MIECF | Speaker praises Portugal, Luxembourg experience with green finance

The president of the Sichuan Province Environmental Science Association has said that Luxembourg and Portugal have many institutional advantages to apply in the development of green finance, and that their shared experience will be helpful in the development of a similar field in the Greater Bay Area.

The remarks came as part of the Green Forum of the 2019 MIECF, the “Pan-Pearl River Delta Region Session” of which was held on Friday. Jiang Xiaoting, President of the Sichuan Province Environmental Science Association, shared the findings of the mission of the “Pan- Pearl River Delta Region Delegation to Portugal and Luxembourg”. According to him, this exchange experience has inspired members in the development of green finance.

In Jiang’s opinion, Portugal and Luxembourg’s institutional advantages include the establishment of professional banks with policy objectives, the establishment of reasonable regulations on financing risks, the establishment of innovative financial platforms, and the creation of financial products to support environmental protection. In addition, the exchange made him realize that the mature development of green finance depends on the clear environmental awareness of Luxembourg and Portuguese enterprises, and that the two countries have mixed institutional advantages.

For example, he said, some of the local finance-related institutions are composed of the government and associations, where the government plays a goal-oriented role, while the associations are responsible for maintaining market sensitivity.

Huang Binhui, Deputy Secretary General of the China Association of Environmental Protection Industry, discussed the development of China’s environmental protection industry.

He mentioned the market dynamics in different fields of pollution prevention and control in China and the new problems encountered, such as the excess supply of middle and low-end products and the insufficient supply of high-end products in the environmental protection industry, as well as the problem of price competition.

Huang believes that there are still many opportunities for China’s environmental protection industry. In particular, the country has clearly defined the strategic orientation for strengthening the construction of a ecological civilization, which will also bring investment opportunities.

In the Pan-Pearl River Delta Region Eco-Corporate Pioneers Roundtable, different environmental protection enterprises in the Pan-Pearl River Delta Region shared their opinions and respectively introduced their business scope and industrial technology. JZ

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