On the afternoon of November 9th, the 15th Caixin Summit ESG Session and China ESG 30 Forum 2024 were held in Beijing, with the theme of "Finding Anchors of Value".
The annual meeting delved into the topic of the times and discussed the role that ESG plays in addressing the challenges of the times. At the same time, the conference focuses on key economic scenarios such as the long-term development of the capital market, green and low-carbon transformation, enterprise going global, technology for good, and the cultivation of new quality productivity, and deeply explores the path of ESG value creation.
In the era of change, it is necessary to anchor values and work steadily in order to achieve long-term development.
Conference Highlights: Four Theme Discussions
ESG investment in deepwater areas: perseverance and breakthroughs
With the deepening of global green transformation, changes in overseas markets, and continuous promotion of domestic and foreign regulations, ESG investment has entered the 2.0 era.
After going through market and regulatory tests, ESG investment is facing issues such as its own positioning, building reliable substantive logic and methodology, and technological assistance methods.
At the same time, the Chinese market needs to further strengthen the ecological construction of incentive and restraint mechanisms, responsible management systems, information disclosure, product classification standards, corporate governance, and protection of small and medium-sized investors, in order to promote the high-quality development and long-term value creation of the capital market.
Building an Economic 'New Force'
The Chinese economy is at a critical stage of transitioning between new and old driving forces.
In the face of the challenges of green transformation, it is necessary to maintain composure and choose appropriate policy tools to further promote the development of new quality productive forces such as green productivity, while establishing a fair transformation mechanism.
We should actively respond to the problem of "internal competition" in the new energy industry; In the face of changes in constraints such as population and natural capital, it is necessary to explore new types of production relations and business models that are co built, win-win, and shared, in order to further unleash the value of factors; In the face of the global supply chain restructuring triggered by the new globalization, it is necessary to coordinate the relationships of overseas stakeholders, open up a "new sea", and establish new links with the world.
The Way of Good Governance in Artificial Intelligence
At present, AI governance and development have reached a critical moment, and generative AI has brought unprecedented challenges. Among them, the balance between development and governance is particularly prominent, and the development speed of artificial intelligence technology far exceeds the speed of regulatory system formulation, making artificial intelligence regulation extremely complex.
With the continuous enhancement of artificial intelligence capabilities, it is necessary to clarify the role of humans in cooperation with artificial intelligence and implement control and governance measures for artificial intelligence. At the same time, as the international landscape changes, it is necessary to strengthen communication and cooperation between countries in the field of artificial intelligence governance.
Next steps for carbon pricing and carbon trading
Carbon pricing and trading play a crucial role in reducing emissions and promoting green innovation. In 2024, China's voluntary carbon market will restart and the national carbon market will expand. Currently, there are some issues with the carbon pricing and trading mechanisms in the Chinese market that require further improvement.
Enterprises and financial institutions should adapt to the advent of the carbon management era and actively promote the development of carbon finance. At the same time, we need to collaborate on a global carbon pricing mechanism within a multilateral framework to promote the development of the international carbon market.
2024 China ESG Development White Paper Released
The white paper points out that ESG and sustainable development concepts have been integrated into multi country strategies, forming a multi-level governance and policy system.
The EU has introduced comprehensive policies in various fields such as finance, industry, and supply chain. Driven by the new development concept, high-quality development strategy, and "dual carbon" goals, China is accelerating the integration of ESG with the economy and society. Central top-level design, ministerial policy deployment, local implementation follow-up and innovation are promoting the formation of social consensus, and environmental and social externalities are being priced into the economic system.
With the introduction of the ISSB guidelines, there has been significant progress in global sustainable information disclosure. National and regional construction continues to advance, and emerging markets actively participate. Improved information disclosure has laid a solid foundation for ESG investment and practice.
The richness of practice has expanded the connotation and vitality of ESG. For financial investment institutions and enterprises, ESG value goes beyond narrow risk management and is a strategic thinking coordinate, business innovation direction, and methodology for enterprises to go global.
From the global to regional and national levels, a comprehensive system is reshaping the global economic operation mode. Although there are phenomena such as the "retreat" of the US market and the "uneven distribution of hot and cold", green and sustainable transformation is an opportunity. China and Chinese enterprises should seize the opportunity, manage transformation, and move towards the goal.
As the world's second-largest economy, China's efforts in sustainable development are of great significance. China's practice of ESG is not only a requirement for its own modernization, but also a powerful contribution to global sustainable development. Let's pay attention to and work together to promote China's sustainable development practices!