At Bund Summit, financial leaders urge acceleration of energy transition
At the sixth Bund Summit in Shanghai, global financial leaders gathered to address pressing challenges heightened by uncertainty, emphasizing the critical role of finance in combatting climate change and facilitating energy transition.
TroibNews 
Global financial leaders gathered at the sixth Bund Summit in Shanghai, a prominent global financial center, to address critical issues amid increasing uncertainty. The summit focused on the essential role of finance in combating climate change and facilitating energy transition.
In its role as a strategic media partner, CN hosted a roundtable discussion led by anchor Michael Wang, centering on the path forward in the energy transition.
Edmond Alphandery, former French Finance Minister, stressed the necessity for robust implementation of the Paris Agreement. He advocated for a worldwide consensus on carbon pricing and called for the cooperation of international organizations, including the World Trade Organization, to tackle the challenges associated with carbon pricing.
Eddy Wong, CEO of Amundi Asia, pointed out the vast disparity between present investment in energy transition and the estimated $3 trillion to $5 trillion required to achieve climate objectives. He urged for heightened investment in the upcoming years.
Ning Gaoning, the former chairman of Sinochem Holdings, highlighted China's leading position in climate initiatives and its promise to share cutting-edge technologies in areas such as electric vehicles, solar energy, and nuclear power with the global community.
The International Renewable Energy Agency reported that in 2023, China accounted for over half of the global increase in renewable energy capacity.
Liu Shijin, former vice-minister of the Development Research Center of the State Council, noted the substantial decreases in costs for solar and wind energy over the past decade, which have rendered these resources more competitive than coal.
He underscored the need for ongoing reforms, opening-up initiatives, and developmental strategies to tackle challenges and foster growth within the renewable energy sector.
The three-day Bund Summit was collaboratively organized by the China Finance 40 Forum and the China Center for International Economic Exchanges.
Sanya Singh contributed to this report for TROIB News
In its role as a strategic media partner, CN hosted a roundtable discussion led by anchor Michael Wang, centering on the path forward in the energy transition.
Edmond Alphandery, former French Finance Minister, stressed the necessity for robust implementation of the Paris Agreement. He advocated for a worldwide consensus on carbon pricing and called for the cooperation of international organizations, including the World Trade Organization, to tackle the challenges associated with carbon pricing.
Eddy Wong, CEO of Amundi Asia, pointed out the vast disparity between present investment in energy transition and the estimated $3 trillion to $5 trillion required to achieve climate objectives. He urged for heightened investment in the upcoming years.
Ning Gaoning, the former chairman of Sinochem Holdings, highlighted China's leading position in climate initiatives and its promise to share cutting-edge technologies in areas such as electric vehicles, solar energy, and nuclear power with the global community.
The International Renewable Energy Agency reported that in 2023, China accounted for over half of the global increase in renewable energy capacity.
Liu Shijin, former vice-minister of the Development Research Center of the State Council, noted the substantial decreases in costs for solar and wind energy over the past decade, which have rendered these resources more competitive than coal.
He underscored the need for ongoing reforms, opening-up initiatives, and developmental strategies to tackle challenges and foster growth within the renewable energy sector.
The three-day Bund Summit was collaboratively organized by the China Finance 40 Forum and the China Center for International Economic Exchanges.
Sanya Singh contributed to this report for TROIB News
