T2D Co-Chairs address next phase of cooperation during COP26; Working Groups start planning for 2022

On 14 March 2024, more than 40 Chinese and German experts, practitioners, and policy makers discussed technical approaches on how to make finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. The high-level participants included financial regulators, commercial and development banks, rating agencies, academia, global initiatives and think tanks

On 2 December 2023, the side event entitled “From a Germany-China Track 2 Dialogue (T2D) Perspective: China’s and Germany’s Contribution to the Acceleration of the Renewable Energy Expansion in light of the global stocktake” took place at the German Pavilion at COP 28. Zhao Yingmin, Vice Minister of the Chinese Ministry of Ecology and Environment, and Jennifer Morgan, State Secretary of the German Foreign Ministry and Special Envoy for International Climate Action, delivered speeches. This event was jointly hosted by the German Environment Agency (UBA) and the Chinese National Center for Climate Change Strategy and International Cooperation (NCSC), and supported by GIZ.

In order to close the significant financing gaps to achieve the goals of the Paris Agreement and to promote sustainability in the financial sector by integrating ESG factors into investment decision-making, we recognise the urgent need for leading financial professionals to strengthen their expertise on sustainable finance. International expert exchange can play an important role in this regard. To this end, a delegation visit to Germany and Norway was organised by the GIZ-implemented IKI project Sino-German Cooperation on Climate Change – Climate Partnership from 5 to 11 November 2023, which facilitated Sino-European technical exchange of financial market professionals and academia.