<img src='https://news.cgtn.com/news/2024-09-07/Financial-leaders-call-for-faster-energy-transition-at-Bund-Summit-1wHHvTnaK08/img/e50692791e844d0981f434cdf42b382f/e50692791e844d0981f434cdf42b382f.jpeg' alt='CGTN anchor Michael Wang moderates a roundtable discussion at the 2024 Bund Summit in Shanghai. /China Finance 40 Forum'
Global financial leaders convened at the sixth Bund Summit in Shanghai, a global financial hub, to discuss ways to tackle urgent challenges amid heightened uncertainty, focusing on the pivotal role of finance in addressing climate change and driving energy transition.
As a strategic media partner, CGTN hosted a roundtable discussion moderated by anchor Michael Wang on the next steps in energy transition.
Former French Finance Minister Edmond Alphandery emphasized the need for stronger implementation of the Paris Agreement. He called for a global consensus on carbon pricing and urged international organizations such as the World Trade Organization, to collaborate in addressing carbon pricing challenges.
Eddy Wong, CEO of Amundi Asia, highlighted the significant gap between current energy transition investment and the $3 trillion to $5 trillion needed to meet climate targets. He called for increased investment in the coming years.
Ning Gaoning, former chairman of Sinochem Holdings, underscored China’s leading role in climate action and its commitment to sharing innovative technologies in such fields as electric vehicles, solar and nuclear energy with the world.
According to the International Renewable Energy Agency, China contributed more than half of the global increase in renewable energy capacity in 2023.
Liu Shijin, former vice-minister of the Development Research Center of the State Council, China’s Cabinet, pointed out the dramatic cost reductions in solar and wind energy over the past decade, which have made the resources more competitive than coal.
He emphasized the importance of continued reform, opening-up efforts and development to address challenges and promote growth of the renewable energy sector.
The three-day Bund Summit has been jointly organized by the China Finance 40 Forum and the China Center for International Economic Exchanges.
