Introduction

On April 3, 2023, the Green Finance Working Group of the Belt and Road Energy Partnership (BREP) held a closed-door seminar in a hybrid mode, with the focus on enhancing international energy cooperation and investment along the Belt and Road. Under the guidance of the International Cooperation Department of the National Energy Administration of China (NEA), the seminar was co-organized by the Export-Import Bank of China (CEXIM) and the Institute of Finance and Sustainability (IFS), and chaired by Zhang Fang, Deputy Director of the ESG Investment Research Center of the IFS, with the offline event held at CHEXIM.

Opening speech

An Fengquan, Deputy Director General of the International Cooperation Department, NEA China, Lin Gang, General Manager of the Client and Credit Management Department of the CEXIM, and Bai Yunwen, Vice President of the IFS, delivered an opening speech respectively.

An Fengquan pointed out that the Belt and Road Initiative (BRI), proposed a decade ago, has yielded fruitful results, with “green” becoming an important feature of the BRI. He emphasized that energy cooperation is a crucial component of the BRI and called for investment and financing support for green energy projects. He also stressed the need to establish an open, market-oriented, and green investment and financing cooperation system to promote win-win cooperation and facilitate high-quality development of both energy and green finance along the Belt and Road.

Lin Gang said that the high-quality construction of the BRI has transformed from concept to action and made remarkable achievements. The Belt and Road is a path to not only economic prosperity but also green development. The CEXIM will continue to improve its financial services, drive green finance innovation while considering the unique resource endowment characteristics of participating countries, and provide more high-quality financial services for the green construction of the BRI, with a particular emphasis on green energy cooperation.

Bai Yunwen said that the green transition of the energy system is an important measure of global governance. Green finance and green energy cooperation will form a mutually beneficial development pattern. As a professional green finance think tank, the IFS will be committed to addressing frontier problems and challenging issues, fostering innovation, and collaborating with the working group and other organizations to advance the green, low-carbon, and sustainable development of the economy and society.

Experts’ insights

Insights on topics including “The Middle East Situation and the Future Direction of the BRI”, “BRI Energy Transition and Sustainable Development”, “BRI Corporate Green Energy Cooperation and Practice”, and “BRI Financial Support for Green Energy Investment and Financing Opportunities, Challenges, and Practices” were shared by the experts as follows, 

• Wu Yihong, Former Chief of Middle East Bureau of Xinhua News Agency

• Wang Shunchao, Assistant Director of the International Business Department, China Electric Power Planning and Engineering Institute (EPPEI)

• Miao Hong, Sustainable Investment Program Director of World Resources Institute (WRI)

• Zhang Peng, Head of the Energy and Power Department of Great Wall Securities

• Gu Yu, Vice President of WeView

• Yang Yan, Director of Overseas Investment Environment Department, Economics & Technology Research Institute (ETRI), China National Petroleum Corporation (CNPC)

• Li Jianfeng, General Manager Assistant of CGGC International

• Li Peng, General Manager of Trina Solar Asia-Pacific Business Unit

• Zhu Xinbo, Vice President of Operation and Project Finance of Canadian Solar

• Huang Zhiwei, Director of Corporate Business of Global Financing and Advisory Department, China Division of Societe Generale

• Lu Yang, Executive Director within the Clean Tech Industry Coverage Team at Standard Chartered

• Zou Jianglei, Head of Shanghai Branch, First Abu Dhabi Bank (FAB).

Summary

Li Xiaojun, Deputy General Manager of the Client and Credit Management Department of the CEXIM, made a summary.

He noted that facing the opportunities and challenges in BRI green energy cooperation, the CEXIM will resolutely practice the decisions of the Party Central Committee and the State Council, fully implement the BRI, and actively promote the steady implementation of the BRI green energy cooperation projects by introducing policies, formulating plans and providing financial services. At the same time, as the leading unit of the Green Finance Working Group, the CEXIM will continue to strengthen cooperation with various units under the guidance of the NEA China, actively accomplish tasks of the working group, and fuel quality development and new progress in BRI. Finally, Li Xiaojun hoped that through this seminar, all parties can gather consensus on cooperation, create synergy for development, and work together to bring the BRI green energy cooperation to a higher level.

This closed-door meeting coincided with the 10th anniversary of the BRI and was widely attended by from market regulatory agencies and financial institutions. The participating institutions shared their practices and thoughts on the investment and financing in the renewable energy industry and expressed high expectations for further leveraging the advantages of renewable energy enterprises, financial institutions, and other stakeholders to jointly promote the green energy development along the Belt and Road. The working group will resolve to make more breakthroughs in green energy cooperation, as well as investment and financing along the Belt and Road.