Copyright by GIZ
10 September 2019, Beijing – At the international seminar ‘Financing a climate-resilient future – Promoting a sustainable banking sector in line with the Paris Agreement’ organised by Greenovation Hub, representatives from international multilateral development finance institutions, financial regulators and governmental bodies exchanged the latest research findings and best practices for promoting renewable energy development in Belt and Road Initiative countries. They also addressed research findings and best practices for promoting a low-carbon transition and exploring effective climate finance policy options. Public and private financial flows are not yet adequately allocated to climate-related areas as required to meet the commitments of the Paris Agreement. Thus, financial flows urgently need to be shifted towards more sustainable, inclusive and climate- resilient areas at strategic, institutional, policy and practical levels. Dr Alex Fisher, Director of Sino-German Cooperation on Climate Change, Environment and Urban Development, presented GIZ’s experience with the implementation of International Climate Initiative (IKI) projects in China.