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On June 3, 2022, the International Platform for Sustainable Finance (IPSF), co-sponsored by China, the EU and other economies, published the Common Ground Taxonomy Table (hereinafter referred to as the updated version of CGT). CECEP Consulting Co., Ltd., affiliated to the research center, participated in the update of the Table as an expert institution.
The updated version of CGT will bring a unified standard to the world green finance, and play an important role in the development of the green Belt and Road Initiative of China. The Chinese technical working group of CGT was established in July 2020. CECEP Consulting sent experts to work as core members of the working group. It takes two years before the updated version was published, indicating the green prospects are getting brighter.
The updated version of CGT adds 17 economic activities that have been assessed and confirmed by experts from China and the EU, and currently includes 72 economic activities that have been recognized by the initial version as having a significant contribution to climate change mitigation. The new content includes economic activities of great significance to the green transformation of the manufacturing and building sectors.
For the next step, CECEP Consulting will actively explore ways to improve the compatibility of international sustainable financial standards, actively play the role of the latest topic “China-EU Sustainable Finance Common Standard for Belt and Road Investment and Financing Project Applicability Case Analysis", and conduct in-depth research on possible problems that may be encountered in the practical application of CGT in typical Belt and Road countries and put forward solutions, and speak on behalf of developing countries so as to continuously improve CGT.
Those who keep up their efforts often achieve their goal, and those who keep on walking often reach their destination. CECEP Consulting will take the opportunity of participating in the preparation of the updated version of CGT, and take green financial business as the fulcrum, strive to build modern and harmonious coexistence of man and nature, actively respond to climate change, and provide developing countries with knowledge sharing, strategic guidance and technical support within its capacity, so that green becomes the background color of the joint development of the Belt and Road.
