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[2022-July-14] WG2: Application of the Common Ground Taxonomy for Sustainable Finance in Belt and Road regions

On July 14th, the GIP organized the latest capacity building event on “New Common Ground Taxonomy for the Belt and Road Region”, in collaboration with the Belt and Road Bankers Roundtable (BRBR), which was co-hosted by Credit Agricole CIB and Industrial Bank. The webinar is the first online capacity building event of the GIP Working Group on Environmental Information Disclosure for the year and has attracted around 150 participants. 

In his opening speech, Dr. MA Jun, Director of the Green Finance Committee of China Society for Finance and Banking, Co-Chair of GIP Steering Committee and Co-Chair of IPSF Classification working group, introduced CGT's preparing background and potential application scenarios.

Ms. YIN Hong, Vice president of the Modern Finance Research Institute of ICBC, pointed out the significance of the Common Ground Taxonomy. Antoine ROSE, Director of Sustainable Development Banking for Asia Pacific at Crédit Agricole Bank, and CHEN Yaqin, Assistant General Manager of the Green Finance Department of Industrial Bank, respectively introduced the green bonds recently issued or underwritten based on the Common Ground Taxonomy.

Dr. WANG Bolu, a senior researcher at the National Institute of Finance, Tsinghua University, elaborated on the technical highlights and applications of the Common Ground Taxonomy, including six control scenarios of the China-Europe Green Finance Classification Catalogue.

Later, five experts from Europe and Asia had a discussion on the application of the Common Ground Taxonomy for green financing along the Belt and Road regions. Experts unanimously affirmed the significance of the Common Ground Taxonomy in promoting mutual recognition of different green standards and guiding investment and financing practices. From the perspective of investors, the Common Ground Taxonomy helps evaluate the "green degree" of assets. The existing cases show that sound financial performance and positive environmental impact can be achieved at the same time. From the perspective of issuers, the Common Ground Taxonomy can provide  enterprises reference to develop the internal green finance framework and carry out business approval. The economic activities defined by the Common Ground Taxonomy are in line with the activities supported by green financial instruments in the markets.

At the same time, the experts pointed out that the application of the Common Ground Taxonomy also needs to be guaranteed by other mechanisms, including improving the disclosure quality of proceeds use and environmental impact so as to enhance credibility and reduce risks.


Co-hosted by Crédit Agricole CIB, China Industrial Bank, Belt and Road Bankers Roundtable

Time: 15:30-17:00 Beijing Time (GMT+8), July 14, 2022

Location: Zoom meeting

Language: English & Chinese (Simultaneous translation will be provided.)

(All time denoted in China Standard Time).



Opening Remarks

-       Dr MA Jun, Co-chair of the GIP Steering Committee, Chairman of China Green Finance Committee

-       Antoine Rose, Head of Sustainable Banking APAC and Middle East, Crédit Agricole CIB

-       CHEN Yaqin, China Industrial Bank

-      Yin Hong, Deputy Head of Modern Finance Research Institute at ICBC


Presentation on the Common Ground Taxonomy

-       Dr. WANG Bolu,  Senior Researcher, Tsinghua National Institute of Financial Research


Panel Discussion: Applications and Implications of CGT for green financing in the Belt and Road region

In this session, experts from different economies and sectors will share their insights about the potential application of the CGT in financing activities, as well as challenges and opportunities associated with it.

Moderator: Carmen Tsang, Head of Sustainable Banking Greater China, Crédit Agricole CIB


-       Laetitia Hamon, Head of Sustainble Finance, Luxumberg Stock Exchange

-       HUO Rongrong, Executive Director, Ninety One

-       Muhammaad Imtiaz Saithna, Head of Project Finance and Infrasctructure Advisory, Habib Bank

-       Gabriel Yu, Porfolio Manager, Ping An

-       Nobert Ling, ESG Credit Portofolio Manager, Invesco


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