From August 15–17, 2019, the first meeting of the Green Investment Principles (GIP) for the Belt and Road Initiative (BRI) member institutions and the “Belt and Road – New Energy” International Forum took place in Beijing, China. Representatives from TDB participated in this landmark event, which hosted around 150 delegates, including representatives from the Chinese and UK governments, GIP member institutions, and international organizations.
Since its inception in November 2018, the GIP has brought together over 30 major global financial institutions. It has established working groups and a secretariat to develop recommendations and methodologies for implementing the principles.
Prominent figures attending the inaugural meeting included Mr. Chen Yulu, Vice Governor of the People’s Bank of China; Ms. Christina Scott, UK Ambassador to China; Dr. Ma Jun, Chair of China’s Green Finance Committee; and Sir Roger Gifford, Chair of the London Green Finance Initiative. Dr. Ma Jun emphasized that infrastructure development under the Belt and Road Initiative will play a significant role in the coming years, as infrastructure accounts for 70% of global carbon emissions. He highlighted the importance of integrating environmental considerations into BRI projects to mitigate their potential impact on climate and ecology.
The GIP aims to promote a green Belt and Road Initiative by incorporating environmental factors into projects and programs, supporting green investments, assessing environmental risks, limiting high-emission investments, and encouraging transparency and innovation in green financial products. With support from the Chinese and UK governments, the GIP is expected to become a pivotal platform for advancing green development.
Key GIP Working Groups and Responsibilities
During the meeting, Ms. Chen Lin, Coordinator of the Beijing Office, and Mr. James Boyle, Coordinator of the London Office, outlined the GIP’s roadmap and operational principles. Three working groups were formed to develop best practices, guidelines, and standards:
Working Group | Chair | Secretary |
| Environmental and Climate Risk Assessment | Industrial and Commercial Bank of China (ICBC) | (TBD) |
| Environmental and Climate Data Transparency | Crédit Agricole | Industrial Bank |
| Innovation in Green Financial Products | Standard Chartered Bank | Bank of China |
These working groups will finalize their plans within two months and begin implementing required tasks. TDB has joined the Environmental and Climate Risk Assessment and Innovation in Green Financial Products working groups as a member.