The "Investing in a Sustainable Future" event is held in Beijing. Photo: Courtesy of the Embassy of Sweden in China

Recently, European and Chinese experts in sustainable finance gathered in Beijing for an event organized by the Swedish Embassy in China, an EU Delegation, and the Asian Infrastructure Investment Bank.

The event, "Investing in a Sustainable Future," took place during the Swedish Presidency of the Council of the European Union. Accelerating the green transition is a top priority for the Swedish Presidency, and sustainable finance can contribute to the green transition needed in Europe and China to limit climate change and build a sustainable and resilient economy.

Policymakers, researchers, and investors from the People's Bank of China, the OECD, Nordea Bank, the Export-Import Bank of China, and the International Sustainability Standards Board among others, discussed the current taxonomy and reporting standards for sustainable finance in the EU and China.

They discussed how and when to seek harmonization and interoperability of standards, what criteria sustainability reporting should meet to prevent "greenwashing," and the need for environmentalists and economists to work together in a more integrated way to ensure that investments are truly sustainable.

In recent years, the EU and China have worked closely together on this topic through the International Platform for Sustainable Finance. 

This event provides an opportunity to continue the discussion on how to create the most favorable conditions for sustainable finance, help the industry as a whole to shift to a greener path, and fundamentally change the way we tackle climate change.