2025 Plenary Meeting of GIP Convened in Hong Kong
On 30 September 2025, the 2025 Annual Meeting of the Green Investment Principles (GIP) for the Belt and Road was successfully held at the Centennial Campus of The University of Hong Kong. Nearly 100 representatives from member institutions, observer organizations, and partners participated both online and in person. The meeting reviewed GIP’s work and key achievements over the past year, including activities led by the Secretariat, working groups, and regional offices. Participants exchanged experiences in green investment and financing practices and discussed the priority focus areas for GIP in the coming year.
In his welcoming remarks, Dr. Ma Jun, Co-Chair of the GIP Steering Committee, noted that since its launch in 2018, the GIP has continued to expand its membership, it now includes over 50 member institutions from China, the United Kingdom, Europe, and several emerging markets, collectively managing more than USD 40 trillion in assets. Dr. Ma highlighted the GIP’s achievements in promoting international cooperation, particularly in advancing green investment along the Belt and Road. He emphasized that GIP will continue to work closely with its partners to support the development and strengthening of green finance systems in developing countries, especially those participating in the Belt and Road Initiative.
Michael Sheren, newly appointed Co-Chair of the GIP Steering Committee and Senior Fellow at the University of Cambridge Institute for Sustainability Leadership, extended his congratulations to the meeting via video message. He noted that the GIP exemplifies the importance of global collaboration in driving green investment and sustainable development. Mr. Sheren expressed hope that member institutions would further strengthen exchanges and mutual learning in the coming year, fostering new progress across the GIP’s workstreams. Previously, he served as Senior Advisor at the Bank of England and co-chaired the G20 Green Finance Study Group together with Dr. Ma Jun.
Professor Wen Ming, Dean of the Faculty of Social Sciences at HKU, and Professor David Palmer, Professor of Sociology at HKU, also delivered remarks. Professor Wen introduced the Faculty and its Global Society and Sustainability Laboratory (GSSL), highlighting its research and practical engagement in sustainability and social innovation. She noted that hosting the GIP 2025 Annual Meeting at HKU aligns closely with the university’s mission to advance sustainability and social innovation.
Professor Palmer shared his team’s research on social risk investment and sustainable development, emphasizing the interdependence between environmental and social issues. He pointed out that for green investment projects to achieve long-term impact, it is essential to deeply understand and respect the social values and cultural contexts of local communities.
Cheng Lin, Head of the GIP Secretariat, presented a summary of the 2025 Annual Progress Report, offering a structured review of members’ achievements in areas such as green investment and financing, risk management, disclosure, and capacity building. The report noted that despite global political and market challenges, green finance continues to grow steadily. Growth in green loans and green bonds in China and other developing economies has injected fresh vitality into the global green finance landscape. Cheng highlighted that over the past year, the GIP has strengthened members’ green investment capabilities through capacity-building seminars, thematic workshops, and active follow-up with institutions to support the implementation of green investment practices- providing a strong base for the next phase of the GIP’s strategic work.
In terms of work progress and future plans, the Secretariat invited the GIP’s four working groups and three regional offices to present their progress over the past year, outlining their core objectives and work plans for 2026. These plans and implementation strategies are closely aligned with the key challenges and priority areas identified in the Annual Report.
In 2024/2025, the four working groups advanced initiatives on biodiversity conservation, information disclosure, sustainable finance innovation, and transition finance:
Working Group 1 focused on environmental risk assessment, co-chaired by ICBC and Swiss Re. In 2025, it published the "Research Report on Financing Support to Biodiversity Conservation along the Belt and Road" and, in collaboration with the regional offices, held its first joint in-person workshop, which further deepened research on climate risk and adaptation.
Working Group 2 concentrated on sustainable information disclosure, co-chaired by HSBC and Credit Agricole. It held a webinar on reporting and accounting of financed emissions.
Working Group 3 focused on green financial product innovation, co-chaired by Industrial Bank and Standard Chartered Bank. In 2025, it advanced research on blended finance by organizing workshops and summarizing best-practice cases to promote private capital participation in green investment projects.
Working Group 4 centered on transition finance, co-chaired by Bank of China and DBS Bank. In 2024, it held a webinar on climate transition investing that shared sectoral transition pathways and practices to support an orderly shift to low-carbon development.
Regarding the Regional Chapters:
The Africa Chapter continued its work on transition finance and capacity building. It has been supporting research on financial mechanisms for Africa’s low-carbon transition and green industrialization, with a report planned for release in late 2025.
The Central Asia Chapter promoted green bond issuance and information disclosure while expanding the GIP membership network; all four institutions that joined GIP in 2025 are from the Central Asia–Caspian region. It also published “Emissions Trading Systems and Voluntary Carbon Market: Global Overview and Prospects for Kazakhstan” in 2025.
The ASEAN Chapter conducted policy research and regional coordination, releasing "Green Finance Landscape in ASEAN: Trends, Challenges, and Opportunities" in April 2025.
Looking ahead to 2025/2026, Working Groups will continue to deepen research on biodiversity-related risk management, and explore sustainable finance opportunities arising from the development of carbon markets and further RMB internationalization, and innovate transition finance toolkits. Regional Chapters will focus on project implementation, capacity building, and cross-regional collaboration, expanding the GIP membership network to inject new momentum into global low-carbon development.
Working Groups and Regional Chapters both agreed that they would, under the Secretariat’s coordination, strengthen communication and collaboration, particularly on transition finance, carbon markets, and cross-border RMB financing, with the possibility of joint workshops to promote green transformation along the Belt and Road.
The Working Groups will continue to deepen research on biodiversity-related risk management, explore sustainable finance opportunities arising from the development of carbon markets and the further internationalization of the RMB, and innovate transition finance toolkits. The Regional Chapters will focus on project implementation, capacity building, and cross-regional collaboration, expanding the GIP membership network to inject new momentum into global low-carbon development.
Both the Working Groups and Regional Chapters agreed that, under the Secretariat’s coordination, they would strengthen communication and collaboration, particularly on transition finance, carbon markets, and cross-border RMB financing, with the possibility of joint workshops to promote green transformation along the Belt and Road.
During the meeting, the GIP Secretariat held an in-person signing ceremony for KazakhExport, the Export Credit Agency of Kazakhstan, officially welcoming it as the latest GIP member. This marked a milestone in membership expansion and international cooperation.
To recognize outstanding contributions in implementing the GIP and promoting sustainable investment and financial innovation, the GIP presented four awards: Best Implementation Award, Best Green Transaction Award, Best Innovation Award, and Outstanding Service Award. Following evaluation by the awards committee, the awardees were:
Best Implementation Award: HSBC, Crédit Agricole CIB, Deutsche Bank
Best Green Transaction Award: ICBC, Standard Chartered Bank, Development Bank of Kazakhstan
Best Innovation Award: Société Générale, Industrial Bank Co., Ltd., China Re Group
Outstanding Service Award: Silk Road Fund, Swiss Re, Bank of Africa
In his closing remarks, Dr. Ma Jun commended the GIP’s significant progress in promoting green investment, strengthening capacity building, and fostering international cooperation. Looking ahead, he emphasized that the GIP will continue to advance policy research and practical innovation, support financial institutions in enhancing their green transition capabilities, and facilitate the sharing of green transformation experiences and achievements among developing countries.