On December 12, local time, the side event of "Green Finance and Climate Response: The Role and Opportunities of China's Banking Industry" was held at the China Corner of the 5th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). During the side event, the "United Arab Emirates Corporate Sustainability Report" jointly completed by the research team of Bank of China Dubai Branch and UAE University was released. The report was released by Pan Xinyuan, President of Bank of China Dubai Branch, and Mohammed al-Madi, Dean of the Faculty of Business and Economics of the UAE University.

According to reports, the report is the first white paper on "Corporate Sustainability Report" in the United Arab Emirates, and it is also the first in-depth cooperation between Chinese-funded financial institutions in UAE and universities in the host country.

Pan Xinyuan said that the United Arab Emirates, the host country of COP28, is the first Middle Eastern country to put forward the goal of "carbon neutrality", and has become a regional leader in economic diversification and low-carbon transformation and development through the implementation of a series of visionary plans. In the hot land of the UAE and the Middle East, enterprises, builders and financial institutions from China have continuously contributed sweat, wisdom and strength to a large number of benchmark green energy and infrastructure projects in the process of sustainable development of regional countries, and in the booming field of green finance, becoming a model of co-construction and development.

Pan Xinyuan introduced that sustainable development will inevitably be different in different countries. The joint research with the long-term ESG and sustainable development research team of Emirates University, the highest university in the UAE, focuses on the real economy and goes deep into enterprises, and for the first time comprehensively sorts, summarizes and learns from the sustainable development practices, achievements and experiences of enterprises in multiple industries in the UAE, and explores the sustainable development methodology and roadmap through international comparison.

Pan Xinyuan said that the survey used artificial intelligence technology to explore the ecological innovation and ESG governance practices of various industries, highlighting the important role and broad prospects of technology and innovation in the process of sustainable development.

Pan Xinyuan said that in the future, he will continue to deepen cooperation with research institutions such as the United Arab Emirates University, including new progress and breakthroughs in cultivating high-quality professionals, strengthening the exchange and mutual learning of Chinese and Arab practices and experiences, promoting the construction of a system of rules and standards that conform to the world conditions and suit the national conditions, and innovating the path of sustainable development.

Pan Xinyuan said that Bank of China and UAE University sincerely invite and warmly call on more enterprises, government agencies, academic groups, including Chinese-funded institutions to participate in cooperation, work together to promote the green transformation and development of the economy and society, and jointly write a new chapter in the green co-construction and ecological civilization construction of China and the Belt and Road Initiative.

The side event was hosted by the Policy Research Center for Environment and Economy of the Ministry of Ecology and Environment, the China Banking Association and China News Network, and co-organized by Bank of China Dubai Branch. (He Xianjin, Peng Dawei, production, Liu Shijiong)

Editor in charge: [Fu Zihao]