China will be a Game Changer in Climate Change issues, according to Amundi Asset Management, the leading European asset manager. – If last year was the year of COP21 and Paris climate meeting, this year it will be China, China and China. It is also about the Green Bonds and cap & trade, said Amundi deputy director Mr. Frederic Samama to ComteamPUB+ on Tuesday in Stockholm.
– China will be the leading country in COP21 and their massive investment plans in renewables will lead the way to greener economy. China is also the leading country in Green Bonds, their market share is about 50 percent and their plans to make nation wide cap and trade in emissions trading will be important. At the moment it seems that the Chinese cap and trade would be in place in 2017, he said.
China renewables investments were 89,5 billion dollars last year
China led in renewables last year with investments of $89.5 billion, accounting for almost one out of every three dollars spent on clean energy in the world, according to Bloomberg New Energy Finance released in January 2016.
The Chinese government aims to get 20 percent of its energy from renewables and nuclear power by 2030 as a means to help cut carbon emissions.
Green Finance Task Force to boost the Green Finance
China has the potential to become one of the world leaders in Green Finance and Green Bonds. The country has established a Task Force for Green Finance in order to boost the integration of sustainable development of China´s financial system.
The context of this prioritizing of greening China`s financial system is an important part of China`s roadmap to “eco-civilization”, which marks a major shift in its economic strategy towards a focus on greening the economy and broader aspects of China’s development.
According to the Bank of China, the country will need at least 320 billion US dollars per year to meet the environmental targets. The aim is to align the public and private sector in these projects.
Carbon risk exposure to companies and compensations
According to Amundi investors are now ready to undertake meaningful corporate governance actions on climate change. – Awareness of carbon risk exposure of individual companies is greater than ever, since it has become easier and easier to measure GHG emissions tied with a company’s operations, Amundi says.
Amundi, the European leader, ranks in the Top 10 worldwide, with assets under management close to €1 000 billion worldwide. The company is listed in the Paris Stock Exchange.
Amundi has become a leading European player in asset management, recognised for:
Product & performance and transparency, Quality of client relationships based on a long-term advisory approach, Efficiency in its organisation and teams’ promise to serving its clients and Commitments to sustainable development and socially responsible investment policies.
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