Director General Wang Yao speaks at ESG Investment Forum

The First ESG Investing Forum for Asset Management in China was held in Beijing to promote the implementation of ESG investment concepts and practices. Experts from relevant government departments, regulatory agencies, academic institutions and financial institutions participated in the event and exchanged views during the forum. Professor Yao Wang, Director General of the International Institute of Green Finance was invited to attend and give a keynote speech entitled "Exploration of Key Issues in the Development of the ESG Asset Management Industry in China".

Chun Zhang, Deputy Director of National Development and Reform Commission, Jin Hui, mayor of Beijing Dongcheng District Committee, Li Minji, Secretary of the Party Committee and Chairman of Huaxia Bank, attended the forum and delivered opening speech.

Regulatory authorities and industry associations in China have successively introduced a series of policies to support and guide asset management institutions to practice the ESG concepts which is booming in China. However, at the same time, China's ESG development also faces many challenges.

Professor Wang pointed out several factors that hinder further development of ESG concepts in China such as an incomplete ESG policy measurements and lack of local ESG evaluation system. Meanwhile, she stressed that the development of ESG in China requires the concerted action of various stakeholders.

She said, IIGF has now independently developed a localized ESG evaluation system, which comprehensively measures the ESG levels of enterprise from qualitative and quantitative indicators of environmental protection, social responsibility, and corporate governance in three dimensions. In addition, IIGF has established a leading domestic ESG database and has one of the only global ESG rating data of Chinese bond issuer, which covers more than 4,000 Chinese companies.

Together with the forum, three other panels were held at the same time. Insights focused on ESG investment practices and prospects, opportunities of asset management industry in China and the differences between domestic and foreign ESG investment development.

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