On July 10, 2024, SPM’s Dr. Dong Guo and Dr. Satyajit Bose, along with the Shanghai Academy of International Financial Research, hosted the seminar "How Finance Can Aid Sustainable Development." The event brought together experts, scholars, finance professionals, business leaders, and media journalists to discuss the vital role of finance in promoting sustainable development. The seminar featured a book launch, a lecture by Dr. Bose, and a roundtable with leading researchers from across the Chinese environmental sector.
The discourse on sustainable finance has been rapidly increasing in Chinese academia, and the public and private sectors, in tandem with the growing awareness of sustainability among the general population. Experts believe the promotion of green finance can serve as a tool to help companies financially through an increased issuance of bonds and secured credit, all ‘green,’ thereby enhancing their sustainable development. Furthermore, the Chinese carbon sequestration market has been experiencing tremendous growth, evolving from unstable carbon prices to the current rate of 100 yuan per ton, marking significant progress in China's green financial market. Another emerging trend is the attitude towards ESG governance, with more and more important voices arguing that it should not solely focus on achieving carbon neutrality, but should be seen as crucial for companies to foster their development.
During the seminar, Dr. Guo and Dr. Bose presented the Chinese translation of their book, "The Financial Ecosystem: The Role of Finance in Achieving Sustainability," co-authored with Anne Simpson. This translation is especially unique, as it was done collaboratively by Dr. Guo and Professor Wenjie Ma, Dean of the Shanghai Academy of International Financial Research.
