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海外之声丨世界银行总裁:ESG政策框架对应对气候风险至关重要

戴维·马尔帕斯 IMI财经观察 2023-03-28

导读

当前全球可持续发展机遇与挑战并存。俄乌冲突引发欧盟能源线路调整,发展中国家煤炭、柴油和重质燃料用量增加。各国增加燃油补贴加剧了财政赤字,使得能源效率提升与清洁能源投资失去动力,影响了全球气候目标的实现。然而,我们仍需大量投资,将太阳能与风能纳入电网,提升电力供应储备、技术能力等。

为了加强气候适应性,减少温室气体排放是重中之重。各国需要加强激励措施、税收结构以及监管政策。世界银行将帮助发展中国家应对气候变化,为此提出了国家气候发展报告,其中强调了有影响力的举措,并促进全球讨论与行动。第一份报告已于六月发布,未来几个月还将陆续发布,将会有针对中国的内容。

向低碳能源转变,进行可持续发展需要大量融资。由此,我们需要各种技术支持以推进融资项目。我们非常需要私营领域的参与以及资本投入。为使得融资项目顺利进行,我们需要建立强而有力的政策框架,提升透明度。

我们需要不断创新。世界银行结合了投资者、信托基金、公共目标和政府承诺,推出了许多创新产品,如绿色债券,以此引导更多的私人资本用于其他可持续发展目标。

关于气候相关的风险和机会,ESG框架至关重要。目前,全球在该方面没有达成广泛的共识。中国作为对外投资领导者,具有很大影响力。中国宣布不再新建境外煤电项目,进一步支持其他发展中国家发展绿色和低碳能源。中国的银行在对外投资中采取合适的ESG框架,将是未来的一项关键举措。中国承诺提高透明度和环境及社会风险管理标准,既能促进投资接受国可持续发展,同时也能显著降低中国投资者自身的风险。

作者丨戴维·马尔帕斯,世界银行集团总裁


Remarks at the Sina Finance 2022 ESG Global Leaders’ Summit


Remarks by World Bank Group President David Malpass at the Sina Finance 2022 ESG Global Leaders’ Summit


Good morning to all of you in Asia and to those connecting from around the globe. I’m very pleased to participate in this Summit to discuss global challenges and opportunities in sustainable development.

The world is facing multiple, interlinked crises. In response to Russia’s invasion of Ukraine, countries are shifting their energy policy priorities in ways that may slow down the energy transition and affect global climate goals and the achievement of electricity access.

The energy tradeoffs made in Europe will have major consequences for developing countries. The increased price of natural gas is already causing increased use of coal, diesel, and heavy fuel oil in the developing world. Meanwhile, additional fuel subsidies are being deployed to mitigate the impact of high prices. This worsens budget deficits and undercuts the longer-term objective of reducing greenhouse gas, or GHG, emissions. These broad-based subsidies distort price signals, reducing the incentives for energy efficiency and investments in cleaner energy.

These costs are coming at a time when there is considerable work yet to be done to support grid development and electricity access. There will need to be major investments in storage, new technologies and back-up capacity to integrate solar and wind into grids and compensate for intermittency.

Within this complex context, the world community is also focused on reducing GHG emissions. It will be important to identify, fund and implement the most impactful projects in terms of GHG emissions and resilience in adapting to major climate vulnerabilities. Incentive structures, tax regimes, and regulatory policies will be important components.

To help focus efforts in developing countries, the World Bank Group has launched a new core diagnostic called Country Climate and Development Reports, or CCDRs. These reports are part of our Climate Change Action Plan to integrate climate and development and help countries prioritize the most impactful actions. We published our first CCDR report, which was on Türkiye, this month. Over the next few months, we expect to publish as many as 20 more, including China. In addition to informing our own climate work, the reports aim to foster climate-oriented discussion and action in the countries and the global community.

A key challenge in sustainable development is addressing the large financing needs for the transition to lower-carbon energy. These include the large project preparation costs and financing and implementation risks that can extend for many years. To succeed, substantial funding will be needed from the global community as well as early-stage technical assistance for project preparation.

Engagement and capital from the private sector will need to increase by an order of magnitude to address these immense costs. There is growing interest by investors in financial instruments that provide sustainability outcomes. Achieving the major increases needed in the amount of financing channeled through these instruments will require robust new frameworks for measurement, reporting and verification. Transparency will be a key challenge to avoid greenwashing.

Constant innovation will be needed as the private sector applies significant funding to global public goods. The World Bank Group has provided many such innovations, such as green bonds, and has proposed more as part of our Climate Change Action Plan. One recent example was the March 2022 launch of a Wildlife Conservation Bond, or Rhino bond, to support South Africa’s conservation efforts. The bond is a first-of-its-kind financial instrument that channels investments to achieve conservation outcomes – measured in this case by a verifiable increase in black rhino populations. If targets are met, investors will receive, in addition to the redemption of their principal, a success payment at maturity, paid with funds provided by a performance-based grant from the Global Environment Facility. For a period of several years, the World Bank is bringing together investors, trust fund resources, a clear public purpose, and a significant government commitment. The approach can be adjusted and scaled to channel more private capital for other sustainable development objectives.

Looking broadly, strong Environmental, Social and Governance, or ESG, frameworks are critical to manage climate-related risks and opportunities in both development and corporate activities. There is currently significant variation globally in ESG reporting requirements, monitoring, and verification and little consensus on the priorities within ESG.

The World Bank Group is a long-standing supporter of global efforts to harmonize standards for sustainability reporting. We promote global transparency on climate metrics, targets, and outputs so that we can create opportunities, tackle challenges, and help countries maximize positive outcomes in their climate transition.

China’s role as a major global creditor gives it additional responsibility to support the global shift toward investments with high ESG standards. As a major outward investor, particularly in infrastructure, China has considerable influence in promoting the adoption of international ESG standards in its lending and investing.

In October 2021, China announced that the country will no longer build coal-fired power plants abroad. In addition, the country has also announced that it will step up support for other developing countries in developing green and low-carbon energy. These are welcome steps, but there is more that can be done.

A key future step is the adoption of an ESG policy framework that applies to Chinese banks for their foreign investments. A commitment to high standards of transparency and environmental and social risk management, similar to the standards that the World Bank Group and other MDBs follow, would help recipient countries achieve sustainable development while also significantly lowering risks for Chinese investors themselves.

With these few thoughts, I wish you a successful event and fruitful discussions. 

Thank you.

选题:包崇艺

编译:陈沁钰

本文监制:董熙君



来源|世界银行集团

版面编辑|刘嘉璐

责任编辑|李锦璇、蒋旭

总监制|朱霜霜


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