More than 150 delegates from 40 international banks, investment firms and international organisations gathered in Beijing. The gathering was at the First Plenary Meeting of the Principle of Ecological Investment of the Belt and Route of the Silk (GIP). This was and important step to promote investments in environmental responsibility under the Belt and Road Initiative.
The Green Finance Committee of China and the City of London launched the initiative in November 2018. The GIP is a series of principles dedicated to promoting eco-conscious investments in the Belt and Silk Road region. Todays meeting of the GIP is one of the first with members introducing ways to implement the principles.
Dr Ma Jun is the chairman of the Green Finance Committee of China. Dr Ma Jun said: “In the coming decades, most of the infrastructure investment in the world will take place in the Belt and Silk Road region, which will have a profound impact on the climate and the environment…The goal of the GIP is to encourage and help signatories to better integrate environmental considerations in the decision-making process and implementation of their investments in the region.”
A Secretariat of the GIP has been established, with offices based in both Beijing and London, in order to improve the ecological investment capabilities of its members. Additionally, the GIP will create an ecological project database which will function as an information platform between lenders and project owners.
Chen Yulu is the deputy governor of the People’s Bank of China (PBC). Chen Yulu said:”The GIP will benefit countries along the Silk Belt and Road by facilitating green investment, minimizing the negative impact of new investments and creating strong business opportunities.”
“I look forward to seeing the United Kingdom institutions working with Chinese and international partners to share best practices and implement the principles in a firm manner” said Christina Scott the head of business at the British Embassy in Beijing.