateral platforms including the GIP, for the green development of the Belt and Road.

Governor Yi Gang from the People’s Bank of China highlighted in his keynote speech at the BFA the central bank’s efforts developing green finance in China with international cooperation an essential aspect. Governor Yi reaffirmed the priority of further implementing the GIP as well as building capacity in green finance along the Belt and Road.

Governor Yi Gang of People's Bank of China delivering his keynote speech through video (Photo credit: Boao Forum for Asia)

Senior representatives of GIP signatories also attended the roundtable, including those from China Development Bank, Agricultural Development Bank of China, ICBC, Standard Chartered Bank, Habib Bank, Swiss RE, and China RE.