EC-Link Project at the Workshop on Finance for Low-Carbon Urban Infrastructure in China
The EC-Link Project was invited to attend the Workshop on Finance for Low-Carbon Urban Infrastructure in China, held in Beijing on December 11, 2019.
The workshop was organized by FELICITY (Financing for low-carbon investment – city advisory facility); the Project is funded by the International Climate Initiative (IKI) of the German Federal Ministry of Environment, Nature Conservation and Nuclear Safety (BMU and implemented by the GIZ in collaboration with the European Investment Bank (EIB). Felicity aims to make low-carbon urban infrastructure projects bankable and increase access to climate finance at the subnational level by providing technical assistance and advisory services, especially to projects developers and municipalities.
The Workshop saw the participation of European and Chinese stakeholders interested in supporting the development of municipal green finance in China and in supporting Chinese cities in implementing green urban projects. During the event, the participants shared multiple views in analyzing the sustainable development of green and sustainable cities, particularly in China, such as: the urgency to provide tailored services according to cities needs, the urgency to develop transport systems in line with cities’ requirements, and also the importance to sustain such important development with integrated green finance support.
Indeed, Green finance plays a fundamental role in sustaining Chinese ambitious urban development program; in upcoming years Chinese municipalities will develop more and more urban projects, they will need to move out from traditional finance solutions and to get closer to the many opportunities provided from green municipal finance.
EC-Link project was invited to provide a general outlook of green municipal finance sector in China and moreover, to show how practically it is supporting Chinese cities in such process. EC-Link Key Expert presented on-going cooperation in Qingdao. Currently, the Project is supporting Qingdao in developing two green municipal finance projects. The Qingdao Green Public Transportation system demonstration project is designed to be implemented in terms of developing low carbon and green traffic. The Comprehensive energy efficiency improvement project is designed to retrofit public buildings and residential buildings in Qingdao city, for reducing energy consumption and improving the energy efficiency for existing buildings.
EC-LINK Project is actively engaged in city-level cooperation and communication work in China and providing green finance assistance. It will continue its work in sustaining an effective dialogue between Chinese Municipalities and main Chinese and International Banks and Funds.
COP25: Meps Push For CO2 Neutrality By 2050
The EU should commit to net-zero CO2 emissions by 2050 at the UN Conference and step up its emissions’ reduction ambition for 2030, said the Environment Committee on Wednesday.
Ahead of the COP25 UN Climate Change Conference in Madrid in December, the Environment, Public Health and Food Safety Committee approved on Wednesday a resolution calling on the EU to submit its long-term strategy to reach climate neutrality at the latest by 2050 to the UN Convention on Climate Change as soon as possible. This would guarantee the EU maintains its world leadership in the fight against climate change.
They also highlighted the need for the EU to raise its ambition level for 2030 in order to reach the 2050 target. MEPs expect the European Green Deal announced by European Commission President-elect Ursula Von Der Leyen to include a target of 55% emissions reductions by 2030.
Chongqing Takes ASEAN Connectivity Lead in Western China
As the operating center of the China-Singapore demonstration initiative on strategic connectivity, southwest China's Chongqing Municipality is taking the regional lead in contributing to connectivity with ASEAN and promoting cooperation along the Belt and Road routes.
Evidence of this is that a total of 56 major projects were signed at this year's China-Singapore (Chongqing) Connectivity Initiative Financial Summit held Monday in the city, with an aggregate amount of 194.5 billion yuan (about $27.7 billion).
The projects include those involving the issuance of green bonds, debt financing, cross-border logistics, education and tourism.
More than 300 government officials, business people and scholars from China, Singapore and other ASEAN countries attended the summit and discussed topics including cross-border investment and financing, financial technology, inclusive finance, green finance, supply chain finance and logistics finance.
CITIES | 欧洲 EUROPE
CITIES | 中国 CHINA
EC-Link Project will participate and deliver a speech at the 14th International Conference on China Urban Water Conference in order to present to the audience its newly established IT Platform.