China News Service, March 25. The 2024 Annual Meeting of the China Development Forum will be held on March 24-25, 2024. The "Carbon Neutrality and Global Climate Governance Symposium" was held on the afternoon of March 24. Professor Nicholas Stern of the London School of Economics and Political Science said in his speech in the "Panel Discussion Three" session: We must vigorously develop green investment and adopt multiple methods. various forms of financing, strengthen cooperation between multilateral financial institutions and the private sector, and reduce financing costs in emerging markets, thereby better achieving climate change goals.
Nicholas Stern pointed out that the current global climate governance is changing in three aspects.
At the institutional level, since the 20th United Nations Climate Change Conference (COP20), developing countries have played an increasing role in setting the agenda, and the focus of discussions has expanded from the United Nations Framework Convention on Climate Change to the entire economy. transformation.
At a conceptual level, the relationship between climate change action and development has shifted from being in competition and conflict with one another to being both in parallel. Action on climate change can stimulate innovation, increase productivity, transform cities and stimulate investment, thereby driving economic growth.
At the practical level, countries need to clarify strategic directions, optimize policies, improve capital market information disclosure, and exert the synergistic effect of pollution reduction and carbon reduction to cope with market failures caused by insufficient investment. Carbon taxes and carbon markets alone cannot solve the problem of market failures. .
Stern suggested that we should vigorously develop green investment, adopt various forms of financing, strengthen cooperation between multilateral financial institutions and the private sector, and reduce financing costs in emerging markets, so as to better achieve climate change goals.